Lock's Cable Corner | Page 187 | Forex Factory

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Lock's Cable Corner

  • #3,721
  • Feb 28, 2017 8:41am Feb 28, 2017 8:41am
Monitor for acceptation or rejection above yes pit unch at 24405.
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  • #3,722
  • Feb 28, 2017 9:07am Feb 28, 2017 9:07am
was away from screen when the break happened >< seems like it could take a run upwards.

note to self, when you secure good trade location let it ride till the market says otherwise
  • #3,723
  • Feb 28, 2017 9:10am Feb 28, 2017 9:10am
Quoting Lock
Sorry guys I was out in the last hours. I didn't follow the market. But I see we got 2 back to back poor highs in the last 2 sessions, and major composite poc is above them.
Here we are at composite poc 2464: now we need acceptation above yes pit unch 24405, above overnight Tokyo high 2450 and volume to be happy and to evade the comp poc. A lot of volume.
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  • #3,724
  • Feb 28, 2017 9:15am Feb 28, 2017 9:15am
Quoting Lock
{quote} Here we are at composite poc 2464: now we need acceptation above yes pit unch 24405, above overnight Tokyo high 2450 and volume to be happy and to evade the comp poc. A lot of volume.
i have a level which is a HB of a 15 day balance on D1 tailored to Pit session extremes that comes in at 2472. could acceptance above this (which would have to mean a move away from the composite poc) be a sign of an upward probe of the longer term bracket
  • #3,725
  • Feb 28, 2017 9:16am Feb 28, 2017 9:16am
If we will manage to evade the comp poc 2464 to the upside, we could reach the old pit minus development at 2518-25325 and eventually the pit poor high at 25645. But, I repeat it: we need a lot of volume to do so. So monitor carefully for the acceptations we need as a starting point.
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  • #3,726
  • Feb 28, 2017 9:19am Feb 28, 2017 9:19am
Remember that for now we are still inside yesterday pit range 24155-24782. So for now even if this is an attempted break above previous sessions we still are in balance for pit participants.
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  • #3,727
  • Feb 28, 2017 9:28am Feb 28, 2017 9:28am
one very good factor i can take away from todays trading is that i did manage to get myself in a very good trade. just didn't have the bottle to ride it out but that can be learned with time
  • #3,728
  • Feb 28, 2017 9:43am Feb 28, 2017 9:43am
Quoting Lock
Remember that for now we are still inside yesterday pit range 24155-24782. So for now even if this is an attempted break above previous sessions we still are in balance for pit participants.
As you see.
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  • #3,729
  • Feb 28, 2017 9:47am Feb 28, 2017 9:47am
Quoting Lock
{quote} As you see.
yup. lol C period crapped its pants

edit: completely wipes the board clean lol

i was actually willing to take the long at the overnight low as it came back in but the thing didn't even give me a chance to click the button before we zoomed back into the range lol and i use one click trading!

this has happened to me quiet abit when fading the extremes and I'm starting think maybe in this particular setup using a resting order might be more efficient as soon as we come back in it fills me in the process

do you stay away from such aggressive action Lock, or is this kind of stuff perfect for fading lol? just curious as to how you take action when things start going buckwild
  • #3,730
  • Feb 28, 2017 9:57am Feb 28, 2017 9:57am
today has been a day that required balls. all the best trades have been stepping infront of some scary trains
  • #3,731
  • Feb 28, 2017 10:06am Feb 28, 2017 10:06am
Quoting Piphunter00
{quote} yup. lol C period crapped its pants edit: completely wipes the board clean lol i was actually willing to take the long at the overnight low as it came back in but the thing didn't even give me a chance to click the button before we zoomed back into the range lol and i use one click trading! this has happened to me quiet abit when fading the extremes and I'm starting think maybe in this particular setup using a resting order might be more efficient as soon as we come back in it fills me in the process do you stay away from such aggressive...
Generally I tried to take advantage of these situations because if you observe the market what happened till now was: balance inside yes pit session range then test of its lower extreme and failure below it then back into yes pit range. So, if you consider what happened for what it actually was it is not difficult. Or, at least, it was understendable and doable.
In this particular case I was not involved in this market at all (but demo) because I experienced major connection problems with my internet provider since this early morning so I could not risk my money in a situation in which I do not know if I'll be able to follow and control market action. So today I only placed random positions in my demo. And I think I'll be back in the action as soon as my technical issues will be solved.
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  • #3,732
  • Feb 28, 2017 10:09am Feb 28, 2017 10:09am
Quoting Lock
{quote} Generally I tried to take advantage of these situations because if you observe the market what happened till now was: balance inside yes pit session range then test of its lower extreme and failure below it then back into yes pit range. So, if you consider what happened for what it actually was it is not difficult. Or, at least, it was understendable and doable. In this particular case I was not involved in this market at all (but demo) because I experienced major connection problems with my internet provider since this early morning so...
definitely understandable and doable for sure! i had my eyes on those levels when C period started crapping it. I was just too slow, by then it was two-three prints inside of the range again so i just passed

