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Lock's Cable Corner

  • #3,801
  • Mar 2, 2017 7:15am Mar 2, 2017 7:15am
Silly question but what the hell happened?
  • #3,802
  • Mar 2, 2017 7:15am Mar 2, 2017 7:15am
Monitor for acceptation below or above pit year open at 2289: this will be clearly the first clue about market intentions.
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  • #3,803
  • Mar 2, 2017 7:20am Mar 2, 2017 7:20am
Quoting Lock
.... Also note price ranging up and down upon composite poc 2285: this is the second mst important level for next action today. ..... 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...
Note initial range exactly from 23016 to 2285.
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  • #3,804
  • Mar 2, 2017 7:21am Mar 2, 2017 7:21am
Quoting behram
Silly question but what the hell happened?
GB final test* I was speaking about in my previous post: it tested before than above. Above it also completed the filling of the morning gap downside and tested the 23016 level.

*
Quoting Lock
H inside G: possible final test in the last 2 periods.
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  • #3,805
  • Mar 2, 2017 7:25am Mar 2, 2017 7:25am
Few minutes to go for news: note that we are between a poor high at 23275 and 2 poor lows at 22795 and 22538. Upcoming pit session should take care of them both. Above with a gap downside? Below with a direct action. But let's see where pre US will let pit US open.
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  • #3,806
  • Mar 2, 2017 7:30am Mar 2, 2017 7:30am
Quoting Lock
Few minutes to go for news: note that we are between a poor high at 23275 and 2 poor lows at 22795 and 22538. Upcoming pit session should take care of them both. Above with a gap downside? Below with a direct action. But let's see where pre US will let pit US open.
Hi lock, thank you for your great explanation, have been following you and several other very knowledgeable members, but that has opened my eyes a huge amount, just need to reread it 3 or 4 times!
  • #3,807
  • Mar 2, 2017 8:14am Mar 2, 2017 8:14am
Quoting Chrisw49
{quote} Hi lock, thank you for your great explanation, have been following you and several other very knowledgeable members, but that has opened my eyes a huge amount, just need to reread it 3 or 4 times!
You're welcome Chris. Have a nice continuation. Best L.
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  • #3,808
  • Mar 2, 2017 10:23am Mar 2, 2017 10:23am
D is building inside C: if so untill D close, watch out for a break out.
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  • #3,809
  • Mar 2, 2017 12:04pm Mar 2, 2017 12:04pm
Quoting Lock
D is building inside C: if so untill D close, watch out for a break out.

After the break from D inside period here we have an other possible break: G inside F. Watch out because this market is extremely weak, we left above 2 back to back poor high (2289 and 23275) and we still have a poor low at 22538 plus the current low tagging GB low at 22583. The short term trend is down: this does not mean we cannot have a short covering if we will not have continuation downside.
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  • #3,810
  • Mar 2, 2017 12:06pm Mar 2, 2017 12:06pm
If something will go wrong downside remember also that F period high is weak at open level 22715.
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  • #3,811
  • Mar 2, 2017 12:10pm Mar 2, 2017 12:10pm
Note also that below the old poor low at 22538 we have a huge old pit gap upside (16-17.01.2017) down to 2085: in any case it will be almost impossible to fill it in one single attempt.
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  • #3,812
  • Mar 2, 2017 12:17pm Mar 2, 2017 12:17pm
Hi Lock
I' ve just a bit of confusion about your weekly balance/bracket/distribution ( i understand these words as equivalent in your post ) high or low, because someone matches, others not, may be I'm wrong but ...
... high and low levels correspond to the high and low of an inside candle on a weekly chart?
TY
  • #3,813
  • Mar 2, 2017 12:33pm Mar 2, 2017 12:33pm
Quoting thetail
Hi Lock I' ve just a bit of confusion about your weekly balance/bracket/distribution ( i understand these words as equivalent in your post ) high or low, because someone matches, others not, may be I'm wrong but ... ... high and low levels correspond to the high and low of an inside candle on a weekly chart? TY

I'll answer asap.
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  • #3,814
  • Mar 2, 2017 12:40pm Mar 2, 2017 12:40pm
So, generally I use the term bracket for major timeframes like days, weeks months. A balance is used anywhere instead, for any kind of timeframe, it could be a single m30 period (inside one), a certain amount of overlapping m30 periods, etc.
Generally I use the term distribution when I'm speaking about session profiles. For instance when I see in a profile 2 clearly distinguished distributions separed by a minus development or at least a very low valley.

