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Lock's Cable Corner

  • #3,781
  • Mar 2, 2017 1:19am Mar 2, 2017 1:19am
I attach here one of my major references chart template.

Is this:
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-03-02_8-25-26_major refs.png Size: 43 KB
Attached File(s)
File Type: tpl 00000_LOCK_MAJOR REFERENCES.tpl   7 KB | 316 downloads
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  • #3,782
  • Mar 2, 2017 1:28am Mar 2, 2017 1:28am
Quoting Lock
I attach here one of my major references chart template. {file}
Wow nice one lock. This is a big help.
  • #3,783
  • Mar 2, 2017 1:35am Mar 2, 2017 1:35am
This is about sessions major refs: I attach the template but I will not attach for now the sessions tools (because they are beta), so you will see the references but you will not see the sessions in your chart.

Is this:

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 96 KB
Attached File(s)
File Type: zip 00000_LOCK_SESSIONS.zip   120 KB | 336 downloads
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  • #3,784
  • Mar 2, 2017 1:40am Mar 2, 2017 1:40am
I have located a 'session candle' indi. that works fine actually but not on the D1 H4 is as high a timeframe as it goes, is this still able to aid me in some way in finding session time tailored references
  • #3,785
  • Mar 2, 2017 1:53am Mar 2, 2017 1:53am
Quoting Lock
I attach here one of my major references chart template. Is this: {image} {file}
lock is that trade valid? short around 2314 and TP around 2165-70?? :O
  • #3,786
  • Mar 2, 2017 1:55am Mar 2, 2017 1:55am
17/03/02 THURSDAY 08:55+1GMT
EARLY MORNING REPORT

We are in a major attempted breakout below the last weekly bracket. On the major scale note that we are below 23464 (half back of the entire bracket from 06.12.16 to 16.01.17) and below 2362 (half back of the entire GB action upside from 16.01): these will be the major go/no go levels for upcoming GB session.

Other major references above are 23015, 23117, 23316, 24436. Downside 21352 and 2088.

Yesterday GB made a huge spike downside starting with G period (spike base at 2358): this is the biggest piece of information for upcoming GB session. If GB will open below 2358 we will initially get a confirmation of the attempted test downside. The other important reference for upcoming GB will be the yesterday spike lower extreme 22965: an open below this level will double the intial acceptation of the test downside: in this case we will have a new gap downside and consequently (spike+new gap) we will have 2 excess in the same direction.

At the contrary if you will see a GB open above one or both these references you will read an initial rejection of the yesterday attempt downside. If above the spike base 2358: very big rejection. If above 22965: acceptation of the test but a new test below yes range low will be needed.

Price is currently at major composite poc 2285: volume is needed in order to evade it.

Quoting titi14
{quote} lock is that trade valid? short around 2314 and TP around 2165-70?? :O

You could read it as my initial bias for today. But I placed it yesterday during final part of pit session.
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  • #3,787
  • Mar 2, 2017 2:04am Mar 2, 2017 2:04am
Quoting Lock
{quote} You could read it as my initial bias for today. But I placed it yesterday during final part of pit session.
looking good entry was very very good well done
  • #3,788
  • Mar 2, 2017 2:06am Mar 2, 2017 2:06am
Note that downside we still have a previous GB poor low at 22603 followed as written yesterday by an old pit poor low at 22538 and a Tokyo poor low at 22525: those are possible targets for today if we will get acceptation below yesterday spike test.

At the same time note yesterday pit poor high at 23275 and tonight Sydney poor high at 2300 round number: these are clearly weaknesses left above. Only a strong participation downside could avoid a correction of them.

23016 is the first major reference upside: it is a go/no go level, so monitor carefully it for acceptation or regection above or below it.
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  • #3,789
  • Mar 2, 2017 2:35am Mar 2, 2017 2:35am
Quoting Lock
Note that downside we still have a previous GB poor low at 22603 followed as written yesterday by an old pit poor low at 22538 and a Tokyo poor low at 22525: those are possible targets for today if we will get acceptation below yesterday spike test. At the same time note yesterday pit poor high at 23275 and tonight Sydney poor high at 2300 round number: these are clearly weaknesses left above. Only a strong participation downside could avoid a correction of them. 23016 is the first major reference upside: it is a go/no go level, so monitor carefully...
lock, just a clarification cuz this is still confusing for me... when we say acceptation or rejection, when price its testing lets say a level in order for acceptation, we require a close above that level on a m30 timeframe for minimum? an Hourly close? how does this actually work from charts?
  • #3,790
  • Mar 2, 2017 3:18am Mar 2, 2017 3:18am
Quoting titi14
{quote} lock, just a clarification cuz this is still confusing for me... when we say acceptation or rejection, when price its testing lets say a level in order for acceptation, we require a close above that level on a m30 timeframe for minimum? an Hourly close? how does this actually work from charts?
It is not a science but generally acceptation could be considered if at least 2 m30 periods close above or below a certain price level. Consider anyhow other factors like "tempo".When you see price grinding with a very slow tempo above a certain level you may also obtain acceptation (let's say 2 periods closed above it) but this does not mean price could not retrace from that accepted location: after acceptation infact you need continuation. And continuation could be underlined by an acceleration* above a particular level instead of a stalling action or an elongation* of the profile of the current session. Without acceleration and/or elongation an accepted price zone is always at risk to be abruptly rejected.

