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$ Millionaire Traders Golden Price Mining

  • #21
  • Mar 30, 2016 1:25am Mar 30, 2016 1:25am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
UJ daily

my view USDJPY yellow levels have confl. with fib, show 2 charts to see the confl

Attached Image (click to enlarge)
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HPT
from level to level - you need mental strength to reach the summit
  • #22
  • Mar 30, 2016 4:30am Mar 30, 2016 4:30am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
UJ H1

here you can see the power of levels and tl , the red upper level was clearly the better entry, but the yellow one with fib confl
gives also a nice risk reward

Attached Image (click to enlarge)
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HPT
from level to level - you need mental strength to reach the summit
  • #23
  • Mar 30, 2016 5:41am Mar 30, 2016 5:41am
Hi everyone!
This is my view of USDJPY. I think that the price is in a support level on daily timeframe. I see that HPT haven't that level on his chart, any reason sir? What do you think guys?
Attached Image (click to enlarge)
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  • #24
  • Mar 30, 2016 7:33am Mar 30, 2016 7:33am
Quoting piupiu
Good trades to all. {image}

That's the spirit!
  • #25
  • Mar 30, 2016 7:42am Mar 30, 2016 7:42am
NZD/JPY

Short @ 78.13 - 78.30
Significant price exhaustion on this pair + approaching level formed from that tight range back in Jan/Feb. Price going a bit parabolic so the last price leg can get very steep. Keep those golden levels golden!

Attached Image (click to enlarge)
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The H4 also reveal that the .50 fib confluences perfectly with the deeply set golden level at around 78.30.

Attached Image (click to enlarge)
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  • #26
  • Mar 30, 2016 7:57am Mar 30, 2016 7:57am
Quoting kart
Quinton it's a pleasure to learn from a Trader with 10+ year experience. I appreciate your generosity. I usually dont have too much time for trading, do u think that I can still do well if I monitor charts 30 minutes to 1 hour a Day? If I commit to only trade the best setups, what average success rate do u think that I could have? Risk to reward ratio seems great too, I just dont know exactly at what distance from the high\ low of the level you put the limit order, do u use for example any fixed number of pips away from the level to trigger the...

Good questions and welcome.

Most of the work will be done ahead of time. Many of the levels I discover come into play weeks or months after I draw them on the chart. Many of the significant levels can be mined for over the weekend when the markets are closed.

The good news is that you do not have to take all setups. If you only take the best 1-2 per week that is more than enough. It is hard to tell exactly what your win % would be as this does vary from trader to trader but if you are selective it will be high enough that you can take profit more quickly without worrying whether you are on the side of profitability. A mistake traders make is trying to squeeze more profit out of a trade than is necessary. Many times this will result in a profitable trade turning into a loser as the trader holds the trade for too long, hoping for more. This is one reason why demo trading is so important as it allow you to learn your win %. With this knowledge you can then easily determine the R:R you need. It gives you so much more confidence in your trading, esp. when you have to decide when to take profit.

On the topic of entry, I might get into a trade earlier if I believe that the market might turn earlier, but then I must increase my stops to include the range that the golden levels cover, which means reduced trading size.

Hope this helps.

Q
  • #27
  • Mar 30, 2016 8:13am Mar 30, 2016 8:13am
NZD/USD

One of you posted some really good golden levels for this pair but then took them down. Anyway, here are the ones that will come into play in the near future if price continues to move up.

Attached Image (click to enlarge)
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Weekly is showing that one of the MAs is starting to confluence with the better priced golden level. This setup probably won't come into play until next week, but something to monitor. These weekly confluence factors can be determined ahead of time since they are slower moving and don't change as quickly as the technicals ont the lower TFs.

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  • #28
  • Mar 30, 2016 8:21am Mar 30, 2016 8:21am
Q,
How long have you been trading this Golden Level? Do you refine your entries with price structure/action in smaller TF?
Thanks
  • #29
  • Mar 30, 2016 8:27am Mar 30, 2016 8:27am
​Quinton: you say you use the 200 day sma and ema for confluence, and you're showing a 4hr chart. So I think you mean 200 period ma, because a 200 ma daily on a 4hr chart is 1200 periods.
Enter Signature
  • #30
  • Mar 30, 2016 8:41am Mar 30, 2016 8:41am
Quoting teleblue
​Quinton: you say you use the 200 day sma and ema for confluence, and you're showing a 4hr chart. So I think you mean 200 period ma, because a 200 ma daily on a 4hr chart is 1200 periods.
Hi teleblue,
You are correct and thank you.
Q
  • #31
  • Mar 30, 2016 8:52am Mar 30, 2016 8:52am
Quoting BillGates
Q, How long have you been trading this Golden Level? Do you refine your entries with price structure/action in smaller TF? Thanks
I started applying the principle back in 2008. Back then volatility was very high and I saw how the best levels were able to stop even volatile price in its tracks.
As for shorter TFs, I will pay attention to them if I plan on taking profit quickly. In those cases I am usually dealing with a highly volatile pair like GBP/JPY or EUR/AUD and expect to get the same amount of pips on the M% that I would usually get on the H1 on EUR/USD for example. Short-term trades sometimes require short-term TFs. I might also already be in a trade and not like what the short-term PA is doing. This gives me a signal that it might be better to exit for a small loss or BE. I tend to stay dynamic with TFs in terms of switching between them. Each can reveal a bit of info that the other one cannot. But it is not always necessary to do so.

