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Spider's Den

  • #15,461
  • Edited 12:52pm Aug 21, 2012 11:28am | Edited 12:52pm
Helo guys im back from vacation. I will start trading from tomorrow, especially next week we are slowly back to normal volatility.

My batteries have been charged, we are back to study price action and good setups. I hope u all have had a good vacation.

My opinion is that u shouldnt trade every day especially summer holidays when banks and institutional funds are having holidays too. Thats why we earn money whole year, so we are able to spend it and have great holidays, so we can spend 2 months only ENJOYING

Get ready for business!

T
  • #15,462
  • Aug 22, 2012 2:01am Aug 22, 2012 2:01am
Quoting T@rantula
Helo guys im back from vacation. I will start trading from tomorrow, especially next week we are slowly back to normal volatility.
Welcome back .
  • #15,463
  • Aug 22, 2012 3:40am Aug 22, 2012 3:40am
Quoting Chika Kure
Welcome back .
TY Kure!
  • #15,464
  • Aug 22, 2012 3:43am Aug 22, 2012 3:43am
Judging by last weeks PA, EU is bound to touch 2500 where 2510 is next resistance point. Thorough analysis comes soon.
  • #15,465
  • Aug 22, 2012 4:06am Aug 22, 2012 4:06am
We can see that UPTREND has started on 24th of July and that we are in ASCENDING UPTREND formation targeting 2500/2510.

Look at those levels they are very close to each other but they give perfect targets as upper S/R line gives FLAT TOP thus making a complete ASCENDING FLAT TOP triangle where pinnacle/vortex of triangle will be consolidation point before next breakout.

I told u many times that I dont believe that EU will be undone any time soon and SUPER MARIO financial construction should support EU mid term.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 82 KB
  • #15,466
  • Aug 22, 2012 4:16am Aug 22, 2012 4:16am
Ascending triangle was broken yesterday IMO... 2440 level.
Attached Image (click to enlarge)
Click to Enlarge Name: eu-h4.gif Size: 26 KB
  • #15,467
  • Aug 22, 2012 4:24am Aug 22, 2012 4:24am
There is a possibility for a PB on H1 timeframe where price is consolidating. Buy lower is the option for trend following.

Countering the trend could be valid around 2470 with 15 point stop, targets 2450 and 2420.
  • #15,468
  • Aug 22, 2012 4:35am Aug 22, 2012 4:35am
Quoting Chika Kure
Ascending triangle was broken yesterday IMO... 2440 level.
If u draw s/r lines manually u could see strong reactions to 2500-2510. Put a horizontal line there and connect it to the ascending TL starting from 24th of July. That is when the uptrend has started. The reason I dont see 2440 as important is there is no vortex/pinnacle there. Its 2500-10 where it shows a vortex so there should be a compression(consolidation) when we get there.

The price should touch 2500-2510 and compress a bit then. If we dont have a PB to 2450/2420 ( as a counter trend trade) this could signal a possible continuation pattern to 2650 in next few weeks.

Thats why i showed a possible counter trade around these levels. U can see 2465/70 reaction. The price wants to retrace but it doesnt have momentum.
  • #15,469
  • Aug 22, 2012 6:22am Aug 22, 2012 6:22am
Quoting T@rantula
There is a possibility for a PB on H1 timeframe where price is consolidating. Buy lower is the option for trend following.

Countering the trend could be valid around 2470 with 15 point stop, targets 2450 and 2420.
Valid configuration well played. 15 stop risk only as said above.

Attached Image (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 64 KB
  • #15,470
  • Aug 22, 2012 7:52am Aug 22, 2012 7:52am
Almost all targets have been met, I advise closing it now or putting a trailing stop. We are having a counter trade for good amount of pips.
  • #15,471
  • Aug 22, 2012 1:16pm Aug 22, 2012 1:16pm
Quoting T@rantula
If u draw s/r lines manually u could see strong reactions to 2500-2510. Put a horizontal line there and connect it to the ascending TL starting from 24th of July. That is when the uptrend has started. The reason I dont see 2440 as important is there is no vortex/pinnacle there. Its 2500-10 where it shows a vortex so there should be a compression(consolidation) when we get there.
Quoting T@rantula
There is a possibility for a PB on H1 timeframe where price is consolidating. Buy lower is the option for trend following.