*Acceleration and elongation infact could underline the fact that new participants enetered a market above or below a particular level. A stalling situation instead underlines the fact that above or below a particular level we didn't find any new market participant.
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  • #3,791
  • Mar 2, 2017 3:22am Mar 2, 2017 3:22am
cant really be at the screen today unfortunately, its a shame given that theres opportunity unfolding in the market and I took a whacking yesterday but eh gotta do what you gotta do. Lock thanks for sharing the extra resource its going to be a big help. one question before I go, I noticed we tagged the previous GB low in an attempt to hit the overnight high and failed, would the trade execution be more optimal to just short the overnight low as it came back to it, or the B period resolving underneath was just as good to get into?

added factors in this whole situation is that we filled a small gap but couldn't even blow past the poor high to correct or build above unch. which were all in close proximity so was any time within B a good time to get in. I feel like sometimes I may be trying to be to precise, like yesterday
  • #3,792
  • Mar 2, 2017 3:24am Mar 2, 2017 3:24am
Quoting Piphunter00
cant really be at the screen today unfortunately, its a shame given that theres opportunity unfolding in the market and I took a whacking yesterday but eh gotta do what you gotta do. Lock thanks for sharing the extra resource its going to be a big help. one question before I go, I noticed we tagged the previous GB low in an attempt to hit the overnight high and failed, would the trade execution be more optimal to just short the overnight low as it came back to it, or the B period resolving underneath was just as good to get into?

The yesterday GB session range low tag was a good spot for day time frame traders: it was a very exact ref and the stop could be very precise above it. At the same time as it is a day timeframe exact reference it is not a particularly strong one. So in case of shake out it is clearly at risk to be revisited and eventually taken out.

Also it is a double exact reference as it is the Tokyo high and the yesterday GB session range low: so it is clearly weak.

Btw the gap is not perfectly filled: I have 1 single pip gap right now: an other factor of weakness but also a lack of participation upside considering that we are well below yesterday spike base.
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  • #3,793
  • Mar 2, 2017 3:32am Mar 2, 2017 3:32am
Quoting Lock
{quote} The yesterday GB session range low tag was a good spot for day time frame traders: it was a very exact ref and the stop could be very precise above it. At the same time as it is a day timeframe exact reference it is not a particularly strong one. So in case of shake out it is clearly at risk to be revisited and eventually taken out. Also it is a double exact reference as it is the Tokyo high and the yesterday GB session range low: so it is clearly weak. Btw the gap is not perfectly filled: I have 1 single pip gap right now: an other factor...
I think this is where I may be going wrong, trade location always being that of the daytimeframe. I don't feel I understand what behaviours to watch for and where to place stops etc in situations with longer term references. can you give me examples of how to interact with longer term references. isit going with breakouts from balance when there in close proximity and the market condition is ripe for it?
  • #3,794
  • Mar 2, 2017 4:21am Mar 2, 2017 4:21am
Quoting Piphunter00
{quote} I think this is where I may be going wrong, trade location always being that of the daytimeframe. I don't feel I understand what behaviours to watch for and where to place stops etc in situations with longer term references. can you give me examples of how to interact with longer term references. isit going with breakouts from balance when there in close proximity and the market condition is ripe for it?

If you see a market ruled by weak hands (scalpers and day timeframe traders) you could always use day timeframe references to place your positions: the important thing is to understand who you are following in these actions. Meaning: to be aware that you are following weak participants that in case of new money stepping in the market could be retraced easily. Then the major references always prevale upon day timeframes ones. Potentially. But let's say you come to a particular short/mid term reference and you find no one there: so what? Even if you are following a weak action started by weak participants, the lack of new stronger money against that particular action could allow a continuation of it.

The more a particular weak action is prolonged and the more you see other weak money piling on it the bigger are the probabilities to find new stronger money ready to retrace it at major references. The littler is the weak action (in term of time and space) the less the probability to find stronger hands ready to intervene against it.