Q
  • #32
  • Mar 30, 2016 9:32am Mar 30, 2016 9:32am
Quinton, really thanks for sharing your experience with us! Keep the good work.

Waiting for your post about your tools and EA's.......... wishing that finally i will find tools and EA's that help us trading instead of doing the work for us, i wish see some of them here
  • #33
  • Mar 30, 2016 10:35am Mar 30, 2016 10:35am
Quoting Quinton
NZD/JPY Short @ 78.13 - 78.30 Significant price exhaustion on this pair + approaching level formed from that tight range back in Jan/Feb. Price going a bit parabolic so the last price leg can get very steep. Keep those golden levels golden! {image} The H4 also reveal that the .50 fib confluences perfectly with the deeply set golden level at around 78.30. {image}

Touched to the pip on one of our golden levels. Trade only the best levels when price is overbought and you will be rewarded.

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  • #34
  • Mar 30, 2016 11:40am Mar 30, 2016 11:40am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting carlostedo
Hi everyone! This is my view of USDJPY. I think that the price is in a support level on daily timeframe. I see that HPT haven't that level on his chart, any reason sir? What do you think guys? {image}
Hi carlostedo,

Overall USD is weak for me, we saw a big downmove in this pair in Jan/Feb, now this is a big ranging market.
So I prefer upper or lower levels, for a good R:R ( In this case I´m in a short trade)
I the middle of a range what do you intend to do?
It`s better not to paint too much levels , make things quite clearly for me.

hope this helps

HPT
from level to level - you need mental strength to reach the summit
  • #35
  • Edited 1:30pm Mar 30, 2016 12:31pm | Edited 1:30pm
Quoting Quinton
NZD/USD One of you posted some really good golden levels for this pair but then took them down. Anyway, here are the ones that will come into play in the near future if price continues to move up. {image} Weekly is showing that one of the MAs is starting to confluence with the better priced golden level. This setup probably won't come into play until next week, but something to monitor. These weekly confluence factors can be determined ahead of time since they are slower moving and don't change as quickly as the technicals ont the lower TFs. {image}...
Thank you Quinton for sharing your experience with us.
I did post the chart maybe I was too excited about yesterday's moves. Sorry I took it down, it seemed excessive.
Attached Image (click to enlarge)
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I took these levels from the line chart, they're easier to spot, but yours are candle charts. Is this important, I see the above N/J touched to the pip 78.13
  • #36
  • Mar 30, 2016 7:55pm Mar 30, 2016 7:55pm
Quoting MasterGuru
Talk is cheap... {image}
What do you say ?This threat is best .....
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  • #37
  • Mar 30, 2016 8:04pm Mar 30, 2016 8:04pm
boring
please don't turn this thread into a pissing war
totaly looking at the charts and advice though
  • #38
  • Mar 30, 2016 9:23pm Mar 30, 2016 9:23pm
Quoting Hpt
UJ daily my view USDJPY yellow levels have confl. with fib, show 2 charts to see the confl {image} {image} HPT

Hi Hpt,

I'm having trouble seeing those level @ 113.60 & 115.13 as golden. USD/JPY is in a tricky position right now. The next best levels to take shorts from are found beyond the current range. Those lows from Jan and Aug 2015 have to be considered but they are still a bit far away. Still there is not much else nearby.

However, this is a good opportunity to show how powerful those tight ranges are in getting price to reverse. Look at that tight range (let's call them nuggets to keep with the golden theme) in the golden box. It represents the tightest collection of highs and lows since late last year until now. And guess what... price has respected the level formed by the range at 114.35 - .52 three times, each time pulling back at least 100 pips. All it took what this price nugget. Of course, the level is showing its age now and another attempt at breaking it would probably be successful.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 60 KB
  • #39
  • Mar 30, 2016 9:32pm Mar 30, 2016 9:32pm
Quoting Karpa
{quote} Thank you Quinton for sharing your experience with us. I did post the chart maybe I was too excited about yesterday's moves. Sorry I took it down, it seemed excessive. {image} I took these levels from the line chart, they're easier to spot, but yours are candle charts. Is this important, I see the above N/J touched to the pip 78.13
Sure, your levels are from a higher TF than I usually use for mining, but there is some gold to be found on the weekly. It can get tricky though to draw them accurately as the TF gets higher. I find that H1 - daily is usually the most fruitful mining ground.

And yes, N/J respected 78.13 to the pip and has already moved 60 pips from that level. The power of gold.

Q
  • #40
  • Mar 30, 2016 9:41pm Mar 30, 2016 9:41pm
Quoting Manel9530
Quinton, really thanks for sharing your experience with us! Keep the good work. Waiting for your post about your tools and EA's.......... wishing that finally i will find tools and EA's that help us trading instead of doing the work for us, i wish see some of them here

That is exactly what they will do. I am going to refine them before releasing them, which could take a bit since I am currently doing 10k interval training (this sucks more than half my energy away these days). Wishing there were more than 24 hrs in a day.

Q
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