$ Millionaire Traders Golden Price Mining

Quoting Quinton

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AUD/USD Further easing may be planned by the RBA and the news of this caused the AUD to plunge yet again. Price is now drifting short after this drop as buyer try to make up for having missed the initial volatility and therefore sell late in order to make up for this. The drifting PA is only noticeable on the lower TFs and I would wait for it to become visible on at least M30 before initiating a long. There following chart illustrates two possible golden level candidates. The first has .50 fib confl. drawn from significant highs and lows while the...

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Quoting Quinton

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{quote} Because it is only formed only by some of the highs of the range. Also it also wasn't respected from both the long and short side (unlike he 1.4400 level which has a lot of tight ranges forming it). The fact that is little "strong" confluence and price coming down hard from the high have me set my sights on the first level you pointed out @ 1.4400. Although for the time being price is respecting the highs. Also overall PA is choppy which is very likely due to a lot of indecision on the part of traders as they jump from short-term rumor to...

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Quoting Quinton

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{quote} {image}

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Quoting Hpt

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GBPAUD RN has confl. with fib, also 1.9273 - 1.9278 has confl with R38 pivot {image} trade well

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Quoting factlover

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{quote} GBPUSD: Thanks for your observation. It still respects the level at 1.4460, I expect NFP news today will move it up or down from here. Not sure I understand about USD/CHF comparison as it looks even more volatile than GU pair for the last month. For ex. USDCHF is in the widening range from the end of March and the last drop down was about 350pips vs. about 320 pips for the last drop of GBPUSD.

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Quote

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Did you try to use some measurable volume data for golden level selection? Like volume and open interest for corresponding currency futures at the particular level? I don't see any GL candidates at the last GBPUSD turning point at 1.4770. There was only some confluence with daily EMA200 at 1.4740 and upper border of up channel. The volume data could possibly help with defining that turning level, what do you think?

Quoting Earleone

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EURNOK Fib 38.2 / structure confluence. Nice candidate pair for carry trade. Norwegian National bank has stated that they buy appr USD 85 million in NOK every day also in May month. Important Non farm numbers today so will possible be strong movements. {image}

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Quoting Quinton

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{quote} I was referring to the tendency for USD/CHF to respect several primary and secondary golden levels over the last month or so. Just recently at the open .9731 got hit nicely. GBP/USD has mostly been stuck in the nasty range and attempting to call the turns has been tricky, which is why I avoided during so. {quote} One might be able to refine the golden levels further with such an approach. However, this would have to be tested and researched. I mostly trade from levels what have been tested from both the long and the short side at multiple...

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Quoting Quinton

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{quote} Getting exotic are we? Brokers don't seem to be paying much for those carries these days. Those days seems to be over for good in today's ZIRP/NIRP world (except for ZAR/USD). Q

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Quoting factlover

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{quote} GBPUSD: yes I saw those lows in Mar 2015 but there was no testing from resistance side and now this level at 1.4750 is more defined so we may expect some reaction on the way up. I added a GL line for it on my chart. Right now it's at that median level around 1.4400 which we discussed last week. It certainly respects it and even builds engulfing candle on H4 - not finished yet. So turning here may still be in the cards {image}

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Quoting carlostedo

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Hi guys! This is my setup for EURJPY. {image} green pips Carlostedo

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Quoting factlover

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{quote} GBPUSD: yes I saw those lows in Mar 2015 but there was no testing from resistance side and now this level at 1.4750 is more defined so we may expect some reaction on the way up. I added a GL line for it on my chart. Right now it's at that median level around 1.4400 which we discussed last week. It certainly respects it and even builds engulfing candle on H4 - not finished yet. So turning here may still be in the cards {image}

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Quoting Earleone

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{quote} You forgot about RUB, TRY and MXN . Nice exotics with high interest rate.

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Quoting Hpt

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GBPAUD RN has confl. with fib, also 1.9273 - 1.9278 has confl with R38 pivot {image} trade well

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Quoting Quinton

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{quote} I have dug up several other levels on this pair since price is heading toward a long-term range which gives us many potential levels to trade from but also a lot of ambiguity. The drift therefore has to be well extended and formed to take a long. PA is the main factor here. {image}

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Quoting carlostedo

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Hi guys! This is my setup for EURJPY. {image} green pips Carlostedo

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Quoting jvmv4

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​USDJPY near interesting levels above we have 61 retrace at 109.46 100 extension the same level as 61 and 161 extension at 109.61 with 200 MA"s should see a reaction hear lets see how we go still got 64 up to these levels {image}

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