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Lock's Cable Corner

  • #3,661
  • Feb 27, 2017 7:24am Feb 27, 2017 7:24am
Quoting Piphunter00
how many times they gona buy this same low :S J inside I, A period PREUS making bounce off same reference
Only weak hands before news. It could also shake out at news considering the GB poor high above at 2438 and the weak refs below like GB C period low at round 2400 and 23825 perfect inside weekly balance low tag.
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  • #3,662
  • Feb 27, 2017 8:01am Feb 27, 2017 8:01am
Unfortunately I think I could not be present at pit open. See you later. Best L.
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  • #3,663
  • Feb 27, 2017 8:08am Feb 27, 2017 8:08am
Quoting Lock
Unfortunately I think I could not be present at pit open. See you later. Best L.
very unfortunate, all the best Lock
  • #3,664
  • Feb 27, 2017 9:40am Feb 27, 2017 9:40am
market is currently lodged between two previous pit session highs&lows..

no break below 400 which would have repaired the poor lows and added weight to get some downside continuation past the longer term auction bracket but nothing
  • #3,665
  • Edited 10:18am Feb 27, 2017 10:06am | Edited 10:18am
long from 2452.. stop already at b/e could care less If this bullshit market coughs up or not lol

ran with my little profit yet again. I'm somehow involuntarily being a scalper loool :/ strange

that's whats annoying about all these setups popping up during the Pit session. I live in GB I don't want to monitoring trades in the late evening lol

lived to fight another trade though eh lol
  • #3,666
  • Feb 27, 2017 10:37am Feb 27, 2017 10:37am
gap has been filled and value has built to Unch. good signs
  • #3,667
  • Feb 27, 2017 11:39am Feb 27, 2017 11:39am
D, F and G cluster of lows at Friday pit unch 2457.
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  • #3,668
  • Feb 27, 2017 11:40am Feb 27, 2017 11:40am
We could remain here in balance, considering the composite poc at 2464 that is attracting price. But note that all the preUS+pit US action for now was short covering of overnight inventories too short.
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  • #3,669
  • Feb 27, 2017 12:06pm Feb 27, 2017 12:06pm
Quoting Lock
We could remain here in balance, considering the composite poc at 2464 that is attracting price. But note that all the preUS+pit US action for now was short covering of overnight inventories too short.
And here it is a liquidation. In any case I didn't follow this market during the session so I cannot say if it can continue or come back to comp poc again. So I'm off. See you tomorrow. Best L.
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  • #3,670
  • Feb 27, 2017 1:57pm Feb 27, 2017 1:57pm
Quoting Lock
{quote} And here it is a liquidation. In any case I didn't follow this market during the session so I cannot say if it can continue or come back to comp poc again. So I'm off. See you tomorrow. Best L.
Seemed there was only really two/three opportunities to extract something out the market today
Taking the aggressive buy at the bottom of the bracket which would have been a very lucrative position but required balls to step in front of it at the time. The trade I got into which was basically within the move of the first position and required a quick in and out approach and there wasn't much to walk away with on that, and the short after the covering which is in progress and could always result in a short run only. Just my observations
  • #3,671
  • Feb 28, 2017 2:37am Feb 28, 2017 2:37am
17/02/28 09:37+1GMT (edited untill 09:45)
MORNING REPORT

Monthly and weekly balance. Daily attempted breakout below the very weak lower trend line. Yesterday we left a considerable gap downside at GB open and current GB session opened inside yes GB range: initial acceptation of yes range expected and eventually tests above and/or below it.

Major composite poc at 2464 could attract price as normal and as it did also yesterday. We got a double pass GB gap at 2498-25235 that could also attract price. But note that such a big gap like the one left yesterday could need more than one session to be completely filled (generally)

Current Tokyo high is poor at 2450 and also weak as it is a tag of a round number.

Current A low is exactly 1 pip aboveyesterday GB session hlaf back 2410

Downside we could have a test of the major half back (GB) at 2396 if something will go wrong upside. Note that by now, GB attempted below overnight low (Tokyo low) and failed once. It was a good day timeframe spot for a long. But now we need acceptation back inside Tokyo range for any meaningfull continuation upside. If not, remember that overnight highs and lows are used by weak timeframes not by stronger ones.

