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Tarantula

Member
CADJPY is in nice downtrend. At 103.50-55 zone we can see a confluence of previous buyers at breakout point (C3) and presumably fresh sellers along with 50.0 fib. Intra week trendline is also capping its zig zag and its very close to h4 also. Targets for the rejection are 103.00 and 102.50
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Tarantula

Member
From intra week perspective EURUSD is targeting 2620 region. We see the inner trend line/3 buddha bottom/V shape reversal. Monthly Inner trendline intersects POC point. For 2620 to be reached 2280 must hold. The main event will be FOMC on Wednesday 17th Dec.
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Tarantula

Member
GBPUSD shows a confluence around 5695-5705 zone with a perfect touch of L4 breakout level.If the price is rejected at this region and if it doesnt exceeds 5740 it will target now moment low ( 5640 ) and of ot breaks 5610. 5740 level needs to hold as it is a strong confluence of resistance, H4 trendline and intra week trend line.
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Tarantula

Member
USDCAD is in uptrend. POC1 comes around 1620. We see an inner trend line, intraday trend line, 50.0 fib and near term buyers. 1670 is the target if the price rejects at the region. Now, we could also see a deeper pullback to 1590. 1590 is in a perfect confluence with L4 camarilla and 88.6 fib. In the case of a deeper pullback 1590 could could be a spot for a long trade towards 1620 and 1670. The analysis should cover pre FOMC movement.
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Tarantula

Member
EURUSD has reached 2570 PRE FOMC (16th DEC) and the market was clearly waiting for the development of PA after FOMC. The price has made a new top at 2570. The next rally came from 2385 to 2470 and it failed. That makes those 2 levels very important in he future. 2470 and 2570- rounded out.

New possibility for shorts might come around 2360 and 2390. For position trades i am always suggesting stronger pullback to POC. We have potentially 2 important levels. 2360 and 2390 if we get the pullback to. 2360 is the shallow retracement to 23.6 and previous sellers confluence and it can be used for scalp swings. Better confluence comes at 2395 region, where multitude of resistance lies. Inner trend line, outer trendline ,H3, DPP, 38.2. 2395 region could be used for intraday/week positioning towards 2300 and 2260/45 subsequently.
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Tarantula

Member
GBPUSD has broken through important support 5540 and its targeting 5450-30 as a weekly target. POC zone is previous support (ex buyers) now resistance, 50.0 fib, inner trend line and it stands around 1.5540-50 level. We can also see descending trendline and L3 level so the zone is good for selling towards 5450 weekly support.
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Tarantula

Member
As we could see EURUSD tanked heavily and during the weekend the gap extended to 1.1850. This suggest 2 things. EURUSD positions have been over stretched to short side and dangerously threaten to break 1.1875. Greek elections will be held on 25th of January and until then there might be also Sell into rallies. Now from this technical perspective we can see that upside is heavily limited to 1.2570 on Monthly chart. Technical Inner Trend line is thrusting December Monthly candle and any rallies are limited in its nature. Heavy break of 1.1875 will see 1.1750 and 1.1675. EURUSD has formed a running descending flat bottom triangle on Monthly chart. Now the question is from intraday perspective where could we possibly sell it.

1.2000 is a good place for a new sell with tight stops. For deeper retracement 1.2250 is a good spot to sell, but that upside seems heavily limited now. Due to over stretched shorts and Greek Elections coming soon we might see some choppy action on this pair.

From counter trend perspective 1.1875-1.1850 is the place to look for possible longs.
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Tarantula

Member
NZDUSD point of confluence zone comes at 7745-7765 and if 7800 stands strong we should see a drop to 7670-40. Inner trend line , H4, 61,8 fib and historical sellers in the region make POC. After a big drop comes a big correction so I assume that NZDUSD is still in technical downtrend.
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Tarantula

Member
Today FOMC meeting minutes may give some counter trend opportunities on EURUSD. My opinion is that possible QE measures and possible Grexit are strongly priced in so less then expected hawkish statement on FOMC will give some relief to EU currency pair. Also we must not forget that strong depreciation of EUR currency pair is actually good for exporters (!) so what can happen is that the decision on QE will be postponed. Anyway 1800-1810 zone is a support also on equidistant channel and L4 camarilla so it does give potential chance for counter trend setups to 1.2000. As you can see on the chart its pretty much aligned with the price channel/retail gap and 1.2000 H5.

In that case 1.1770 is a level which must hold.
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Tarantula

Member
+50 pips after the setup on EURUSD.

USDJPY 119.55 and 119.20 region could give us bounces and long setups. 119.55 is the first level to watch for as it is a confluence of H3,23.6 and Inner trendline and because of H3 level retest I expect 119.55 to provide bounces/ scalp swings in first few touches towards 120.30. In the case of further drop 119.20 region is the POC with stops at 118.70 just below L4 towards 120.30 target.
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Said77777

New member
+50 pips after the setup on EURUSD.

