DislikedValuable swing trading approach Quniton which can (with patience) lead to high RR. I will follow and share golden levels I find. Thanks for sharing. KhalilIgnored
Thanks Khalil and welcome.
Indeed an apt description of the method.
Q
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Disliked{quote} Thank you Quinton for responding, this time I tried on H4. I have doubts on the dotted levels, they seem too much and that is what I meant about excessive I may be missing other important levels, would very much appreciate your comment, thanks {image} edit: attached MT4 template {file}Ignored
Disliked{quote} Excellent thread Quinton . Follow with interest . I did a study at your chart @Karpa for nzdusd And what I found is that the levels you identify up at 0.7200 area has also fib 61.8 and 38.2 from 2 different measurments of legs that I show in attached charts.Ignored
Disliked{quote} Have a look at what was going on before we entered the current range on GBP/USD and compare this environment with the one we are in right now. In the beginning of March price ran up again against two golden levels and each level resulted in up to 100 pip trades. These are good examples of golden levels as they caused price to reverse despite the strong trend. Since price was still in trend mode, it did a fresh touch of both levels before starting to chop through them, resulting in the unfavorable environment we are facing now on GBP/USD....Ignored
Disliked{quote} Welcome Earleone, And very well done. Both fibs you highlighted add confluence and therefore confidence to that golden level. QIgnored
Disliked{quote} Thank you Quinton . Also Eur/Jpy there is some level in attached charts that I have added to my watchlist. Fib ext 138.2 from the last structure. ( TP target) that is in confluence with fib retracement 38.2 and structure December. {image} {image}Ignored
Disliked{quote} factlover, Just to add to my previous response. Have a look at what was going on before we entered the current range on GBP/USD and compare this environment with the one we are in right now. In the beginning of March price ran up again against two golden levels and each level resulted in up to 100 pip trades. These are good examples of golden levels as they caused price to reverse despite the strong trend. Since price was still in trend mode, it did a fresh touch of both levels before starting to chop through them, resulting in the unfavorable...Ignored
Disliked{quote} EUR/JPY There is a ton of confluence one that level. But the true golden level is to be found about 40 pips higher at 130.15 (this level essentially includes 130.00). I highlighted the ranges to show why. The major low on Jan 23 and the March/April range (not shown in chart) also help define this level, making it even more important. One strategy would be to split trade size among the two levels and/or scale into the trade. {image}Ignored
DislikedUSDCHF Close to Fib 61.8 and structure from april 2015 level now. So this level I think is worth to watch. Level also was acting as resistance and support in 2014 {image}Ignored