ABout highs and lows it depends upon what I'm speaking about: sometime I'm writing about an inside week, and in this case the high and low will be the high and low of that particular week, sometime I'm writing about a bracket of weeks and in this case the high and low will be the higher and the lower level of that particular bracket.
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  • #3,815
  • Mar 2, 2017 1:21pm Mar 2, 2017 1:21pm
Quoting Lock
So, generally I use the term bracket for major timeframes like days, weeks months. A balance is used anywhere instead, for any kind of timeframe, it could be a single m30 period (inside one), a certain amount of overlapping m30 periods, etc. Generally I use the term distribution when I'm speaking about session profiles. For instance when I see in a profile 2 clearly distinguished distributions separed by a minus development or at least a very low valley. ABout highs and lows it depends upon what I'm speaking about: sometime I'm writing about an...
Ok , now I got it .. I think
So, remaining on the specific weekly timeframe and simplifying a lot, we use bracket when we have more candles ranging, it's like the classic rectangle or box, while if we are looking at an inside bar, a 2 candles pattern, we use the balance term.
And distribution is best used in TPO profiles

Sorry for this fussiness but, following AMVT too, bracket has a specific meaning to me and I could not figure out if the limits were determined by max and min of weekly candles or if the weekly levels were derived from a long term cumulative TPO distribution, so I was doing a kind of treasure hunt to figure out which was the correct method.

Thanks again you for your explanation
  • #3,816
  • Mar 3, 2017 1:45am Mar 3, 2017 1:45am
17/03/03 FRIDAY 08:45+1GMT
EARLY MORNING REPORT

Monthly balance, weekly attempted breakout below previous 5 weeks bracket, daily trending down in the last 4 days, probably short term and in one timeframing lower action.

Major levels upside are 23017 and 23117. Downside we have 21352 and 2088. Acceptation below the first 2 levels could lead the market to continuation down to the lower ones. Rejection below the first 2 references could insted lead the market to a complete retracement back above 23316, 23464 and 2362: meaning a re-enter in the upper weekly bracket.

Price is below the nearest composite poc at 2280 (volume is needed to evade it) and at the bottom of yesterday GB range (22583-2307). Yesterday GB session made a final attempt upside (spike) and consequently the spike base at 2291 will be our most important day timeframe reference at GB open. An open below this value could be read as an initial rejection of that attempt upside while an open above it could instead initially confirm it.

Yesterday pit session removed the last visible weak references downside and left above a new poor high: now we have 2 back to back poor highs at 2289 and at 23275. Only a new gap downside for upcoming pit session or a substantial liquidation at open could let the market skip these very weak levels.

The late 19:00+1GMT Fed Chair Yellen Speach could create problems all day long. It could also force major timeframes out of the market untill Monday.
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  • #3,817
  • Mar 3, 2017 2:03am Mar 3, 2017 2:03am
open below spike base, drove straight for overnight low. inventory is 100% short from previous GB unch.
  • #3,818
  • Mar 3, 2017 2:17am Mar 3, 2017 2:17am
Attempted breakout from yesterday GB balance range: for any meaningfull continuation downside we need acceptation below overnight low (Sydney low) and below yes GB range low 22583. If not, all the way up to composite poc ar 2280.
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  • #3,819
  • Mar 3, 2017 2:31am Mar 3, 2017 2:31am
Note A period close exactly at yes GB low: uncertain response for this first attempt downside. At the same time note that the A close occurred back inside overnight range,
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  • #3,820
  • Mar 3, 2017 2:33am Mar 3, 2017 2:33am
Quoting Lock
Note A period close exactly at yes GB low: uncertain response for this first attempt downside.
that brings me to something that ive actually been very curious about when it comes to acceptance. when we get a close directly on a certain value that we are monitoring for acceptance/rejection is that not counted as say our first period to accept?
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