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Spider's Den - WWi Edition

Tarantula

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AUDUSD shows a potential rejection around 8825 zone as we see a multiple confluence points. Historical sellers, inner trend line, fib and camarilla levels. The zone should provide initial resistance and rejections should target 8755 another retest of intramonth trendline and L3 level.
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Tarantula

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AUDUSD has a nice confluence around 8755-65 region. We can spot Hidden Bearish Divergence, which is a sign of bearish continuation, Inner Trend line, previous breakout and 50.0-61.8 fib of the divergence swing down. Above we see H3, DPP and 78.6 fib which should provide strong resistance. Target is 8675.
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Tarantula

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There has been an increased volatility on some pairs. So far it seems that USDCHF wants to proceed further up to test 9680 region. Pullback to 9575-80 (POC1) or 9555-65 (POC2) could give us fresh buying on this pair as it seems that both fundamentals and techs are aligned. History of buyers especially at POC2, Hidden bullish divergence, L4 and Fib levels are making great zone for any fresh buying. If the pair retraces it will also be a good r:r as stops are placed around 9535, just below 61.8.
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Tarantula

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USDJPY is trapped in a strong ascending channel and even fundamentals are aligned with techs. Thats why we should not expect any big retracement prior to NFP results. From technical standpoint USDJPY has 3 important POCs. The first POC is the 114.20 to 114.30 zone and it marks L3, DPP and 50.0 fib of the last swing. Also POC1 is very close to the channel bottom, making up for additional confluence. POC2 should only be touched if channel gets broken to the downside where we see deeper retracement level 88.6 % fib and previous buyers. POC2 comes around 113.40-50 region. Target for 1st POC is 115.50 for 2nd POC is 114.30 as the first target and 115.50 as the 2nd target.
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Tarantula

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I have shown this couple of times with CAMMACD ™. Its called high volatility trading. AUDCAD is showing nice High Volatility candle setup and we could see that on first attempt to sell it around 78.6, the trade was pretty successful, as there are also historical sellers around the level.2nd chance sell trade might come around 9835 at 88.6 fib retracement towards 9760 and 9735. Stop is pretty much close ( around 9855 ). High volatility candle is also trapped in the range, so for 9735 and lower 9760 needs to break first.
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Tarantula

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EURUSD is trapped in a triangle after a bearish breakout from HS variant 3 and we can see both HIDDEN BEARISH divergence ( trend continuation ) and REGULAR BULLISH divergence. That is the battle of bulls and bears. Technically the price should reach 2360 and 2280 subsequently but if 2510 is broken 2540 and 2570 are targets. I still think the price should go lower, especially because of BAD data from EZ and good USA fundamentals. Technically we can also see a consolidation in lower triangle after HS break which is also a bearish sign.
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Tarantula

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AUDNZD shows a strong confluence around POC1 and POC2 respectively. POC1 shows multiple fibs + DPP+ H3 in the 1.1085 - 1.1095 zone. POC 2 is the combination of inner trend lines fibs and H4 level. In order to follow the trend selling higher is always the first option. Target for the move is 1.1050 but only if price retraces back to possible entry zones.
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Tarantula

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GBPAUD shows nice confluence around 1.8060-70 for a fresh short trades. In that case stop is 8090 and we should try to exploit so called "fading the strength" move. Intraweek fibs and trendlines ( which have been broken) suggest a pullback towards H5, 38.2 , previous support-resistance breakout retest ( marked with orange ). Target is the ascending trend line which is thrusting L4 ( green line ). Deeper pullback in this case to above mentioned region could give us nice r:r.
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Tarantula

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Today there will be another FOMC meeting so pay attention to potential trades and try to manage the positions accordingly. EURUSD shows confluence around 2515-25 and a pullback to the region might give another possibility for longs. 2550 is also another interesting spot as Breakout trade could push the pair towards 2590 and 2635. We have 2 trend lines , one intraday and one intraweek. Both show a confluence with POC ( L3, dpp, fib). The pair is also trapped in a symmetrical triangle. Pay attention to setups before FOMC as FOMC could negate technicals completely.
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Tarantula

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NZDUSD is showing nice confluence for short setups at 7875-7890 zone. We can spot M 1 2 3 bearish pattern, an inner trend line, intra month trend line , descending intraday trend line with H3 and DPP. MACD is still below 0. NZDUSD should target 7825 and 7803. If 7800 is broken and retested 7765 is the target.
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Tarantula

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EURUSD is having a retracement ,but its still bearish on higher timeframes. Monthly, Weekly, Daily. Now we can see that EURUSD has reached 2600 but it was 20 pip short of the final target 2620. Now we can see that both inner and november trend line have been broken and rallies up to 2445 could give selling opportunities. 2470 needs to hold for intraday bearish mode. Targets are 2340 and 2285 is the final target.
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Tarantula