Countering the trend could be valid around 2470 with 15 point stop, targets 2450 and 2420.
Both setups have been played out perfectly. First, counter trade ( retracement in uptrend) after that, dip has been bought as stated above.
2510 has been touched, triangle has been completed.
I will post daily setups ( both trend and counter trend) along with EU analysis.
  • #15,472
  • Aug 24, 2012 3:11am Aug 24, 2012 3:11am
Good morning guys, market is going sideways atm, but the intraday trend slowly changes to bearish.

GBPUSD setup:

There might be a short opportunity at blue quadrant levels on the chart. 5855-5872 for a retrace then short on confirmation ( candle or 5min entry point).

Still no good setup for EURUSD as price is congesting close to support/resistance . Cant long now and for shorts its better to wait for a retrace.

Attached Image (click to enlarge)
Click to Enlarge Name: g.jpg Size: 170 KB


Ofcourse we need to wait for a news release, If it turns out green, dont enter short w/o first waiting for a spike up.
  • #15,473
  • Aug 24, 2012 3:24am Aug 24, 2012 3:24am
Quoting T@rantula
Good morning guys, market is going sideways atm, but the intraday trend slowly changes to bearish.

GBPUSD setup:

There might be a short opportunity at blue quadrant levels on the chart. 5855-5872 for a retrace then short on confirmation ( candle or 5min entry point).

Still no good setup for EURUSD as price is congesting close to support/resistance . Cant long now and for shorts its better to wait for a retrace.

Attachment

Ofcourse we need to wait for a news release, If it turns out green, dont enter short w/o first waiting...
PA may test the daily pivot 1.2555 from here as we may notice a bullish pattern on m5
Attached Image (click to enlarge)
Click to Enlarge Name: eu5min.gif Size: 23 KB
finding A M S
  • #15,474
  • Aug 24, 2012 3:27am Aug 24, 2012 3:27am
Quoting T@rantula
Good morning guys, market is going sideways atm, but the intraday trend slowly changes to bearish.

GBPUSD setup:

There might be a short opportunity at blue quadrant levels on the chart. 5855-5872 for a retrace then short on confirmation ( candle or 5min entry point).

Still no good setup for EURUSD as price is congesting close to support/resistance . Cant long now and for shorts its better to wait for a retrace.

Attachment

Ofcourse we need to wait for a news release, If it turns out green, dont enter short w/o first waiting...
Good to see you back from vacations tarantula . hope U had great time been there .
finding A M S
  • #15,475
  • Aug 24, 2012 3:35am Aug 24, 2012 3:35am
Quoting prashant7
Good to see you back from vacations tarantula . hope U had great time been there .
Thank you, it was great!
  • #15,476
  • Aug 24, 2012 3:44am Aug 24, 2012 3:44am
Hi T!

Welcome back!
  • #15,477
  • Aug 24, 2012 4:01am Aug 24, 2012 4:01am
Shorted EU @ 2545 (only 0.02 lot size)
TP1 @ 2539
TP2 @ 2530
SL @ 2550

Chart will follow.
What do you think?
  • #15,478
  • Aug 24, 2012 4:05am Aug 24, 2012 4:05am
5 M EUR. I think I should have waited out the PP hit.
Attached Image
  • #15,479
  • Aug 24, 2012 4:12am Aug 24, 2012 4:12am
Quoting hfcgII
Shorted EU @ 2545 (only 0.02 lot size)
TP1 @ 2539
TP2 @ 2530
SL @ 2550

Chart will follow.
What do you think?
For a scalp it can go thru...but the momentum has shifted slightly to upside.

4h is bearish but m15 and m30 are bullish. This might be good for a long setup @ 2545 with 15 pip stop, but the price is compressed.
  • #15,480
  • Aug 24, 2012 4:14am Aug 24, 2012 4:14am
Quoting T@rantula
Thank you, it was great!
As told PA is about to test 2555 in mins that bullish pattern on m5 worked good as support
Attached Image (click to enlarge)
Click to Enlarge Name: 2eu5min.gif Size: 24 KB
finding A M S
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