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$ Millionaire Traders Golden Price Mining

  • #461
  • Apr 25, 2016 1:59am Apr 25, 2016 1:59am
Quoting Quinton
{quote} Keeping my target for short entry slightly higher to account for the lows in that Feb/March range. I would like to see that rising wedge take a bit more form before deciding on entry. Either way, not sure it will happen this week anyway. Q {image}
Was getting filled to the pip almost with small position. Has locked in a small profit and let it run for now.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH4.png Size: 58 KB
Trading in the shadow of SM
  • #462
  • Apr 25, 2016 2:14am Apr 25, 2016 2:14am
Quoting Hpt
{quote} GBPNZD saw a level , had a setup , took a limit order sell But it was friday afteroon , so I reduced my normal lotsize to a 1/4 in this case. with SL ( 20p) and trailing stop. this trade was light in proportion to my accountsize, so I slept well. My setup wasn`t good enough, have a loss, have to accept it. But if you see where price is now, thats trading HPT
GBPJPY

I was looking the gbpnzd after open but had to high spread to get in to position.

I try to take away SL friday afternoon for trades open at close . Brokers will often fill your SL at the worst possible price ( gap + spread ) .

For gbpjpy I had ok spread and was getting in with position that is locked in to profit.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 62 KB
Trading in the shadow of SM
  • #463
  • Apr 25, 2016 2:26am Apr 25, 2016 2:26am
Quoting Quinton
{quote} Good level but not all that surprised that it got cut on Friday (previous touch + higher low PA action). Slightly higher up, the golden level around 89.00 has been we'll respected by several lows (and a few highs). Daily 200 MAs and TL are setting up to confluence with this level. As mentioned, medium-term PA could be better, and I would not hold a short all that long because of it. We'll see what the open brings. Q {image}
its gone through it yes, but I've not given up yet on it, also have not seen any PA suggesting the bears might want to close the month under it, wait and see mode for now...and yes the 89.25/50 area looks more significant...
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYMonthly.png Size: 60 KB
Look Sharp/Trade Tight
  • #464
  • Apr 25, 2016 2:30am Apr 25, 2016 2:30am
also will keeping an eye on 163.30ish in GBPJPY...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYMonthly.png Size: 48 KB
Look Sharp/Trade Tight
  • #465
  • Apr 25, 2016 3:28am Apr 25, 2016 3:28am
Quoting PayTheLimit
also will keeping an eye on 163.30ish in GBPJPY... {image}
Do you look after any confluence at the level or just the structure on monthly?
Trading in the shadow of SM
  • #466
  • Apr 25, 2016 4:07am Apr 25, 2016 4:07am
GBPNZD

Level to put on watchlist. I will not put pending there but will go down to lower TF and see what price do and if I get an nice opportunity for long. Also depends when price come down and the confluence with MA 50 that is on my chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDH4.png Size: 60 KB
Trading in the shadow of SM
  • #467
  • Apr 25, 2016 5:21am Apr 25, 2016 5:21am
Quoting Earleone
{quote} Was getting filled to the pip almost with small position. Has locked in a small profit and let it run for now. {image}
Some conflu. coming up on that short that might make for a good exit signal.

Attached Image (click to enlarge)
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  • #468
  • Apr 25, 2016 5:37am Apr 25, 2016 5:37am
Quoting Quinton
{quote} Some conflu. coming up on that short that might make for a good exit signal. {image}
Yes it is good area looking for longs again. I have locked in 23 pips giving me an RR better then 1:1 ( My initial SL was 20 pips) . Trade is floating around 50 pips in profit currently.
Trading in the shadow of SM
  • #469
  • Apr 25, 2016 6:06am Apr 25, 2016 6:06am
Quoting Earleone
{quote} Do you look after any confluence at the level or just the structure on monthly?
in these instances, just the structure on the monthly, and I use daily PA for entries...
Look Sharp/Trade Tight
  • #470
  • Apr 25, 2016 8:03am Apr 25, 2016 8:03am
EURUSD

Fib ext 123.6 127.2 area from leg low March 2015 respected. If I go back and see on attached chart it is respected several times before. An good hidden level so not obvious and for that reason not the best mining area but worth to pay attention to and see what price do in this area.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 50 KB
Trading in the shadow of SM
  • #471
  • Apr 25, 2016 10:02am Apr 25, 2016 10:02am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
USDJPY

here is an example for "golden level" (this one is only golden in low tf) scalping in M5.
Nothing else as level and fib exp.
TP hit

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5.png Size: 25 KB


HPT
from level to level - you need mental strength to reach the summit
  • #472
  • Apr 25, 2016 11:11am Apr 25, 2016 11:11am
Quoting Earleone
EURUSD Fib ext 123.6 127.2 area from leg low March 2015 respected. If I go back and see on attached chart it is respected several times before. An good hidden level so not obvious and for that reason not the best mining area but worth to pay attention to and see what price do in this area. {image}

Actually, I posted these a few weeks ago, however price decided to turn at a higher level around April 14. Now they came back into play and were well respected. Hard to position though due to the weekend break.

