$ Millionaire Traders Golden Price Mining
NZD/JPY Interesting picture on this pair with price set between two golden level formed by tight ranges. Both H4 200 MAs are looking to turn from resistance to support as they cut right past the highs of the lower range. PA a bit bearish with that recent bearish exhaustion candle, so would need to monitor short-term PA before considering a long position. For a short, the upper level has 61.8 fib and possible TL confl. (if price takes its time getting to the upper golden level). {image}
EURGBP 0.77565 confluence with Fib 50 and possible MA200 on 4H looks like it can be an interesting Golden level . My different colors for MA for the SMA and EMA is the following Blue is MA 50 Red is MA 100 Gold is MA 200 {image}
{quote} {quote} I see the current area as a possible reverse zone too. It bounced not from Fib-61.8 and both H4 MA 200 at 1.4485 (still it looks like these are respected) but from daily EMA 50, H4 TL and Murrey 5/8 at 1.4465. I wouldn't go long until I see it's hold above 1.4515-25 area. {image}
{quote} I also see a S/R line at .4465 that it keeps respecting from both directions
It's an absolute goldmine (pun intended) of helpful tips that a novice trader like myself needs to get up and running.
EDIT: feel free to ignore the notes on my chart. A traumatic brain injury several years ago left me with memory problems so I need to write down any thoughts in my head or they disappear.
Looking good, my friend.
{quote} GBPUSD: I think we can add yearly and monthly pivots to GL confluence check list. For ex. last week and yesterday GU pair couldn't break 2015 year close level at 1.4733 and it bounced yesterday from 1.4565 which is 2015 low. EURUSD: it respects again 2015 yearly pivot at 1.1130, it bounced at daily MA-200 and Murrey 3/8 on Monday. TL and Fib-61.8 are here too. With new month started it may be a good GL to go long from here? {image}
{quote} Right on. That was the level truest to the golden level definition. Add to that factlover's TL and you had enough technical support for a nice bounce (perhaps even more).
{quote} @factlover you may be on to something. On the EUR/USD I was just hunting for some historical S/R lines and realized that to find them I had to go all the way back to... 2003. Now correct me if I'm wrong, but should we consider the fact that the EUR/USD is at a 13 year low to be a good indication that we have nowhere to go but up? {image}
EURGBP H4 confl with upper fork , MA 100 , Fib. may be RWL/RDL is good entry short ?? {image} HPT
