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Spider's Den

Quoting [email protected]
{quote} 1.0580 has been reached - +70 pips ACCU pivot point too {image}
Hi T, eur/usd pair has currently break below 1.06 as mentioned in the analysis.
Can we continue to pursuit the extension tp as mentioned at 1.052?
Quoting dhinesk
I planned to go short at H3....but it didn't qualify.... {image}
You should have taken a bearish wedge breakout, as explained in the analysis
Quoting fx-anew
{quote} Hi T, eur/usd pair has currently break below 1.06 as mentioned in the analysis. Can we continue to pursuit the extension tp as mentioned at 1.052?
Yes but not today i guess. 1.0582 is S3 for today ( Lo open till Lo open ) 24h valid
Does EUR/GBP still valid from the first POC...I'm still holding this trade
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Quoting dhinesk
Does EUR/GBP still valid from the first POC...I'm still holding this trade {image}
Take the profits or scale out It rejected for 70 pips initially
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The EURAUD pair is in a strong downtrend. We can see that the pair is literally swimming through equidistant channel. A precise zigzag pattern inside an equidistant channel is telling us that the pair is sold on rallies. However we can also see - Inverted Head and Shoulders pattern and the price is very close to POC. 1.4725-40 is the zone where we could look for rejections. POC (61.8, E89, bullish order block) is also aligned with historical sellers.
The current price is 1.4696 and we can also see 2 pinbar rejections which are telling us that the price may drop from the current level too.(INV Head and Shoulders neckline). Anyway it is a good time to be ready for any action which might happen now or in POC zone. The target for the move is 1.4625 and if the level is broken we should see 1.4590. Only if 1.4590 breaks the target is 1.4500 - a continuation trade.
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Quoting [email protected]
Reffering to my previous post where I made short entry with 4.3 pips stop loss and 17 pips profit, I post another chart. When I detect trend, It goes simply- retrace> sell, retrace> sell. White marker is retrace, red marker sell. As I say> always enter on a retrace. {image}

I have a question, what's the value of both the moving averages shown in this pic...
Quoting dhinesk
{quote} I have a question, what's the value of both the moving averages shown in this pic...
Only 1 MA - It is EMA 89
Quoting [email protected]
The EURAUD pair is in a strong downtrend. We can see that the pair is literally swimming through equidistant channel. A precise zigzag pattern inside an equidistant channel is telling us that the pair is sold on rallies. However we can also see - Inverted Head and Shoulders pattern and the price is very close to POC. 1.4725-40 is the zone where we could look for rejections. POC (61.8, E89, bullish order block) is also aligned with historical sellers. The current price is 1.4696 and we can also see 2 pinbar rejections which are telling us that the...
Rejecting from POC +25 currently
EURAUD +60 pip rejection prior to bounce

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Hey [email protected]!
Got another question for you: did you ever take part in some of the Forex contests or do you think that it is total waste of time?
Cuz I wanted to take a part in some of the contests and I am not sure if I should. Of course, I do not dream about winning main prize in the contest or finishing in top-3. But for me, knowing how good I am in comparison to other traders is important. How do you think, is it worth it?
Furthermore, I would be grateful if you will tell me which one of these contests: http://forextradingbonus.com/forex-competitions-list/ is good from your point of view.

Thank you in advance!
Hi guys, I have just published a new blog entry focusing on - how not to lose the money when trading.

You can read it HERE

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Quoting [email protected]
Hi guys, I have just published a new blog entry focusing on - how not to lose the money when trading. You can read it HERE {image}
Thank you !
Back from the dead * ding fries are done *
Quoting ryder950
{quote} Thank you !
You are welcome Ryder!
Quoting nolimitz
Hey [email protected]! Got another question for you: did you ever take part in some of the Forex contests or do you think that it is total waste of time? Cuz I wanted to take a part in some of the contests and I am not sure if I should. Of course, I do not dream about winning main prize in the contest or finishing in top-3. But for me, knowing how good I am in comparison to other traders is important. How do you think, is it worth it? Furthermore, I would be grateful if you will tell me which one of these contests: http://forextradingbonus.com/forex-competitions-list/...
Hey NoLimitz!

Yes i have taken a part only once. I was in the top 10 during first day but later I finished positive yet far from winners. Demo competitions are fun but not to be confused with REAL trading. So for me , it was hard to abandon strict MM rules. MM doesnt work in demo competition.

However it is a fun thing and if you win it you can earn a real credit to your account. As for the website. Yeah, it looks good, so traders can pick up whatever they want. I advise going with Admiral Markets ofc Fully regulated FCA license and a real thing.
There are two VERY imporant, key meetings this month. FED and ECB. ECB meeting is scheduled for this Thursday and we need to be very careful. There is a possibility for a rate cut by 10/20 bp although the expectations are that there will be no cut, but we need to be prepared for everything. The inflation is low, EU zone recovery is stagnant, EM (Emerging Markets) are slowing down and ECB could take action. Adding to that I also expect further QE.
Technically the EURUSD is contained within the equidistant channel and we might see some weaker price action until Thursday. That being said the pair is still in "Sell the Rallies" mode. The first POC (DPP,38.2,E89) is in 1.0610-20 zone while the 2nd POC is just a bit higher in 1.0640-50 zone ( double top, EQ channel high, 61.8). If the pair manages to stay below 1.0690 we could see a further drop towards 1.0520.
EURUSD is moving slowly which is normal considering an upcoming ECB meeting and I dont expect anything big before Thursday.

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My latest interview with Fxstreet
Fellow Spiders, just a small post on my view re: the AUDJPY pair.
http://www.forexfactory.com/showthre...59#post8617859
Quoting PariCovek
Fellow Spiders, just a small post on my view re: the AUDJPY pair. http://www.forexfactory.com/showthre...59#post8617859
Hey mate! You got it right. I know you are an excellent trader and you were completely right. AJ bounced heavily!
Hey [email protected]!
Thanks for a reply about demo competitions, probably I will go for Forexball in the beginning of 2016, but we will see
Anyway, how many Forex books did you you read before you started trading? And how is your overall impression about Forex education, is it required for the beginning or should I just go into trading and see how it goes?
I was thinking about reading this book: http://forex-library.com/steve-nison...arting-basics/, what is your opinion about it, or should I read something else?
Thanks
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