from level to level - you need mental strength to reach the summit
$ Millionaire Traders Golden Price Mining
- #903
- Jun 9, 2016 11:52am Jun 9, 2016 11:52am
EURCHF D1
I miss the lower level, reason was my MM didn`t allow me to open a additional trade, - had have enough opentrades.
Had to wait . So could only open a little late @ 1.08997 , but sl now @ BE.
Hope others get perfect entry
HPT
I miss the lower level, reason was my MM didn`t allow me to open a additional trade, - had have enough opentrades.
Had to wait . So could only open a little late @ 1.08997 , but sl now @ BE.
Hope others get perfect entry
HPT
from level to level - you need mental strength to reach the summit
- #904
- Jun 9, 2016 4:04pm Jun 9, 2016 4:04pm
EURAUD Some interesting levels on EURAUD. MA200 confluence / Fib and range. {image}
H4 confl RDH with MA200 as resitance, so rebound and short then ?
HPT
from level to level - you need mental strength to reach the summit
- #906
- Jun 9, 2016 6:05pm Jun 9, 2016 6:05pm
- Joined Sep 2013 | Status: OTM AI IntelliWave™ Trader | 1,107 Posts
{quote} What do you think ? - candles look like a litle sidewaysmarket. H4 confl RDH with MA200 as resitance, so rebound and short then ? {image} HPT
Trading in the shadow of SM
{quote} I have my eye on that level too, Earleone. I mentioned it as a possible indirect confluence for USD/CAD "I have drawn a level on oil at 54.02, about 1.20 above it's current level, where I believe it will hit resistance. At that point I think U/C might be down to a corresponding level of 1.26" Of course, if oil turns here it will have far more reaching impacts than a reversal in the U/C. A very important level to watch.
Gents, had some time on my hands so looked at oil. Looks like we have just had a nice hit on the 161 backed by previous S/R zones.
- #909
- Jun 10, 2016 2:17am Jun 10, 2016 2:17am
GBPNZD
Hello traders,
what do you think ? In W1 looks overbought, watch tl
H4 its ranging inside the fork, so what...?
HPT
Hello traders,
what do you think ? In W1 looks overbought, watch tl
H4 its ranging inside the fork, so what...?
HPT
from level to level - you need mental strength to reach the summit
- #913
- Jun 12, 2016 4:51am Jun 12, 2016 4:51am
GBPNZD Hello traders, what do you think ? In W1 looks overbought, watch tl {image} H4 its ranging inside the fork, so what...? {image} HPT
H4 a few tls crossing , comes the waterfall to end/stop ??
make your own decision
from level to level - you need mental strength to reach the summit
- #914
- Jun 12, 2016 6:06am Jun 12, 2016 6:06am
{quote} GBPUSD someone else short ? SL to BE {image} HPT
always the same, have to open my eyes its all on the chart, - closed my trade to early could be much more
draw tls and look @ significant points, example - crossings - and highs/lows . here the chocolate areas.
Then use fib and ...., simple but its working - perfect tp
make your own decision
from level to level - you need mental strength to reach the summit
- #915
- Jun 12, 2016 7:29pm Jun 12, 2016 7:29pm
AUD/USD
PA is basing at a somewhat higher level above the recent reversal cup at a level that was defined by the twisty pattern in early May and whose significance goes back to the highs in Oct and Nov 2015. The exp. H1 200 MA is acting as confl. along with potentially both H4 200 MAs.
PA is basing at a somewhat higher level above the recent reversal cup at a level that was defined by the twisty pattern in early May and whose significance goes back to the highs in Oct and Nov 2015. The exp. H1 200 MA is acting as confl. along with potentially both H4 200 MAs.
- #918
- Jun 12, 2016 9:22pm Jun 12, 2016 9:22pm
{quote} Hi Quinton I have no doubt that you have the ability to see gold in places where I only see lead. Can you show me how you can tell it is basing at this level? The drop it has taken to each level on the way down to here has not slowed a great deal approaching this level, although on the hourly chart there are bigger bear candles on two levels above, as opposed to the drop to this level, which is comprised of three bear candles combining to the equivalent of the largest bear candle above. I do see the exponential 200 MA, but I downloaded my...
I think you are seeing things pretty clearly (aside from the fact that we have different levels). Price is indeed coming down with quite some momentum. This is not necessarily a bad thing since when price creeps up to a level, orders can get consumed bit by bit, preventing price from gaining the kind of bounce that is associated with a large cluster of orders getting triggered. There was some basing the occurred over the weekend, however, the technicals are what really carries the day on this setup. In fact, I mainly focus on setups where PA has the least amount of influence on the outcome of a trade. A well priced, sharply defined golden level has the power to cause price to bounce even in a counter-trending environment. Yes, there are times when PA is screaming "oversold/-bought", or dropping so sharply due to a news event that it is better to stay out.
Here, AUD/USD created a nice bullish engulfing candle on the H1 at the levels. Was it necessary to wait for it before taking the trade? Some would say so, but then you lose a large chunk of the move to confirmation. Many of the "advantages" of this PA confirmation are stiped away when you consider the pips that are lost. Focus on the best formed and priced levels and PA will become less relevant (although never completely irrelevant).
By the way, one of the reasons I advocate drawing "zones" created by two levels, defining an entry range, is also illustrated with this setup. Very often many longs will get caught entering too early (probably because they did not wait for confirmation) and did not trade from the best level. A lower level entry or at least one where the SL accounts for it will keep you in the long while the others get washed out.
Q
- #919
- Jun 12, 2016 9:35pm Jun 12, 2016 9:35pm
USD/CAD After a spike down on Friday, related to positive news on Canadian employment, the price rose quickly through the three lower GLs you have previously identified, to close Friday Slightly above higher GL. Also, we had a DB, but only separated by two days. Today, with oil dropping again, price is starting to rise, and so far I have missed buying at 1.2772, where i placed an order. I read several articles over the week end which predicted falls based on sound fundamentals in Canadian economy, which made me cautious today, and i think I've missed...
Yes, that was a tough call. Price did ultimately settle for a level deeper in the range and hit it to the pip. I think I mentioned that I would not have been able to get long without repositioning at least one time. One could argue that due to the general ranging nature of the pair, only longs from deeper levels would have been candidates to take longs from. However, price was oversold enough to initiate from one of the higher level and not risk missing the trade. Luckily one does not have to win them all.
Q