Attached Image (click to enlarge)
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  • #473
  • Apr 25, 2016 11:31am Apr 25, 2016 11:31am
Quoting Quinton
{quote} Actually, I posted these a few weeks ago, however price decided to turn at a higher level around April 14. Now they came back into play and were well respected. Hard to position though due to the weekend break. {image}
I found and possible from that posts I had it on my chart.

Difficult to find since there is not any search function within threads here at Forexfactory. But if we click the attachment clip at top of page each image attachment is showing. So if all posters take care to name the attachment with the instrument it can be easier to find again later.
Trading in the shadow of SM
  • #474
  • Apr 25, 2016 11:54am Apr 25, 2016 11:54am
USDCAD

It is not in overbought area and will probably not be if it visit within a day or two but are currently also fib 38.2 last leg. An level to put on watchlist for price action on lower TF the coming days. And also notice that price already has bounced of twice. Can be good for longs to at retracement if strongly broken.
Attached Image (click to enlarge)
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Trading in the shadow of SM
  • #475
  • Apr 25, 2016 12:05pm Apr 25, 2016 12:05pm
Quoting PayTheLimit
{quote} its gone through it yes, but I've not given up yet on it, also have not seen any PA suggesting the bears might want to close the month under it, wait and see mode for now...and yes the 89.25/50 area looks more significant... {image}

To go along with those monthly candles here a possible long candidates from within the reversal cup. Both have .50 fib confl. from different highs.

Q

Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYH4.png Size: 66 KB
  • #476
  • Apr 25, 2016 1:09pm Apr 25, 2016 1:09pm
Quoting sajidkust
{quote} Sir, very junior to you but I am expecting a motion like this. There is a big Untested Resistance on daily waiting for GBPJPY and consolidations forming accordingly that we may have a good bullish motion finally. {image}
Sir, this was also said a week ago. The GBPJPY exactly followed the same ladder.
Forex; the game of movements not the game of candles.
  • #477
  • Apr 25, 2016 2:20pm Apr 25, 2016 2:20pm
GBPNZD

Been mining a little bit. 2.15 / 2.1550 level is worth putting in to observation to see what price do when&if it reaches this level. Round number too.
Attached Image (click to enlarge)
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Trading in the shadow of SM
  • #478
  • Apr 25, 2016 5:30pm Apr 25, 2016 5:30pm
Quoting Earleone
GBPNZD Been mining a little bit. 2.15 / 2.1550 level is worth putting in to observation to see what price do when&if it reaches this level. Round number too. {image}
GBP/NZD

Yes, if price makes its way there without retracing all too much that level will be of interest as it was for the short trend trade from mid-March.
Also good mining, Earleone on that 2.0811 - 2.0821 level. All I have to add it potential 200 MA confl.

Q

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDH1.png Size: 69 KB
  • #479
  • Apr 25, 2016 5:35pm Apr 25, 2016 5:35pm
Quoting Earleone
USDCAD It is not in overbought area and will probably not be if it visit within a day or two but are currently also fib 38.2 last leg. An level to put on watchlist for price action on lower TF the coming days. And also notice that price already has bounced of twice. Can be good for longs to at retracement if strongly broken. {image}
USD/CAD

I was holding out for an entry @ 1.2779. The reasons were obvious due to H1 200 MAs and the strong level. However, strong short momentum had made positioning short trend trades on retracements tricky, as they tend to be short lived.


Attached Image (click to enlarge)
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  • #480
  • Apr 25, 2016 6:39pm Apr 25, 2016 6:39pm
Quoting PayTheLimit
also will keeping an eye on 163.30ish in GBPJPY... {image}

GBP/JPY

To add the short-term view:

There are two major price knots forming a level at @ 164.79. The lower knot has already come into play in March and April and so is a bit used but I am drawing for reference. If price makes its way to the higher level sooner and later this week we might be looking at some nice overbough PA, which considering the way this pair moves is more than conceivable.

Q

Attached Image (click to enlarge)
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