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On EURUSD we can see W 1 2 3 bullish pattern after 2450 has been broken today. Yesterday 2465 level was broken and judging from current PA, the EURUSD is targeting 2520. 2560 is the major hurdle and resistance, so it would take strong fundamentals and momentum to break the level. Because price has failed to close below 2400 and 2465 was broken we assume that price is in bullish mode. Both intraday and intraweek ( red ) trendlines are supporting bullish PA in confluence to W bullish pattern. In addition, blue trendline is supporting W 2450 breakout.
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Tarantula

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On EURUSD we can see W 1 2 3 bullish pattern after 2450 has been broken today. Yesterday 2465 level was broken and judging from current PA, the EURUSD is targeting 2520. 2560 is the major hurdle and resistance, so it would take strong fundamentals and momentum to break the level. Because price has failed to close below 2400 and 2465 was broken we assume that price is in bullish mode. Both intraday and intraweek ( red ) trendlines are supporting bullish PA in confluence to W bullish pattern. In addition, blue trendline is supporting W 2450 breakout.
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+40 pips after the analysis.
 

Tarantula

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After hitting our target, EURUSD has formed 3 buddha top, a variant of head and shoulders pattern. This pattern has a confluence with 61.8 and last top trendline.Due to excess volatility which could happen on Sunday ( Swiss Gold referendum ), take EURUSD trades with caution. 2510-00 is POC but have in mind due to above mentioned event, that stops should be put above recent highs ( 2610 ) targeting 2350 and 2280. The thing is as with any trade, you need to calculate risk. Recommended risk is 0.3-0.5 % per trade.
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Tarantula

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AUDUSD is in a bearish trend and on intraday chart we can see a retail gap which is making for a confluence with DPP, then gap trend line , where both are below intraweek trend line. 8510-8500 could be the chance for new shorts targeting L5 around 8450. Australia is also a large producer of gold and SNB referendum decision does not go in favor of AUDUSD pair.
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Tarantula

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AUDUSD is in a bearish trend and on intraday chart we can see a retail gap which is making for a confluence with DPP, then gap trend line , where both are below intraweek trend line. 8510-8500 could be the chance for new shorts targeting L5 around 8450. Australia is also a large producer of gold and SNB referendum decision does not go in favor of AUDUSD pair.
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+30 to + 40 on this one.
 

Tarantula

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On EURUSD we see a nice that the pair has formed a nice equidistant channel. EURUSD is in strong downtrend and the pair is making the confluence with 23.6 fib, previous sellers, H3 and DPP. POC point is also touching previous sellers zone, so short term trades to the short side might happen around 2340-2350. Breakout retest has happened at 2375 level so EURUSD should target 2290 again after a pullback to POC. ECB conference will be held today with minimum bid rate announcement , so its advised to close all your short term positions prior to ECB.
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Tarantula

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EURJPY is in strong uptrend. 150.00 is the target for EURJPY. 148.50 and 148.20 are POCs. If retracement happens we should monitor PA around these zones for a possible trend setup. 149.15 if broken will proceed to 149.30 and BPC ( Breakout Pullback Continuation ) might give us a breakout trade. Mind you however that 149.30 is resistance so watching the price around 149.30 is suggested on the break of 149.15.
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Tarantula

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EURJPY is in strong uptrend. 150.00 is the target for EURJPY. 148.50 and 148.20 are POCs. If retracement happens we should monitor PA around these zones for a possible trend setup. 149.15 if broken will proceed to 149.30 and BPC ( Breakout Pullback Continuation ) might give us a breakout trade. Mind you however that 149.30 is resistance so watching the price around 149.30 is suggested on the break of 149.15.
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+85 after price hit POC zone
 

Tarantula

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For all of you who still dont know, each Monday I am hosting a FREE webinar with Admiral Markets, where I post 5 different setups with Entries, stops and targets.
Its Weekly FX Recap. Starts at 6 PM CET ( 5 GMT )
 

Tarantula

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GBPUSD is in bearish trend and today we see a nice retracement. POC stands around 5640-5650. Inner trendline (red ), intraweek trend line (blue) , fibs and H4 are making a confluence. In order for 5500 to be hit 5700 should not be broken.
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Tarantula

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EUR does not have any major news today so its still risk on mode. We could see some retracement to 2350-30 and that is the place where buyers are. Fibs, previous breakout and L3 level is making for a POC. The POC is also coming from V shape reversal and we assume that EURUSD is in intraday bullish mode. Because there are no so important data today EURUSD might have a bullish L3 H3 range play.
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