Golden Levels: AUD/USD | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Golden Levels: EUR/AUD 18 replies

Golden Levels: GBP/USD 14 replies

Golden Levels: EUR/USD 14 replies

Golden Levels: AUD/NZD 5 replies

Golden Levels: AUD/JPY 5 replies

Attachments: Golden Levels: AUD/USD
Exit Attachments

Golden Levels: AUD/USD

  • #1
  • First Post: Edited Jun 25, 2016 4:29pm Jun 19, 2016 10:00pm | Edited Jun 25, 2016 4:29pm
Golden Levels: AUD/USD

This is thread is for posting golden level chart setups for AUD/USD 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:

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 87 KB


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!

Attached Image (click to enlarge)
Click to Enlarge Name: download.png Size: 120 KB
  • #2
  • Edited 4:28am Jun 20, 2016 4:11am | Edited 4:28am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
AUDUSD H4

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4 20.06.16.png Size: 39 KB


decide for yourself

Hpt
from level to level - you need mental strength to reach the summit
  • #3
  • Jun 20, 2016 12:31pm Jun 20, 2016 12:31pm
Quoting Hpt
AUDUSD H4 {image} decide for yourself Hpt

Probably won't consider any shorts until price reaches around .7600 if it moves back into the March/April range. Even if it does, the levels around .7500 were better. But due to the overall bullish nature of the PA on this pair (cup and recent bull candle on the H4), I would not short at that price again.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 70 KB


I would consider some long scalps from the indicator generated golden levels (yes, I'm releasing it soon) around .7400 and slightly below .

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 61 KB
  • #4
  • Jun 21, 2016 10:58am Jun 21, 2016 10:58am
0.75 looks good to go short on it
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 37 KB
Man lie, woman lie, numbers don't
  • #5
  • Jun 21, 2016 4:45pm Jun 21, 2016 4:45pm
Quoting MisterG
0.75 looks good to go short on it {image}
yeah, it's a round number .75 and it looks like well defined GL - Fib-50 and Murrey 7/8 are here too
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 86 KB
  • #6
  • Jun 22, 2016 6:27am Jun 22, 2016 6:27am
Quoting MisterG
0.75 looks good to go short on it {image}


It is absolutely golden by definition. I passed on it due to bullish PA.

Q


>> Learn More About Trading Golden Levels
  • #7
  • Jun 22, 2016 6:40am Jun 22, 2016 6:40am
Quoting factlover
{quote} yeah, it's a round number .75 and it looks like well defined GL - Fib-50 and Murrey 7/8 are here too {image}

Nice chart. If you look closely, price overshot .7500 a bit (not by much) and landed to the pip on the level created by those deeper highs and lows... golden level principle in action.

Q



>> Learn More About Trading Golden Levels
  • #8
  • Jun 22, 2016 1:52pm Jun 22, 2016 1:52pm
Quoting Quinton
{quote} It is absolutely golden by definition. I passed on it due to bullish PA. Q >> Learn More About Trading Golden Levels
Market shows some weakness above 0.75 , maybe that's the time to short it ?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 25 KB
Man lie, woman lie, numbers don't
  • #9
  • Edited 7:14am Jun 23, 2016 5:43am | Edited 7:14am
Quoting Hpt
AUDUSD H4 {image} decide for yourself Hpt
0.76 marked on Hpt's and Quinton's charts too
Quoting MisterG
{quote} Market shows some weakness above 0.75 , maybe that's the time to short it ? {image}
.75 is taken but now we have .76 area which looks well defined by daily range in 2015 and on H4 it looks as a possible GL candidate to me. I see it's already respected
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 80 KB
Click to Enlarge Name: AUDUSDDaily.png Size: 98 KB
  • #10
  • Jun 23, 2016 6:03am Jun 23, 2016 6:03am
Quoting factlover
{quote} .75 is taken but now we have .76 area which looks well defined by daily range in 2015 and on H4 it looks as a possible GL candidate to me. I see it's already respected {image} {image}
I concur, 1.27 Fib. + top of channel may check it for a little while.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 41 KB
  • #11
  • Jun 23, 2016 6:33am Jun 23, 2016 6:33am
Quoting Pigpilot
{quote} I concur, 1.27 Fib. + top of channel may check it for a little while. {image}
thanks, it's a good point, I forgot about trend lines for this pair. - updated my charts with this channel and weekly descending TL which is close too
  • #12
  • Jun 23, 2016 6:45am Jun 23, 2016 6:45am
Quoting factlover
{quote} thanks, it's a good point, I forgot about trend lines for this pair. - updated my charts with this channel and weekly descending TL which is close too
Your fibs a better fit, don't usually look at the 23.6/76.4 but it was a perfect hit on yours.
  • #13
  • Jun 23, 2016 6:51am Jun 23, 2016 6:51am
Quoting Quinton
{quote} Probably won't consider any shorts until price reaches around .7600 if it moves back into the March/April range. Even if it does, the levels around .7500 were better. But due to the overall bullish nature of the PA on this pair (cup and recent bull candle on the H4), I would not short at that price again. {image} I would consider some long scalps from the indicator generated golden levels (yes, I'm releasing it soon) around .7400 and slightly below . {image}
Price touched level at the end of a parabolic move. I therefore expect quite a bit of price deflation.

