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$ Millionaire Traders Golden Price Mining
- #402
- Apr 21, 2016 11:00am Apr 21, 2016 11:00am
{quote} EURGBP: .7845-.7860 area maybe the new range low. It's at weekly Fib-50 and daily EMA-50 coming for support. On H1 level .7845 looks like a gold candidate {image} {image}
EUR/GBP
The original golden level I posted was around .7870. As I mentioned, having PA range right in front of the level makes it less golden in most cases. The level I posted was good for a 20 pip pop, but the overall trend should be able to offer more. It's tough when you have a golden level right below .50 fib and 200 MAs, rather than confluencing directly it. This means that if price breaks the fib and the MAs, and initially respects, the golden level, it is possible for price to ping pong back and forth like it is doing now, ranging between these two zones.
.7845 is not a bad level. But consider the .7830 - .7837 level right below it, defined by a few short-term highs within the range and the recent cup itself.
61.8 is also confluencing with it.
Q
- #403
- Apr 21, 2016 2:04pm Apr 21, 2016 2:04pm
- Joined Mar 2014 | Status: swimming with floaters and snorkels | 1,157 Posts
{quote} Golden level hit but PA is too aggressively short so will half position. {image}
- #404
- Apr 21, 2016 3:17pm Apr 21, 2016 3:17pm
- Joined Sep 2013 | Status: OTM AI IntelliWave™ Trader | 1,107 Posts
{quote} Love when levels get hit almost to the pip. {image}
. New opportunity for short now at fib 38.2 level last leg 4H . Nice confluence with triple bottom from April .
Trading in the shadow of SM
- #405
- Apr 21, 2016 3:27pm Apr 21, 2016 3:27pm
- Joined Sep 2013 | Status: OTM AI IntelliWave™ Trader | 1,107 Posts
Trading in the shadow of SM
- #406
- Edited 4:24pm Apr 21, 2016 3:53pm | Edited 4:24pm
GBPAUD
confl. factors, weekly. pivot , and 38.2 is monthl. long term exp.
sorry had a mistake , edit
HPT
confl. factors, weekly. pivot , and 38.2 is monthl. long term exp.
sorry had a mistake , edit
HPT
from level to level - you need mental strength to reach the summit
- #407
- Apr 21, 2016 7:42pm Apr 21, 2016 7:42pm
AUD/USD More entries on possible pullbacks to .7732 and .7713. We'll see if the exponential 200 MA catches up to the higher level and acts as an additional confluencing factor to to fib .50. {image}
An absolute beauty of a bounce.
- #408
- Apr 21, 2016 8:37pm Apr 21, 2016 8:37pm
{quote} Indeed bearish action, now looking at H4 ma's confluence at marked levels, hope this isn't too ambitious
The 200 MAs could support either your higher zone or my level, depending on how quickly price makes it down (if it does).
Q
- #409
- Apr 22, 2016 1:33am Apr 22, 2016 1:33am
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #410
- Apr 22, 2016 1:34am Apr 22, 2016 1:34am
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #411
- Apr 22, 2016 1:35am Apr 22, 2016 1:35am
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #412
- Apr 22, 2016 1:37am Apr 22, 2016 1:37am
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #413
- Edited 2:03am Apr 22, 2016 1:52am | Edited 2:03am
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #414
- Edited 3:25am Apr 22, 2016 3:09am | Edited 3:25am
GBPJPY
traders what do you think about this level ?
or better this one
with the first one I had a good scalp
HPT
traders what do you think about this level ?
or better this one
with the first one I had a good scalp
HPT
from level to level - you need mental strength to reach the summit
- #415
- Apr 22, 2016 3:31am Apr 22, 2016 3:31am
- Joined Sep 2013 | Status: OTM AI IntelliWave™ Trader | 1,107 Posts
GBPJPY traders what do you think about this level ? {image} HPT
I am in this trade with half position with wide SL . A little bit worried about correlation to USDJPY that still has 50 to 60 pips to go up before that comes to level where I will look for PA for shorts.
Trading in the shadow of SM
- #416
- Apr 22, 2016 3:34am Apr 22, 2016 3:34am
- Joined Aug 2013 | Status: Trader | 4,894 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #418
- Apr 22, 2016 3:37am Apr 22, 2016 3:37am
{quote}
short the lows
from level to level - you need mental strength to reach the summit
- #419
- Edited 4:21am Apr 22, 2016 3:45am | Edited 4:21am
- Joined Mar 2014 | Status: swimming with floaters and snorkels | 1,157 Posts
{quote} Overall I agree with the zone. The direction is obviously up. But it is not pure trending action we are dealing with here. Those retracements are so deep that the long-term PA could be described as a mix of trending and ranging. So I will add the more conservative level here: long @ .6818 + .50 fib The 200 MAs could support either your higher zone or my level, depending on how quickly price makes it down (if it does). Q {image}
I did try this fibo but then thought it was in the middle of a range, although it seemed right to me lol this is the way we learn
Best,
C
edit: building longs from here, currently at 0.6886
