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Golden Levels: EUR/GBP

  • #1
  • First Post: Edited Jun 25, 2016 4:31pm Jun 20, 2016 3:37pm | Edited Jun 25, 2016 4:31pm
Golden Levels: EUR/GBP

This is thread is for posting golden level chart setups for EUR/GBP only.

You can find out more about how to trade the method here:

>> Before posting charts: Learn More About Trading Forex Golden Levels


Why trade from golden S/R levels?

1. No need to predict. Predicting what the market will do consistently over time is, time taking, stressful and unnecessary.
2. Faster compounding by trading from the best price levels, with a high R:R (Risk:Reward ratio) and high win % rate.
3. Predictable income stream by closing trades for a reasonable R:R (not too low, not too high) and not relying on trends.
4. Less stress: Since our trading is centered around finding specific price levels to trade from, we wait for the market to come to us, not the other way around.
5. Less monitoring the market: Because we define price level to trade from ahead of time, we can use limit orders and/or price alerts.


What are golden levels?

Golden levels are S/R (support/resistance) levels that are more reliable and better priced than most S/R levels. They are found deep within price ranges and are defined by many highs and lows on multiple time frames. An example:

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Another recent example in oil. Note how trading from the highs of the range would have resulted in a loss. Trading from levels that exist deeper in a range and are respected by price from the long and short side are stronger and result in more profit!

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  • #2
  • Edited 5:00pm Jun 21, 2016 6:27am | Edited 5:00pm
Price is approaching a good level for a long around .7642 - .7632. Short price momentum is slowing significantly as it approaches this level pointing an oversold condition.

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On the daily, the exp. 200 MA is lining up to support the long trade. Two lower levels supported by the 68.1 and .50 fib are worth watching as well.

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  • #3
  • Jun 21, 2016 9:35am Jun 21, 2016 9:35am
Nice new system ( The different threads. )

I had to check eurgbp now and see that I was approximately at same level as you mentioned for the ma200
By touch 7647 I put in an buy stop 5 pips above. If not activated I delete if it goes 15 to 20 pips below the MA ( Where I also will have my SL if triggered. )
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Trading in the shadow of SM
  • #4
  • Edited 5:00pm Jun 21, 2016 10:03am | Edited 5:00pm
Quoting Earleone
Nice new system ( The different threads. ) I had to check eurgbp now and see that I was approximately at same level as you mentioned for the ma200 By touch 7647 I put in an buy stop 5 pips above. If not activated I delete if it goes 15 to 20 pips below the MA ( Where I also will have my SL if triggered. ) {image}

Indeed. There is so much good support that it it is broken there will probably be a reason for it so a SL of that size makes sense.

The golden level power mining indicator confirmed the level when I applied it to the recent cup and the early 2016 range (below). Also came up with a small secondary level.

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  • #5
  • Jun 23, 2016 3:43am Jun 23, 2016 3:43am
Quoting Quinton
{quote} Indeed. There is so much good support that it it is broken there will probably be a reason for it so a SL of that size makes sense. The golden level power mining indicator confirmed the level when I applied it to the recent cup and the early 2016 range (below). Also came up with a small secondary level. {image} {image} >> Learn More About Trading Golden Levels
Despite PA creeping up on the level initially it was crisp enough to likely cause a reaction for any but the most volatile PA. Perfect touch and great bottoming action followed, despite price having trouble breaking .7700. Price making another go at that level, so holding any longs for now is probably a good idea.

Q

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  • #6
  • Jun 23, 2016 6:04am Jun 23, 2016 6:04am
Quoting Quinton
{quote} Despite PA creeping up on the level initially it was crisp enough to likely cause a reaction for any but the most volatile PA. Perfect touch and great bottoming action followed, despite price having trouble breaking .7700. Price making another go at that level, so holding any longs for now is probably a good idea. Q {image} >> Learn More About Trading Golden Levels
An otherwise great technical setup taken out by brexit fundamental news. Out at BE on small position. Still, the move was good for up to a 50 pip gain.

Q

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  • #7
  • Jul 30, 2016 9:02am Jul 30, 2016 9:02am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
EURGBP H4

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entry zone looks clear for m.. hope for you too.. patience
make your own decision

Hpt
from level to level - you need mental strength to reach the summit
  • #8
  • Jul 30, 2016 5:04pm Jul 30, 2016 5:04pm
Quoting Hpt
EURGBP H4 {image} entry zone looks clear for m.. hope for you too.. patience make your own decision Hpt

That .8600 level is one of the sharpest I have seen in the past weeks (formed by the 2013 range). Might be worth another fade, but the probability of a bounce is of course lower now.


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  • #9
  • Jul 31, 2016 5:17am Jul 31, 2016 5:17am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting Hpt
EURGBP H4 {image} entry zone looks clear for m.. hope for you too.. patience make your own decision Hpt
EURGBP M

monthly linechart with tl +fork as confl

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decide for yourself

HPT
from level to level - you need mental strength to reach the summit
  • #10
  • Aug 11, 2016 10:43pm Aug 11, 2016 10:43pm
Been a long time coming and could be a good trade for next week EURGBP should come in to heavy resistance from as far back as 1995 line at 0.87 is 61RT and coincides with 100FEX from 6980/8116 to 7564 not going blindly into this trade but going to look for evidence for a good corrective move to the down side
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  • #11
  • Aug 12, 2016 6:13am Aug 12, 2016 6:13am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Monthly

ABC- D , but I donīt short here , no golden level for me , looking further north.
( long since 0.8494), break resistance here ??

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0.8865 has confl with 1.236 ( yellow range O/C ) , ... long way to go

decide for yourself

Hpt
from level to level - you need mental strength to reach the summit
  • #12
  • Aug 15, 2016 9:11am Aug 15, 2016 9:11am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting Hpt
EURGBP H4 {image} entry zone looks clear for m.. hope for you too.. patience make your own decision Hpt
EURGBP H4
the power of risk reward 1:8
levels and fork works perfect together

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happy trading
Hpt
from level to level - you need mental strength to reach the summit
  • #13
  • Aug 15, 2016 11:15am Aug 15, 2016 11:15am
Quoting jvmv4
Been a long time coming and could be a good trade for next week EURGBP should come in to heavy resistance from as far back as 1995 line at 0.87 is 61RT and coincides with 100FEX from 6980/8116 to 7564 not going blindly into this trade but going to look for evidence for a good corrective move to the down side {image}

Price is going parabolic at the moment, which means that you should set those stops further away than usual with reduced trade size. The level might be well-formed going back some ways but as I have mentioned this becomes harder to determine the further you go back in time. The trade is heavily counter-trend in nature. I would prefer to make some of the bullish momentum work in my favor and pick up some longs on a pullback. However, given how quickly price has moved upward it could take some time until price gets to the .8400 area.

http://www.streamhedge.com/viewchart...8-15_EURGBP_H4

Q


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  • #14
  • Last Post: Aug 24, 2016 11:13pm Aug 24, 2016 11:13pm
Correction from 8724 to 8484 could be complete should now see a move toward 8600 and see what happens there any ideas guys
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