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Spider's Den

Quoting T@rantula
{quote} Thank you D Basically it took me app 6 month to complete the method which is suitable for Low to High build up. The method is named ACCU PP method and it has been developed the same time with HARP. I always put small amount of money to actually test LIVE performance and of course as with any project I had losses initially. The losses are actually good ( I always take it as normal, production expenses ) because you can see where the real strength and weakness of the system is. After some initial losses after we have completed the method I...


Looks really impresive.

You opened manually trades or you had ACCU PP, HARP CAMMACD as Expert advisors?
Quoting LatvianFX
{quote} Looks really impresive. You opened manually trades or you had ACCU PP, HARP CAMMACD as Expert advisors?
Thanks

All traders have been done manually. I never use EAs. And the above statement shows only profits from ACCU PP trades. ( I have separate statements for CAMMACD, but it is not suitable for low accounts build up )
The light volume and lower volatility made AUDUSD possible trade bidirectionally. The initial rebound from 0.7050 made 30 pips initially as suggested on previous Session Recap webinar followed by a decline caused by investors dumping assets. Today's FED's chief Yellen testimony could be volatile and that is why I recommend caution. The testimony has been scheduled for 15:00 GMT. As head of the central bank, which controls short term interest rates, she has more influence over the nation's currency value than any other person so pay attention to subtle clues about future monetary policy.
Technically the AUDUSD could retrace towards POC zone (0.7125-40) that consists of H3, triple top, 61.8 and X-cross ™. However, we can also see Inverted Head and Shoulders pattern on H1 but also a HUGE Head and Shoulders variant characterized by the triple top.If the price rejects from POC it could target 0.7080-70 (EMA89 and 38.2 fib) potentially going lower towards 0.7030 and 0.7000. If the price makes a 4h close above 0.7150, bearish rejection could be negated.

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Quoting T@rantula
The light volume and lower volatility made AUDUSD possible trade bidirectionally. The initial rebound from 0.7050 made 30 pips initially as suggested on previous Session Recap webinar followed by a decline caused by investors dumping assets. Today's FED's chief Yellen testimony could be volatile and that is why I recommend caution. The testimony has been scheduled for 15:00 GMT. As head of the central bank, which controls short term interest rates, she has more influence over the nation's...
AUDUSD rejecting atm

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Quoting T@rantula
{quote} AUDUSD rejecting atm {image}

140+ pips drop from POC

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Quoting T@rantula
{quote} 140+ pips drop from POC {image}
Great trade T!

What is your target price?

Tnx
Quoting FX MiG
{quote} Great trade T! What is your target price? Tnx
Thanks! Huh, already made it to the target. The target was overshot. The thing is equities gave us the headwind too. Perfectly aligned with analysis. Rio Tinto's dividends + DAX tanking.
USDJPY has tanked breaking important patterns and supports clearly showing risk-off sentiment. Purely risk off sentiment across markets is the cause for Yen to appreciate against the G10 currencies.Many carry trades involving cheap credit from Japan are invested across foreign markets, and during risk-off, many of those trades are reversed and repatriated back into Yen, causing demand for Yen.
Technically USDJPY still has the room to fall down. As we can see on the chart, bear pennant has been broken to the downside making USDJPY hit L5 weekly CAM support. Pullbacks within POC zone 113.90-114.10 could be used for another short selling. The zone shows strong confluence selling at the Bearish pennant breakout and we should see institutional selling again if the price retraces.
However if the price breaks now moment double bottom -110.98 it should proceed to 110.06 previous weekly high.
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Hi guys,

The latest EURUSD analysis can be found on Fxstreet HERE

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Hi guys,

"The importance of having a mentor" - new article has been published. You might find it useful

You can read it HERE.

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We have heard many times before "Buy the dips, sell the rips". Recently we had some USD gains and there were some rumours that OPEC may cut production, so Oil price went up. If OPEC cuts production traders should go long all equities with both CAD and RUB currency crosses.Remember Oil is connected to CAD and RUB. Because USA and Canadian markets are on holiday we are not seeing some big price movements at this moment.
Technically USDCAD is showing multiple patterns suggesting that selling on rallies is the option. At the top price has failed to break the neckline of inverted Head and Shoulders. It dropped heavily making a correction with the successful break of inverted head and shoulders at the bottom. The backwind of Inverted Head and Shoulders made a Bear flag variant pattern and 1.3885-1.3900 looks like a good place to short. POC (38.2, H3, EMA89, H3, DPP) should hold the price and in the case of positional POC sell the target is 1.3780. Any breakout below 1.3780 targets 1.3710. We should pay attention to current price around 1.3820 as it shows a potential inverted head and shoulders in progress which if realized could spike the price UP towards our POC for a subsequent sell.

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Yesterday Session Recap

Good profits on EURUSD AUDUSD USDCAD currently. Video will be uploaded soon.
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GBPUSD...almost!
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USDJPY in accordance with yesterday's article

http://www.fxstreet.com/analysis/con...ts/2016/02/15/
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GBPUSD is currently around 1.4276 but I expect a bounce. Good Claimant Count Change numbers ( the first indication of the employment situation ) along with good Unemployment numbers could spike the price up towards POC 1.4385-95 (EMA89, L4, 50.0, historical breakout). There is also a bullish divergence that is aligned with good fundamental numbers.
If we get a bounce towards POC, we should see now moment sellers towards 1.4350 and 1.4275 again. Only the break below 1.4250 would tank the price down towards 1.4200 but it is hardly to happen now due to divergence and L5 weekly camarilla PP.

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EURUSD has made the Extended V Bottom on daily chart. The characteristic of this pattern is that the price of the V bottom will form a reversal that is followed by a down-sloping trend line or channel usually in the form of a triangle or pennant.
Extended V bottom on the EURUSD chart has been very distinctively followed by a bullish pennant that broke to the upside making its target at 1.1376. My previous EURUSD analysis showed that 1.1085 was indeed a very strong support and the price has been rejecting 1.1130 last 3 days. That is because price sits at H5 – previous resistance, now support that holds the price from falling further. Should 1.1085/H5 break to the downside than we could see 1.0980 - the POC zone (L4, EMA89, Bullish pennant breakout) where next bounce is expected (breakout-retest on daily time frame) towards upper Extended V bottom target 1.1370.
Please note that this is daily chart so watch for daily candles, bounces off 1.1130/1.1085 and if 1.1085 breaks, downtrend towards 1.0980.

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Hi guys,

You might take a look at new blog post - Top do’s and don’ts when choosing a Forex broker

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Hi guys

Relax and read about Low to High build up project as stage 1 has been completed


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As we know AUDUSD is a hard commodity currency.Basically, when its risk-on environment, commodities prices tend to increase, and traders go long AUD due to that factor. When commodities prices go up, Stock Markets go up and there is demand for positive swaps on AUD pairs currently as opposed to JPY (JPY weakened today). AUD bounce has also been stimulated by the PBOC, Oil and RBA. Oil is connected to commodity currencies so it gave AUD additional boost.
Technically AUDUSD is showing a possible breakout and positional trading. The pair is slowly grinding up in an ascending channel towards important levels. If the price retraces to 0.7130-40 POC (50.0, WPP, EMA89) we might see another bounce towards 0.7212. The price is currently 0.7191 so we might even see a direct test of 0.7212 before any retracement.
If the price closes above the channel and makes a breakout above the channel and H4 confluence (0.7215), next level should be 0.7267. So pay attention to any retracement towards POC for long setups or a breakout as stated above.

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USDCAD - trade of the week - Session Recap webinar Free sign in here

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