USDJPY 119.55 and 119.20 region could give us bounces and long setups. 119.55 is the first level to watch for as it is a confluence of H3,23.6 and Inner trendline and because of H3 level retest I expect 119.55 to provide bounces/ scalp swings in first few touches towards 120.30. In the case of further drop 119.20 region is the POC with stops at 118.70 just below L4 towards 120.30 target.
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Tarantula, share indicators. Thanks.
 

analizatorfx

New member
Today FOMC meeting minutes may give some counter trend opportunities on EURUSD. My opinion is that possible QE measures and possible Grexit are strongly priced in so less then expected hawkish statement on FOMC will give some relief to EU currency pair. Also we must not forget that strong depreciation of EUR currency pair is actually good for exporters (!) so what can happen is that the decision on QE will be postponed. Anyway 1800-1810 zone is a support also on equidistant channel and L4 camarilla so it does give potential chance for counter trend setups to 1.2000. As you can see on the chart its pretty much aligned with the price channel/retail gap and 1.2000 H5.

In that case 1.1770 is a level which must hold.
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First of all thanks for nice thread. You doing a really great work, Tarantula.

So, was FOMC dovish? Looks like we got already strong correction in progress, no?
 

Tarantula

Member
Thanks for comments. The thing is i expect a stronger correction on 22nd January if mr.Draghi doesnt announce QE. At the moment, the scope for EURUSD deeper correction is very limited.
 

Tarantula

Member
1.8135-1.8150 is the region where we might see a bounce on AUDUSD pair. AUDUSD has turned bullish intraday and we can see W 1 2 3 bullish test in place coupled with intraweek and intraday fibonacci support retests. Historical buyers also appear at the region. Possible target is 1.8200- 1.8215 which corresponds to multiple camarilla and fibonacci confluence.
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Tarantula

Member
After a huge sell off in copper during Asia saession, commodity currencies suffered a lot. AUDUSD has breoken to the lower side of the triangle and made a new low. 8140-8150 is the zone for possible shorts targeting 8030 region. We can clearly see POC at the shorting zone but we need to assume ( due to a big range ) that stops should be put around 8195. Dead stop is 8210 for the move.
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Tarantula

Member
EURJPY is in a retracement and 136.20 is the first POC where we could start searching for a short trades. In the that price spikes above POC , second POC comes at 137.10-20. Target for the move is 134.70 and 134.15.
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freddieforex

Active member
Banned Users
Tarantula, you need to read post , a request for your trading system my friend.
 

Tarantula

Member
Tarantula, you need to read post , a request for your trading system my friend.
The method is not mechanical, it cant be written in PDF, its the complete course and its not free. I dont advertise it here, sell it here or whatever. If you are OK with the analysis/setups no problem, if not, I will stop posting. Its up to you.
 

Tarantula

Member
Spider's Den - WWi Edition

This thread is dedicated to 25 different pairs analysis and trading. By reading the thread you will get understanding of Price Action and CAMMACD ™ trading.
 

fahimeng

New member
Hi Tarantula,
I appreciate your kind of analysing the forex market. I am happy to see that you are going on posting. I learned a lot of pullbacks and retracements. Thank you for sharing your experience.

ray
 

Tarantula

Member
Hi Tarantula,
I appreciate your kind of analysing the forex market. I am happy to see that you are going on posting. I learned a lot of pullbacks and retracements. Thank you for sharing your experience.

ray
Thanks. Will continue posting and sharing the setups and analysis. If something is unclear feel free to ask.
 

Tarantula

Member
EURUSD is currently in retracement rejection from 1.1100 zone. 1.1270 zone could be good for short term trades but bear in mind that 1.1200 is now interim support. So to further go down 1.1200 should break, but intraday momentum is still high to the upside. That leaves a potential for 1320-1330 (next zone for short trades) in the case 1280 breaks. 1.1035 should be the target then but ATR is big on EURUSD ( caused by fundamental shifts ) so pay attention to 1200 and 1150 in the case of rejections from POC zones.

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Tarantula

Member
EURUSD has formed a bullish daily pattern and broke through 1400 and in the context of intraday trading we can assume intraday is bullish. 1300-1325 is a POC confluence zone. If the price gives us a proper pullback we could start searching for long opportunities. Target for the move is 1465- bottom of the flat bottom triangle and resistance and if it breaks 1490. Longs are invalidated below 1252.
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Tarantula

Member
NZDUSD has confirmed the downtrend on dovish RBNZ statement and we can see that there is a huge drop in pair. POC1 stands around 7350 and it is a zone where we could start searching for short opportunities towards 7270. In the case of greater pullback 7410-7430 zone is providing another opportunity to go short towards 7270. In the case 7270 breaks to the downside we can try to trade one of 3 possible breakout setups ( TH,BR,BPC) towards 7220.
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