i am definitely starting to see the power in fading moves like this when the situation is right to, the move is usually swift and painless if your targets are set in the right place. in this case if you had aimed for the POC you would have secured your meal very quickly
  • #3,733
  • Feb 28, 2017 10:22am Feb 28, 2017 10:22am
Quoting Piphunter00
{quote} definitely understandable and doable for sure! i had my eyes on those levels when C period started crapping it. I was just too slow, by then it was two-three prints inside of the range again so i just passed i am definitely starting to see the power in fading moves like this when the situation is right to, the move is usually swift and painless if your targets are set in the right place. in this case if you had aimed for the POC you would have secured your meal very quickly

The difficult part of this action occurred when the price broke above overnight: at that moment in time you had to have in mind where this action was occurring: inside yesterday pit range, so in a balance environment. Unless you were aware of this data point I think it was very hard to see an opportunity at composite poc. And specialy it was more than hard to see an other one at the bottom of yesterday pit session range. So if you understood the situation you should be pretty proud of your analysis even if you wasn't able to profit from it. Best L.
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  • #3,734
  • Feb 28, 2017 10:30am Feb 28, 2017 10:30am
Now: D inside C and E last period of London. Note that C was not able to probe above yes London close at 24725. And note that price is currently at GB open: so nothing happen from morning open till now. Finally: note D high at round 2450. And C low at preUS low. Both are weak. But C low 2405 is weaker. Let's see if it will end in balance or it will try an other attempt ouside balance.
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  • #3,735
  • Feb 28, 2017 10:53am Feb 28, 2017 10:53am
If this balance will be preserved untill the end of current pit session, a directional sharp and strong move is expected during next sessions. Starting with Tokyo one.
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  • #3,736
  • Feb 28, 2017 10:57am Feb 28, 2017 10:57am
Quoting Lock
{quote} The difficult part of this action occurred when the price broke above overnight: at that moment in time you had to have in mind where this action was occurring: inside yesterday pit range, so in a balance environment. Unless you were aware of this data point I think it was very hard to see an opportunity at composite poc. And specialy it was more than hard to see an other one at the bottom of yesterday pit session range. So if you understood the situation you should be pretty proud of your analysis even if you wasn't able to profit from...
thank you, yes i was very much aware of the situation. I had the overnight low and the previous pit low mapped out, the pit low was abit trickier to watch because it blew through it quiet abit. but because these two references were sandwiched together i was pretty sure by the way C period came crashing down that if it was going to be a failure scenario the market would tag both of them
  • #3,737
  • Feb 28, 2017 10:58am Feb 28, 2017 10:58am
Quoting Lock
If this balance will be preserved untill the end of current pit session, a directional sharp and strong move is expected during next sessions. Starting with Tokyo one.
whats the logic behind this observation Lock? isit because we cant seem to accept that short term reference at 2443 (inside week high) or is it the daily POC becoming way to dense
  • #3,738
  • Feb 28, 2017 11:22am Feb 28, 2017 11:22am
Quoting Piphunter00
{quote} whats the logic behind this observation Lock? isit because we cant seem to accept that short term reference at 2443 (inside week high) or is it the daily POC becoming way to dense
It comes from the simple fact that the last 2 days made both very prominent profiles (overlapping one each other around their respective pocs). Meaning that market participants are not able anymore to make business around here. Then a search for a new fair place at which business could take place could start at any moment in time. The more the prominent is the composite poc of the last 2 days the bigger the search for a new fair place (poc): because the new poc has to be far enough from current one.

It is not a science as many around here try to consider it but generally it works like this.
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  • #3,739
  • Feb 28, 2017 11:25am Feb 28, 2017 11:25am
A news , a speach or an exogenous event could trigger this move during next sessions (or, even if it is unlikely, during current one).
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  • #3,740
  • Feb 28, 2017 1:04pm Feb 28, 2017 1:04pm
Quoting Lock
Now: D inside C and E last period of London. Note that C was not able to probe above yes London close at 24725. And note that price is currently at GB open: so nothing happen from morning open till now. Finally: note D high at round 2450. And C low at preUS low. Both are weak. But C low 2405 is weaker. Let's see if it will end in balance or it will try an other attempt ouside balance.
And here we are.
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