Then an overall evaluation of the bigger perspective is always needed in order to "calculate" if the odds are in favour or against a particular action.

Let's say you are in a short term trend downside and you see a weak action in the same direction (downside): even if in that particular moment in time you ar not seeing stronger hands taking part to the market the odds of a continuation of the general action are higher than a similar situation (weak action downside) in which there is not a short term action downside occurring underneath.
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  • #3,795
  • Mar 2, 2017 4:28am Mar 2, 2017 4:28am
How do you see if weaker hands are piling on a particular action? Easy: if you see that the periods continue to use exact day timeframe references to go in a particular direction you know that period after period weak hands are adding to previous positions.: see current action.
Weak high 1 single pip below yesterday GB range low and Tokyo high (22965: day time frame ref), C period high at initial half back (22875: day timeframe ref), D high 2 pip below open (22045:day timeframe ref) , D at half back again (2277: day timeframe ref). Who is piling on this action downside?

But then: what about the action downside occurring underneath? It is a short term (at least) attempt downside: and to revert it we need at least short term stepping in and going seriously against it. If we will not find them, even if this action is clearly ruled and followed by weak hands, it could continue. At least untill we will reach a particular major reference where stronger money eventually will decide to intervene*.

*against it retracing all the weaknesses left above, or in favour of it piling along side it and accelerating the action leaving the correction of the weaknesses above for the future.
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  • #3,796
  • Mar 2, 2017 4:53am Mar 2, 2017 4:53am
Analyze current situation: possible trend downside occurring (short term involved at least). You see price unable to completely fill the new gap downside and unable to go above overnight high: it is a day timeframe short but it is also in favour of the short term possible action downside: so what? Place your short and follow the action downside.

Then, you see this weak hands action continue lower adding period after period new weak money in the same direction: so what? Stay with them untill you see a reaction.

Then you reach the overnight low (Tokyo low) and you see price unable to stay below it: so what? Close your short taking profit and place your long against all the weak action occurred till then and be aware of the fat that this time you probably are against the short term action underneath: so it has to be fast and is more risky of the initial short.

Then see what happen: if you see that this new action (weak one) is not even able to retrace the weaknesses left above, esc your long position. If you see continuation upside to take out the weaknesses be ready to close if you see them taken out but then no continuation upside. At that moment in time, if you will not see continuation: close your new long taking profit and place an other short or wait for preUS open in order to better evaluate the situation.
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  • #3,797
  • Mar 2, 2017 5:09am Mar 2, 2017 5:09am
Quoting Lock
How do you see if weaker hands are piling on a particular action? Easy: if you see that the periods continue to use exact day timeframe references to go in a particular direction you know that period after period weak hands are adding to previous positions.:
Quoting Lock
see current action. Weak high 1 single pip below yesterday GB range low and Tokyo high (22965: day time frame ref), C period high at initial half back (22875: day timeframe ref), D high 2 pip below open (22045:day timeframe ref) , D at half back again (2277: day timeframe ref). Who is piling on this action downside? ....

As you see: all taken out but B period high. Take profit or scale out if you'll not see continuation upside because you know that this action is a correction of a weak action occurred downside but you also know that this correction is occurring against major possible short term downtrend.

Any time you see a weak ref is taken out you know a weak participant downside is no more... So the more weak ref you take out the lesser the odds of a continuation upside. (in this context)
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  • #3,798
  • Mar 2, 2017 5:13am Mar 2, 2017 5:13am
Re-read from post 3794, if you like.
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  • #3,799
  • Mar 2, 2017 6:00am Mar 2, 2017 6:00am
H inside G: possible final test in the last 2 periods.
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  • #3,800
  • Edited 7:09am Mar 2, 2017 6:59am | Edited 7:09am
Less than 10 minutes to go for preUS open and we currently are at yesterday pit range low 22795: this will be the most important level for upcoming US sessions (preUS and pit US). Also note price ranging up and down upon composite poc 2285: this is the second mst important level for next action today.

Now, because current daily poc is very prominent a directional move is possible or even expected from here. But, in case of indecision, considering the proximity of the composite poc we could also experience a continuation of current balance environment, eventually with a shake out during news.

In case of directional move the options are two, obviously: a retracement of the short term attempt downside from weekly bracket (weekly bracket low at 23464) or an acceptation of this attempt and eventually a continuation downside in direction of the major bracket low (2088 or 19867 )

As written previously the first go no go level is upside 23016. Right now we are below it and a test of it could clarify the situation.

23117 is the second major ref above (go no go level)

Other 2 major reference that could be involved in a test are 23694 and 23975.

The current pit environment on daily:
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-03-02_14-07-20_pit sessions.png Size: 100 KB
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