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Spider's Den

Quoting [email protected]
{quote} Pay attention to official bank rate data today. GBPUSD will move a lot . Also, dont forget it is still uptrend for GBPUSD
yes... 5351 can be bought for 5617 if news allows.
Hey [email protected]!
How do you think, are there going to be any major news or should I trade due to results of technical analysis? Is there a high chance of any uncertain situation?
Quoting nolimitz
Hey [email protected]! How do you think, are there going to be any major news or should I trade due to results of technical analysis? Is there a high chance of any uncertain situation?
NFP was the major release. GBPUSD will have a strong data release on Wednesday so pay attention to that (Claimant Count change )
As presumed GBPUSD has climbed up. Dont go into counter trends now.
GU, would enter with trend on pull back
GBPJPY has broken through previous range ( marked in red ) and it is relentlessly going up. Trading is also about being patient, and for a big move we also need a big pullback. From the technical perspective we have a good confluence - POC in the 186.00-186.30 ( L3,DPP) zone. The buffer zone is bigger as GBPJPY has made 282.9 pips of previous ATR and 215 is the 5 day range (!). it also shows a PERFECT confluence at previous swing (blue line )which is a triple top and point breakout in the past with 38.2 fib. We also see a bullish trend line which is holding the pair in the upper range.
So if we get a pullback we should monitor POC as rejections could propel the pair up to 188.00 and 188.55 initially. Also H4 close above H3 level on the breakout without a pullback targets H4 camarilla level.

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Quoting H4-forex
Yep, the GBPJPY has behaved very correctly.
EURUSD 1.1280 is important resistance. If it breaks 1.1315 is next followed by 1.1340. Failure to break 1.1280 might put the pair into a range play
As we could read in previous analysis and trade setups, dip at 1.1150 was strongly bought but EURUSD failed to close above 1.1280 subsequently. Currently EURUSD is forming M reversal pattern with a descending trend line and that could tank the price down to 1.1160 and 1.1130. If the price closes below 1.1130 it should target 1.1065 last line of bullish defense. However, if the pair fails to make a breakout of M pattern it could target 1.1280 and the break of 1.1280 targets 1.1360.
At this point, we could see a drop from 1.1230-1.1220 zone and if M succeeds it should target 1.1160 and 1.1130

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Failed M reversal pattern. 1280 broken
EURUSD has almost reached the first breakout target zone 1.1365
USDJPY has withstood a big pullback after a disappointing US Retail sales results yesterday. However 118.00 still holds and any pullback could be used for buying into dips towards 120.40 and 120.80. On the technical chart we can spot a forming M pattern which is very hard to break now due to a cluster of technical support levels.
Historical and near term wicks indicate buying off from 118.90 and 118.50 zones. H4 chart also shows a higher low on forming M and 78.6+L3+Trend line are making a confluence on the first POC, POC2 is deemed a bigger pullback within the trend context ( double bottom + L4 ) towards above mentioned targets.

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"Now heres a funny thing. Shares in a Canadian banknote printing firm have soared this month, amid rumours that it has a deal with Greece to produce a new currency if it left the eurozone.

Shares in Vancouver-based Fortress Paper jumped from 2.30 Canadian dollars to over C$4 this week, before dipping back to C$3.75 last night."

Quote:
http://www.theguardian.com/business/...io-draghi-live
Quoting PariCovek
"Now heres a funny thing. Shares in a Canadian banknote printing firm have soared this month, amid rumours that it has a deal with Greece to produce a new currency if it left the eurozone. Shares in Vancouver-based Fortress Paper jumped from 2.30 Canadian dollars to over C$4 this week, before dipping back to C$3.75 last night." Quote: http://www.theguardian.com/business/...io-draghi-live
Very interesting read..It is still a rumor, but we all know they will get back to Drachma if that happens. From my point of view at least how the things are standing now, Greece will not exit from Eurozone.
Quoting [email protected]
{quote} Very interesting read..It is still a rumor, but we all know they will get back to Drachma if that happens. From my point of view at least how the things are standing now, Greece will not exit from Eurozone.
If that ever happens the Euro house of card will crumble. (slowly but surely)...Not to mention Cameron wants a referendum to leave the EU. (of course that would be easier for them since they don't have the Euro to begin with...Then again , maybe it was all talk to take votes from Farage). Either way , i don't see how the Euro will last on the long run. It's more of a political currency than an economical one.
Quoting [email protected]
{quote} Very interesting read..It is still a rumor, but we all know they will get back to Drachma if that happens. From my point of view at least how the things are standing now, Greece will not exit from Eurozone.
its a rumour ... greece has its own printing house in athens greece which is already printing designated "currency parts" of the euro as all countries in euroarea do (as long as they have their own "currency printing" houses...or outsourcing to the ones who used to do it for them)
Quoting onoff
{quote} If that ever happens the Euro house of card will crumble. (slowly but surely)...Not to mention Cameron wants a referendum to leave the EU. (of course that would be easier for them since they don't have the Euro to begin with...Then again , maybe it was all talk to take votes from Farage). Either way , i don't see how the Euro will last on the long run. It's more of a political currency than an economical one.
I agree, and they are still throwing the problems under the carpet. Greece should stay in due to EU zone stability else Portugal,Spain,Italy,Ireland problems will come again to surface.

Very hard position for both EU and Greece, looks like a stalemate
Jobless claims fall

http://www.bloomberg.com/news/articl...to-15-year-low
Quoting [email protected]
{quote} I agree, and they are still throwing the problems under the carpet. Greece should stay in due to EU zone stability else Portugal,Spain,Italy,Ireland problems will come again to surface. Very hard position for both EU and Greece, looks like a stalemate
btw ,(a bit off topic) there's a gigantic bearish pin bar (because of the news) on the 1min EURUSD. (i'm trading the one hour) , but i'd like to have your opinion...Is it safer to wait for a close below the pivot line (H3 pivot)... And wait for the retest with a sell limit ? or Retest + sell stop under (wait for the break of the retest candle ? (I've noticed that price has already close under other pivot points i'm using but not yet under the camarilla..)...Or are none of these conservative enough ? (should i just patiently wait for a big bearish candle to close on the 1 hour , then start looking at lower timeframes for the retest ?)....

I'm still learning...that's why i'm asking so many stupid questions
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