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Lock's Cable Corner

  • #3,681
  • Feb 28, 2017 3:16am Feb 28, 2017 3:16am
Quoting Lock
{quote} 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...
oh okay i understand it was in relation to the opening types, thank you for clarifying this.
  • #3,682
  • Feb 28, 2017 3:17am Feb 28, 2017 3:17am
Note C low at open price 2429: who do you think is buying there? Btw I'm still in my initial long: but now monitoring carefully the situation because I know who I'm following in this upside action.
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  • #3,683
  • Feb 28, 2017 3:19am Feb 28, 2017 3:19am
First test of yesterday GB high 2438 and at the same time first test of a short term reference 24437. Watch out if you will not see acceptation above both of them.
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  • #3,684
  • Feb 28, 2017 3:22am Feb 28, 2017 3:22am
Quoting Lock
short term reference 24437.
could you elaborate on what reference this is. ive been trying to brush up on finding short term references and longer term ones. i have my bracket highs and lows plotted on the D1 and a few halfbacks that have been adjusted for GB extremes and Pit ones. any other things i should be paying attention to
  • #3,685
  • Feb 28, 2017 3:23am Feb 28, 2017 3:23am
Quoting Piphunter00
{quote} could you elaborate on what reference this is. ive been trying to brush up on finding short term references and longer term ones. i have my bracket highs and lows plotted on the D1 and a few halfbacks that have been adjusted for GB extremes and Pit ones. any other things i should be paying attention to
First weekly balance high after 02.10.2016 break.
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  • #3,686
  • Feb 28, 2017 3:25am Feb 28, 2017 3:25am
Quoting Lock
{quote} First weekly balance high after 02.10.2016 break.
ive seen a lot of reference made to these weekly balances highs after breaks etc. how is this spotted. i cant recall ever reading about this reference
  • #3,687
  • Feb 28, 2017 3:26am Feb 28, 2017 3:26am
The search for major levels is not so easy. Start for monthly and weeky inside balances: highs and lows of them are generally significant. Then monthly and weekly brackets highs and lows as well as monthly and weekly half backs. Note that these levels vary if you take into consideration all the sessions, the GB sessions or the pit ones.
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  • #3,688
  • Feb 28, 2017 3:30am Feb 28, 2017 3:30am
Quoting Piphunter00
{quote} ive seen a lot of reference made to these weekly balances highs after breaks etc. how is this spotted. i cant recall ever reading about this reference
It's about market logic: we got a major break during 07.10.16, isn't it? Fine. After that market made some benchmarks to analyze participants reactions above and below 07.10.16 price settle. The first week after that break completed inside the previous week (and also inside the range of the break day): clearly this balance is important as it establised a starting point in order to test the market above or below it. Current reference we are speaking about (24437) is the top of that very important balance.

Consequently it is a wonderfull indicator to evaluate the current market participants bias: acceptation above it means that current market want to test higher, below it means clearly the opposit, and finally up and down it could mean indecision.
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  • #3,689
  • Feb 28, 2017 3:38am Feb 28, 2017 3:38am
Quoting Lock
{quote} It's about market logic: we got a major break during 07.10.16, isn't it? Fine. After that market made some benchmarks to analyze participants reactions above and below 07.10.16 price settle. The first week after that break copleted inside the previous week (and also inside the range of the break day): clearly this balance is important as it establised a starting point in order to test the market above or below it. Current reference we are speaking about (24437) is the top of that very important balance. Consequently it is a wonderfull indicator...
completely understand it now, you are a great teacher.

