{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
Q
$ Millionaire Traders Golden Price Mining
- #941
- Jun 14, 2016 3:16am Jun 14, 2016 3:16am
Q
- #942
- Jun 14, 2016 3:37am Jun 14, 2016 3:37am
GBPNZD Hello traders, what do you think ? In W1 looks overbought, watch tl {image} H4 its ranging inside the fork, so what...? {image} HPT
I don't pay all that much attention to this pair, but price is coming down a bit strong and the range that it is entering is long, which means several possible golden level candidates (harder to pick one). As you can see, the upper level @ 2.000 is causing a price reaction, however there is another good level right below it.
- #945
- Jun 14, 2016 3:56am Jun 14, 2016 3:56am
AUD/USD Just a heads up= Diverging a bit from GL agenda, but still relevant to PA, AUD has formed a doji on weekly, which could become a bearish evening doji star if confirmed by follow up bear candle, portending a drop at weekly level {image}
The retracement was good for about 50 pips.
Time to dig for levels deeper within that cup that price is charging toward. The red ones in the chart below were generated by an indicator that I will be releasing hopefully shortly.
- #948
- Jun 14, 2016 4:30am Jun 14, 2016 4:30am
How does one use the goldenalert ? I've added it to the indicators folder and drag it onto a chart but nothing. Does one place a horizontal line and somehow associate it with the goldenindicator through the description dialog? Thanks in advance
The indicator should detect the the line automatically. Did you set the Pip alert value? I will probably update it with some refinements after the golden level "detector" indicator is released.
Q
- #949
- Jun 14, 2016 4:45am Jun 14, 2016 4:45am
{quote} Brent Crude I've drawn in a different TL on 4HR and cleared others for clean picture. This one comes from low of mid Feb. The grey and red lines that wrap around it almost constantly on the way up are the 200 EMA and 200 MA. I've found a candidate for a GL at 48.78-48.88 that has confluence with the trendline and MA levels, which are currently within 3 points of each other at 4868 and 4865. Quinton thanks for the update on CAD/USD I will use your top GL for TP, I had my pending triggered yesterday at 1.2772. Good call on AUD as well, I didn't...
A good TL and MA 200 can be enough to cause a bounce. However, I consider oil to require more PA confirmation much like a stock. In fact, most of the candle patterns come from the stock and commodities world where price momentum can be much greater than in FX (on average) and price revisions tend to be less likely.
As for USD/CAD it was pretty clear to me that price would likely push through that first level, what happened after is a good example of a golden level destined for a short flipping into a long entry target. Price is trending strongly and "stacking" as the level changed from resistance to support. In fact, even the same MA acted as confl. for the long and hit it and the level to the pip. All the action played out short-term and personally I do not think that the time spent monitoring this short-term action would have been worth it. But it's a good example nevertheless.
As for brent vs. crude, there is a technical difference over the short to mid-term much like with the JPY crosses or the various equity indices. Over time there tends to be strong correlation but when it comes to entries and price targets, the technical differences make all the difference.
Q
- #950
- Jun 14, 2016 5:08am Jun 14, 2016 5:08am
NZD/USD
Both H1 200 MAs are coming together to provide confl. support to a level right below .7000. (within 10-20 pips). The level is not the absolute highest quality, however it exists right below the round numbered level allowing for a long when/if an overshoot of .7000 occurs. USD news is coming up within a few hours so I will likely not take a trade ahead of it unless price moves to the level within the next minutes. Even then it would only be good for a short scalp.
Q
Both H1 200 MAs are coming together to provide confl. support to a level right below .7000. (within 10-20 pips). The level is not the absolute highest quality, however it exists right below the round numbered level allowing for a long when/if an overshoot of .7000 occurs. USD news is coming up within a few hours so I will likely not take a trade ahead of it unless price moves to the level within the next minutes. Even then it would only be good for a short scalp.
Q
{quote} The indicator should detect the the line automatically. Did you set the Pip alert value? I will probably update it with some refinements after the golden level "detector" indicator is released.
So, it automatically triggers any line on the chart when price comes to it (within set range).
Thank you for clarifying.
- #953
- Jun 14, 2016 9:27am Jun 14, 2016 9:27am
EUR/USD almost @ round number 1.1200 coinciding with MA 200, 0.38 fib and the ascending TL on the Daily. However, it doesn't look deeply oversold right now so I'm also considering a lower level for a long if it comes into play (1.1180-1.1150) Low leverage and scale in if/when it takes off. {image}
Absolutely. I've been testing the indicator which mined a level @ 1.1214 that was defined by the recent cup. But more than the 20 pip bounce I would not expect due to the reasons you already mentioned.
Interestingly on the M15, the indicator produced a level @ 1.1156.
- #955
- Jun 14, 2016 9:38am Jun 14, 2016 9:38am
EUR/USD almost @ round number 1.1200 coinciding with MA 200, 0.38 fib and the ascending TL on the Daily. However, it doesn't look deeply oversold right now so I'm also considering a lower level for a long if it comes into play (1.1180-1.1150) Low leverage and scale in if/when it takes off. {image}
Did a fun golden level "heat map" which produced the top 30 levels with 3 pips difference between highs and lows. Price is right at a cluster of these. The largest within the long-term range. Still I agree that it would be wise to go long at a better priced level due to PA.
- #957
- Jun 15, 2016 4:32am Jun 15, 2016 4:32am
NZDUSD
someone else scalp long here? entry was to early - patience - area hit Q posted , confl. with tl
Buy the highs,.. but trade is green
Hpt
someone else scalp long here? entry was to early - patience - area hit Q posted , confl. with tl
Buy the highs,.. but trade is green
Hpt
from level to level - you need mental strength to reach the summit
- #959
- Jun 15, 2016 9:36am Jun 15, 2016 9:36am
- Joined Sep 2013 | Status: OTM AI IntelliWave™ Trader | 1,107 Posts
{quote} USD/CAD Here are the next levels to consider for shorts. Price definitely has some bullish ambitions in the near future but is re-entering the recent range that it just poked out of. PA is definately too bullish to consider the lower level for anything but a scalp (and even that is questionable) The upper level right above 1.2900 has multiple fib retracement confl. and possible higher TF H4 200 MA resistance. It also is formed by thicker price knots and a series of significant lows. If price progresses as is has been, by the time it gets...
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Trading in the shadow of SM