Major levels (short/mid term) above are, in succession: 24437, 25122 and 2548. Downside we have 2396, 23805, 23465, 23316, 23117 and 23016.
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  • #3,672
  • Feb 28, 2017 2:42am Feb 28, 2017 2:42am
Quoting Lock
17/02/28 09:37+1GMT MORNING REPORT.
morning lock, great to have you back.
  • #3,673
  • Feb 28, 2017 2:46am Feb 28, 2017 2:46am
Quoting Piphunter00
{quote} morning lock, great to have you back.
Good morning Piphunter. Have a nice day.
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  • #3,674
  • Feb 28, 2017 2:48am Feb 28, 2017 2:48am
Note that we are still in the last Tokyo period and current B tagged exactly yes Tokyo high at 2435. Yes Tokyo close is at yes GB unch (coincidence) at 24085.
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  • #3,675
  • Feb 28, 2017 3:00am Feb 28, 2017 3:00am
One of the methods to understand participation and conviction is to consider the session open: as said GB opened inside yesterday GB session. So first piece of information: not a great conviction nor participation at open.

Then a second way to analyze participation and conviction is to see if price go up and down open: it made it a lot of time from open time. So an other piece of information confirming initial lack of participation and conviction.

A third way is to verify which kind of references are used by current participants: and today for now we only have very exact referenced used: weak participation. So we have by now 3 converging data points that are telling us about weak market participation and lack of conviction in any particular direction. This could help us to moderate our expectations.

And consequently these info could avoid us loss of financial and psychological capital.

As written for now the only possible entry was at overnight low test failure. A day timeframe possible long.
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  • #3,676
  • Feb 28, 2017 3:04am Feb 28, 2017 3:04am
Then a second way to analyze participation and conviction is to see if price go up and down open: it made it a lot of time from open time.
the bold bit i found quiet confusing, i understand that from the open we just had, we experienced some up movement (just from weak references) whats the part about it made a lot of time
  • #3,677
  • Feb 28, 2017 3:08am Feb 28, 2017 3:08am
Quoting Lock
...As written for now the only possible entry was at overnight low test failure. A day timeframe possible long.
Note that we got 3 reasons to do it: attraction of composite poc at 2464, failure below overnight low, overnight poor high at 2450. This does not mean it has to get to 2450 or 2464, but at least it means that market participants (day timeframe traders) had good initial reasons to buy that level.
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  • #3,678
  • Feb 28, 2017 3:11am Feb 28, 2017 3:11am
Quoting Lock
As written for now the only possible entry was at overnight low test failure. A day timeframe possible long.
I spotted that this level could present this type of opportunity, but these last few sessions I've habitually made the mistake of taking impulsive trades during the IB and got dealt with very quickly, even though the loss was only a couple points each time it would leave me a lot more tense during the rest of the session.

this is when the concept of psychological capital really clicked in my head so I just turnt it down today lol.

Once I'm able to read the situation when its happening during the IB with objectiveness rather than being on the edge of my seat these kinds of entries i will take.
As I am also aware that some of the best positions seem like your stepping infront of something you shouldn't be
  • #3,679
  • Feb 28, 2017 3:13am Feb 28, 2017 3:13am
GB session profile starting to resemble a very small 'P' unless C period elongates further
  • #3,680
  • Feb 28, 2017 3:14am Feb 28, 2017 3:14am
Quoting Piphunter00
Then a second way to analyze participation and conviction is to see if price go up and down open: it made it a lot of time from open time. the bold bit i found quiet confusing, i understand that from the open we just had, we experienced some up movement (just from weak references) whats the part about it made a lot of time

We could have 3 kind of open: open-drive, open-test drive and open-auction.

When price opens and drives away from open level without re testing it we have the maximum amount of conviction. When price opens then tests somewhere and retests open again in order to go in the opposite direction of the initial one we have still some sort of conviction even it is clearly lesser than the first kind of open. The last one is when price open and goes up and down open level more than a couple of times. This could underline lack of initial conviction in any particular direction. Note that I underlined initial.
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