$ Millionaire Traders Golden Price Mining
{quote} Hi maximumguita, No problem. Technicals like fib retracements, MAs etc. become confluence factors then they overlap or coincide with our drawn level. They strengthen the levels from which we trade and in general we can expect a greater price reaction from a level with confluence. Q
{quote} GBP/USD reacting around those lower price nuggets. Trading back into the range is tricky as I mentioned.
AUD/USD If a determined move toward down to .7528 occurs (following the wave structure of this pair over the last month), leading to price becoming quickly oversold, expect a bounce up at this level. A good golden level to capitalize on that upward momentum taking place atm. At the moment no confluence factors that I can see. Watch out for AUD trade and rate news tomorrow. {image}
{quote} My picture for AUDUSD. Yesterday I added one more lower level in addition to the one taken from Quinton's chart. Took about 20pips from that up move, my stop was hit during Asian hours today. Just noticed an interesting point, I switched my H4 chart to M30 and noticed a nice supporting curve for current A/U move, it worked good in the past too. It's simple MA 1200, I have it on my H4 chart to see daily 200 MA on H4 - it's the dash-dot line on attached chart, so on M30 it shows daily MA 25. I added more common daily MA 21 for comparison -...
{quote} See my previous post. We are on the same page.
{quote} {quote} EURJPY too. What do you think about 125 level as a good point to bounce up for us? it's about Fib-50 of the last whole run from Mar 1. And it looks well defined as golden, what do you think, Quinton? I also see it might go up and down around central line of long channel from Jul-2015 or even Nov-2014. Lots of movements was around this central line in the past. {image} {image}
Hi guys! I want to share a good level on EURUSD but I want your opinion guys. My idea is wait until close the H1 bar and depend of that enter in a long or wait for a good short set up. What do you think guys? Edit: Level is 1.13417-1.13371 {image}
{quote} Hi factlover, It might be, but we would be fading the lows, not highs which is usually a better approach (again, following the trend pattern). However, the 61.8 fib does come into play here, so that might give it enough juice for a push up from there. By definition it is not golden (it is lacking sharpness and has not been formed by any highs), but that does not mean it isn't tradable. The level @ 1.4167 - 1.4183 + .50 fib on the other hand is a great scalping level as Friday showed. Nice find. We are in a range, so price never really gets...
Thanks Quinton, I only spotted this thread last night and like the way you trade. What sort of R did that cable trade yield for you?
{quote} The AUD/USD level is holding as expected. Entry could have been more accurate, as the market turned more specifically at a very nearby level that was tested sharply from the long and short side. Again, these are always stronger. Enough to earn some pips though. Q {image}