so to test this understanding. would the weekly hi/low 12/02/2017 be similar, but in the opposite way where last week we tried to probe this inside week high and failed miserably?
  • #3,690
  • Feb 28, 2017 3:45am Feb 28, 2017 3:45am
Quoting Piphunter00
{quote} completely understand it now, you are a great teacher. so to test this understanding. would the weekly hi/low 12/02/2017 be similar, but in the opposite way where last week we tried to probe this inside week high and failed miserably?
Thanks for your appreciations.
Exactly: it was an inside period( inside week) and last week we failed above it. Then we tagged its low (that is currently weak as any exact tagged reference) But note that it is not so important as it is the inside week we were speaking about before, because the magnitude of the break made during 07.10.16 was exceptional and consequently the initial tests after it were relatively more signinficant.
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  • #3,691
  • Feb 28, 2017 3:48am Feb 28, 2017 3:48am
Quoting Lock
{quote} Thanks for your appreciations. Exactly: it was an inside period( inside week) and last week we failed above it. Then we tagged its low (that is currently weak as any exact tagged reference) But note that it is not so important as it is the inside week we were speaking about before, because the magnitude of the break made during 07.10.16 was exceptional and consequently the initial tests after it were relatively more signinficant.
thank you again for the lesson, yeah i had figured as much because all the other week balance highs/lows you've mentioned have been in and around big movements
  • #3,692
  • Feb 28, 2017 3:50am Feb 28, 2017 3:50am
Quoting Piphunter00
{quote} thank you again for the lesson, yeah i had figured as much because all the other week balance highs/lows you've mentioned have been in and around big movements
Remember that market is about change: the bigger the change, the more relevant are the references occurred during that change. This is the reason why that particular weekly balance is so important compared with other weekly balances. That one infact occurred after a huge change. The last one after a minor one.
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  • #3,693
  • Feb 28, 2017 3:52am Feb 28, 2017 3:52am
Quoting Lock
Note C low at open price 2429: who do you think is buying there? Btw I'm still in my initial long: but now monitoring carefully the situation because I know who I'm following in this upside action.
As you see: taken out.
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  • #3,694
  • Feb 28, 2017 3:54am Feb 28, 2017 3:54am
i am short 2434, just inside the previous GB high. logic behind it was simple, risk was small and if we couldn't blow past C period which would also mean a close above the previous GB high the only option was down to some degree given that weak hands had bid this market up they would probably bail out at this level. lets see what happens
  • #3,695
  • Feb 28, 2017 3:59am Feb 28, 2017 3:59am
Waht about market conviction in any direction right now? Price is up and down open level for the last 4 periods. No conviction and no participation at all for now. Also for now no accepation above yes GB high nor above major 24437. But also no acceptation below overnight low: so what? Do nothing unless something will occurr.
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  • #3,696
  • Feb 28, 2017 4:00am Feb 28, 2017 4:00am
Quoting Piphunter00
i am short 2434, just inside the previous GB high. logic behind it was simple, risk was small and if we couldn't blow past C period which would also mean a close above the previous GB high the only option was down to some degree given that weak hands had bid this market up they would probably bail out at this level. lets see what happens
Good spot as a day timeframe trade. But the correct location (or at least the best one) was at 24437 when you saw no continuation above it.
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  • #3,697
  • Feb 28, 2017 4:04am Feb 28, 2017 4:04am
Quoting Lock
Waht about market conviction in any direction right now? Price is up and down open level for the last 4 periods. No conviction and no participation at all for now. Also for now no accepation above yes GB high nor above major 24437. But also no acceptation below overnight low: so what? Do nothing unless something will occurr.
your a very right. D period coughed up but given the conditions to the hills i have ran once again
  • #3,698
  • Feb 28, 2017 4:07am Feb 28, 2017 4:07am
Quoting Lock
{quote} Good spot as a day timeframe trade. But the correct location (or at least the best one) was at 24437 when you saw no continuation above it.
thanks for letting me know lock. the GB session has been a graveyard lately nothing going on

do you have any clever way of getting all the references you want to watch on one chart without it looking like line-land lol
  • #3,699
  • Feb 28, 2017 4:08am Feb 28, 2017 4:08am
Quoting Lock
{quote} Good spot as a day timeframe trade. But the correct location (or at least the best one) was at 24437 when you saw no continuation above it.

Analyze your positions: if after a rotational session you will see your entries right around final poc with any probability you are not doing a good job. Remember that the poc (point of control) could also be defined as the fairest place at which business has been conducted. It is the mid level between trades performed above or below it by current market participants. Consequently is the riskiest place of the current market: good sposts are normally above or below it, not around it.
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  • #3,700
  • Feb 28, 2017 4:10am Feb 28, 2017 4:10am
Quoting Lock
{quote} Analyze your positions: if after a rotational session you will see your entries right around final poc with any probability you are not doing a good job. Remember that the poc (point of control) could also be defined as the fairest place at which business has been conducted. It is the mid level between trades performed above or below it by current market participants. Consequently is the riskiest place of the current market: good sposts are normally above or below it, not around it.
yeah i defo need to brush up on timing. that's an interesting point about the POC. is there any way to avoid this or to notice if you might be winding up in this predicament in real time. or isit just about being aggressive on your levels.
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