Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Golden Zone Power Mining Indicator 131 replies

Do You Know Any Millionaire or Multimillionaire Forex Traders? 279 replies

Millionaire Run 3 replies

millionaire 3 replies

The quest to be a Millionaire 16 replies

Attachments: $ Millionaire Traders Golden Price Mining
Exit Attachments

$ Millionaire Traders Golden Price Mining

Quoting Quinton
{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
Ah okay, know i know what you mean, thank you
(.)(.) think first ...
Quoting factlover
{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}

It's an ok level, essentially 125.00. I do not like that PA had parked itself right in front of it without touching the area.

Q
Quoting Quinton
{quote} GBP/USD reacting around those lower price nuggets. Trading back into the range is tricky as I mentioned.

The difficulty of trading back into the range. All kinds of technical factors that stand in the way of price shooting up. Hard to manage. Still holding though with stop at BE.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 25 KB
Quoting alop
Hi Quinto, very educative thread! How do you define the trade direction on the golden level? Why do you draw two golden lines close to each other?

If the level is above the market price, we look to go short from it. If it is below, we look to go long. The two levels drawn close together define the price range within which we want to place our trade. For example we might enter at the one closest to the market price but still set out stop beyond the second one, since we might expect price to possibly overshoot this level by a few pips.

Q
Quoting Quinton
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}

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

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM30.png Size: 77 KB
Quoting factlover
{quote} I'm watching it to go long but I see it may go dipper looking into this sharp run down. Some guys draw Fibo between last highs too. On that scale we are already below Fib-50 of the run from Dec-2015 high to the last Mar-2016 high. So I'm waiting if it goes to .7500 round number which is close to that Fib-61.2 area {image}
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 - dash-line, it's MA 1008 for M30 scale.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD-M30-160406.png Size: 75 KB
Quoting factlover
{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 -...
See my previous post. We are on the same page.

Q
Quoting Quinton
{quote} See my previous post. We are on the same page. Q
yes, I have A/U in my list.
While JPY pairs are settling down I'm trying to learn how we could catch that move down from golden levels perspective.
You pointed N/J out before that move and it was taken - thanks! I see I had to check all other JPY pairs and watch if they move in sync.
What I see post factum EURJPY was at some good looking level for reverse and close to Fib-62, AUDJPY was at a very reversible level too, CADJPY turned down right at Fib-62 in a very bearish area. SGDJPY could be used as bearish indicator too - it reversed at a good looking golden level.
What is your experience with this approach, should related pairs be included into the checking list when we found a good level for one of them?
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
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 23 KB
Quoting carlostedo
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}
Yup, it's strong. I took a short from it in Feb. Still wouldn't mind having some confluence to support it.

Q
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
EU H4

looking for this level, confl with MA

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4 6.4.14.png Size: 46 KB


HPT
from level to level - you need mental strength to reach the summit
quinton
how about gbp/jpy
Q,
How can you tell a pair is overbought/oversold, is there any candlestick/price pattern? thanks
Quoting factlover
{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}

Although I was reticent to take a position due to the ranging PA, the level seems to be holding. Went up to 40 pips already. Of course, in these cases even if the level holds you have to be quick to take profit when you are trading back into that range. Right now price is heading back toward the level as the range provided ample resistance at least over the short-term.

Good job.

Q

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM5.png Size: 30 KB
Quoting carlostedo
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}

Your golden level is holding. This time with pin bar confirmation. I might add a description on the first post on when to use these to enter at a golden level.

Q

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 32 KB
Quoting Quinton
{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...
Now you'll see why I said that you are better off digging for golden levels outside of the range rather than within the current range:

Closed a long for 58 pips from the level I posted on April 3 @ 1.4013 - 1.4019. Look how strong the reaction from that level was. Price was much more oversold than at any point within the range. The golden level was crisply defined, and the trade initiated from it was easier to manage than trades initiated from levels inside that range that bump up against any number of technical resistance factors and generally do not yield much profit. Worth the wait.

Q

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 76 KB
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?
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
Quoting fisheggs
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?
Hi fisheggs and thanks!

It was a 1:3. Could have been more if I had tightened my stop, but my stance was conservative due to it technically being a counter trend trade and the overall downward momentum preceding the rise up. Looks like it's going higher though... the power of golden levels

Q
Quoting wealthpro
quinton how about gbp/jpy

I'll let the chart speak for itself.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 98 KB
Quoting Quinton
{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}
Look at Aussie go
Attached Image (click to enlarge)
Click to Enlarge Name: Aussie.png Size: 36 KB
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
0 traders viewing now