Q


Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 25 KB



>> Learn More About Trading Golden Levels
  • #14
  • Jun 24, 2016 5:45pm Jun 24, 2016 5:45pm
Quoting factlover
{quote} 0.76 marked on Hpt's and Quinton's charts too {quote} .75 is taken but now we have .76 area
same picture here, both levels .75 and .76 were confirmed as golden today, so I expect they will be respected again as AU pair is still going up withing up-trend boundaries.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 94 KB
  • #15
  • Jul 12, 2016 4:34am Jul 12, 2016 4:34am
AU is in up trend since end of May, I see there may be a possible GL zone at .7670 - .7700.
Now it's at weekly downtrend TL area (.7615 - .7625) which came from Aug 2014 - it may be GL reversal area too.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 95 KB
  • #16
  • Jul 12, 2016 9:48am Jul 12, 2016 9:48am
Quoting factlover
AU is in up trend since end of May, I see there may be a possible GL zone at .7670 - .7700. Now it's at weekly downtrend TL area (.7615 - .7625) which came from Aug 2014 - it may be GL reversal area too. {image}

Hi factlover and welcome back.

Agree with your levels. AUD/USD is at a tricky point right now as price is very bullish. There is also a twisty pattern around .7730.
So all in all it's going to be hard to determine which one will serve as the reversal point.

Q


>> Learn More About Golden Levels
  • #17
  • Jul 13, 2016 3:36am Jul 13, 2016 3:36am
Quoting factlover
AU is in up trend since end of May, I see there may be a possible GL zone at .7670 - .7700. Now it's at weekly downtrend TL area (.7615 - .7625) which came from Aug 2014 - it may be GL reversal area too. {image}

AUD/USD

@factlover The .7500 is well respected (esp. with the .50 fib you drew). I think one could be a bit more daring with the long level, since there are some price knots around .7522 and other potential confluence factors and the presence of fairly strong upward pressure.

Since it is harder to tell where this pair might reverse its bullish course, the area around .7522 - .7527 provides deeply set golden levels with a load of confluence factors. The lower end of this zone is confirmed by the indicator. Two golden levels exist closer to the highs @ around .7536 and should be considered for a first long attempt esp. if one of the 200 MAs confluences with it.

http://www.streamhedge.com/viewchart/cBgQpim/2016-7-13_AUDUSD_H1



>> Learn More About Golden Levels
  • #18
  • Jul 13, 2016 4:13am Jul 13, 2016 4:13am
Quoting Quinton
{quote} AUD/USD @factlover The .7500 is well respected (esp. with the .50 fib you drew). I think one could be a bit more daring with the long level, since there are some price knots around .7522 and other potential confluence factors and the presence of fairly strong upward pressure. Since it is harder to tell where this pair might reverse its bullish course, the area around .7522 - .7527 provides deeply set golden levels with a load of confluence factors. The lower end of this zone is confirmed by the indicator. Two golden levels exist closer to...
I see .7600 level is respected too and it's not broken yet. Yes, I would go long from your .7536 area or after strong break above .7610-20 -- the weekly TL which came from Aug 2014
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 89 KB
  • #19
  • Jul 19, 2016 4:08am Jul 19, 2016 4:08am
Quoting factlover
{quote} I see .7600 level is respected too and it's not broken yet. Yes, I would go long from your .7536 area or after strong break above .7610-20 -- the weekly TL which came from Aug 2014 {image}
weekly TL zone at .7600 was respected, and now we are back to .7500 area which may serve as a possible GL candidate: round number, broken Fib-50 may now add support, H4 EMA-200 coming to add support too. Lower border of the ascending channel is close to this level too
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 86 KB
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 94 KB
  • #20
  • Jul 19, 2016 4:19am Jul 19, 2016 4:19am
Quoting factlover
{quote} weekly TL zone at .7600 was respected, and now we are back to .7500 area which may serve as a possible GL candidate: round number, broken Fib-50 may now add support, H4 EMA-200 coming to add support too. Lower border of the ascending channel is close to this level too {image} {image}
Nice one
Trading in the shadow of SM
0 traders viewing now