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Spider's Den

Quoting egkid
{quote} yep agree Nov 6, 2015 6:12pm {quote}
Exactly, I would prefer to sell it again from there, not now
Quoting T@rantula
The EURUSD dropped like a stone after much better than expected NFP report hitting 1.0710 a historical support which holds the price from proceeding lower. The trend is clear and we also need to watch a possible position where we could enter another sell. H3, WPP, EMA 89 and the top of the equidistant channel mark the zone where we could expect another rejection. The zone is 1.0820-35. A rejection from the zone should target 1.0710 initially. 1.0706 is double bottom so a strong break of 1.0705 should accelerate the price towards 1.0670-50 (Monthly...
1.0710 break to 1.0670 zone then BUY scalp trade for 30 pips as presented on Session Recap webinar

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Quoting T@rantula
{quote} Exactly, I would prefer to sell it again from there, not now
I buy [email protected] tp 1.0830 sl 1.0724
risky but i will take it
The USDCAD is currently in retracement mode on higher time frames. Housing prices in Canada dropped from a 3y high reading (231.3 to 198.1) and we could also read OECD forecasts that Canada's Eco growth will slow down this year.
The correlation on H4 timeframe is highly negative with GBPUSD and strong negative with EURUSD so if those pairs are heading down, USDCAD will surge up. Currently USDCAD is very close to POC which comes in 1.3215-35 zone and is already started to reject it. POC is showing inverted Head and Shoulders variant 2 pattern ( Leaned Inv Head and Shoulders ) with L3, previous swing and EMA 89. The zone could reject the pair towards 1.3320 and 1.3370. Additionally H4 timeframe is showing higher high and higher low so when we zoom in to H1 timeframe, we see POC clearly.
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GBPUSD initial +50 pip rejection after the analysis

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Quoting egkid
{quote} I buy [email protected] tp 1.0830 sl 1.0724 risky but i will take it
out +5
want lower price
Quoting egkid
{quote} out +5 want lower price
yes we could see 1.0620 if 1.0670 breaks.
Today's Price Action Trading School webinar starts at standard time as always - 17 GMT. Sign in HERE
USDCAD +50 currently

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The USDCHF is in a strong uptrend, boosted by recent talks about possible rate hike in December and a very positive NFP data last Friday.
Technically we see a bullish zigzag and a confluence of L3, WPP and previous breakout-retest zone which makes a POC. POC is 0.9975-0.9995 zone and rejection from the zone targets 1.0180. If the pair closes above 1.0180 it should proceed to 1.0290. 0.9915 is a strong support ( L4, EMA 89, Trend line ) and it needs to hold for the price to remain bullish.
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Hi T@rantula, IMHO. How could that TL be possible with a single touch? Wouldn't this be like trying to forecast the future with no past? This is the only TL I can see atm. Tks.
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Quoting FunCoupons
Hi T@rantula, IMHO. How could that TL be possible with a single touch? Wouldn't this be like trying to forecast the future with no past? This is the only TL I can see atm. Tks. {image}
It is actually possible if you use T's method of analysis.
He is currently using EMA/SMA analysis to deduct on the possible price action of this pair.
If by SMA, the price that he place is actually a rather strong support on H1 SMA 100 and H4 SMA 50.
That why IMHO, I think this is why he has the POC at that the mentioned price...

Please correct me if I'm wrong, T.
I sincerely hope I can learn here.

Regards.
Quoting fx-anew
{quote} It is actually possible if you use T's method of analysis. He is currently using EMA/SMA analysis to deduct on the possible price action of this pair. If by SMA, the price that he place is actually a rather strong support on H1 SMA 100 and H4 SMA 50. That why IMHO, I think this is why he has the POC at that the mentioned price... Please correct me if I'm wrong, T. I sincerely hope I can learn here. Regards.
Very close As you could see the price rejected initially for 40+ pips from POC
Quoting fx-anew
{quote} It is actually possible if you use T's method of analysis. He is currently using EMA/SMA analysis to deduct on the possible price action of this pair. If by SMA, the price that he place is actually a rather strong support on H1 SMA 100 and H4 SMA 50. That why IMHO, I think this is why he has the POC at that the mentioned price... Please correct me if I'm wrong, T. I sincerely hope I can learn here. Regards.
Tks, but yeah we can only put our imagination to work. Nothing will change the fact that to have at TL you need at least 2+ touches.
Quoting T@rantula
The USDCHF is in a strong uptrend, boosted by recent talks about possible rate hike in December and a very positive NFP data last Friday. Technically we see a bullish zigzag and a confluence of L3, WPP and previous breakout-retest zone which makes a POC. POC is 0.9975-0.9995 zone and rejection from the zone targets 1.0180. If the pair closes above 1.0180 it should proceed to 1.0290. 0.9915 is a strong support ( L4, EMA 89, Trend line ) and it needs to hold for the price to remain bullish. {image}


I got HIT SL....it's okay manage to recover through by selling CAD/JPY
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The GBPUSD has rejected from 1.5180 initially but it stopped in 1.5130 zone being unable to proceed lower. 1.5210 was hit afterwards making it strong POC at this time. But as we can see on the chart POC is actually a CONGESTION zone so the reaction to both longs and shorts could be limited in effect and that is why we need to watch for possible breakout points.
To the upside we have important 1.5250 zone ( consolidation top, H3 ) so a bounce above 1.5250 should target 1.5275 and 1.5305. If the price proceeds below 1.5190 ( 89EMA, L4, trend line, consolidation bottom ) the target is 1.5155. If the momentum is strong we should pay attention to next targets ( historical levels of s/r on higher time frames ). Above 1.5305, 1.5360 is the target and below 1.5155 the pair could reach 1.5090.
So the most important thing for the pair is to move off from congestion zone towards any of the breakout points.
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Quoting dhinesk
{quote} I got HIT SL....it's okay manage to recover through by selling CAD/JPY {image}
You didnt read my analysis carefully. POC is 0.9975-95. The price came to POC without ANY pip of drawdown and rejected for 40+ pips 2 times. SL was never close nor hit

Check the chart and read the analysis carefully next time

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Quoting FunCoupons
{quote} Tks, but yeah we can only put our imagination to work. Nothing will change the fact that to have at TL you need at least 2+ touches.
Fortunately this is not any imagination. I use my own methods which are proven to work. Whatever the case- the profits are here
Quoting T@rantula
{quote} You didnt read my analysis carefully. POC is 0.9975-95. The price came to POC without ANY pip of drawdown and rejected for 40+ pips 2 times. SL was never close nor hit Check the chart and read the analysis carefully next time {image}

Yes, Mr.Nenad, I knew I went into the trade earlier before it touches the POC, sorry for the not reading it clearly.
Quoting dhinesk
{quote} Yes, Mr.Nenad, I knew I went into the trade earlier before it touches the POC, sorry for the not reading it clearly.
No problem. Remember that POC is always entry zone
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