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Golden Levels: EUR/JPY

  • #21
  • Aug 11, 2016 2:16pm Aug 11, 2016 2:16pm
Pair seems to be basing and PA is a bit calm at the moment, so not expecting much at the moment in terms of pip gains. However recent PA offers us a good lesson in how to use the indicator. First, we zone off the nearest range with vertical levels right before price looks to enter back into it. The level drawn manually @ 116.33 is not all that bad but ultimately the generated GLs are the ones that stoped price in its tracks and caused the reversal. The lesson here: Esp. when facing upcoming, potentially volatile news releases, a more conservatively priced cluster of GLs should take precedent.


http://www.streamhedge.com/viewchart/dOCp0wd/2016-8-11_EURJPY_M30


Q



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  • #22
  • Aug 12, 2016 4:29am Aug 12, 2016 4:29am
Quoting factlover
previously spotted levels at 112.50 and 113.75 were respected on the way down and now on the way up, the price just bounced from 113.75 area - confl with Fib-62 level from last leg up added a new GL zone at 114.65 - 85 {image}
Fib-62 might be broken already. The last major low was at daily channel TL so now we are back into that daily channel coming from Sep 2015
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH4.png Size: 94 KB
  • #23
  • Aug 12, 2016 4:39am Aug 12, 2016 4:39am
Quoting Quinton
Pair seems to be basing and PA is a bit calm at the moment, so not expecting much at the moment in terms of pip gains. However recent PA offers us a good lesson in how to use the indicator. First, we zone off the nearest range with vertical levels right before price looks to enter back into it. The level drawn manually @ 116.33 is not all that bad but ultimately the generated GLs are the ones that stoped price in its tracks and caused the reversal. The lesson here: Esp. when facing upcoming, potentially volatile news releases, a more conservatively...
I see the opposite problem with the GL indicator with this pair - to the one described here: http://www.forexfactory.com/showthre...84#post9080284
When I switch TFs I see empty charts for M30,H1,H4 and lots of lines on M15 and D1. When I move vert.line a bit I see the following pictures, 1st D1 chart on TF switch 2nd on line move, H4, H1 charts on line move as they have only vert.lines on TF switch:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYDaily-gl.png Size: 103 KB
Click to Enlarge Name: EURJPYDaily-glv.png Size: 99 KB
Click to Enlarge Name: EURJPYH4-glv.png Size: 97 KB
Click to Enlarge Name: EURJPYH1-glv.png Size: 97 KB
  • #24
  • Aug 29, 2016 3:20am Aug 29, 2016 3:20am
Pair is breaking out of it's range. While 114.00 does have some well formed level surrounding it. The better priced and supported (multiple confluence factors) are to be found at 113.56 - 113.45 for long entries.

http://www.streamhedge.com/viewchart...8-29_EURJPY_H1


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  • #25
  • Last Post: Sep 8, 2016 7:57am Sep 8, 2016 7:57am
Quoting Quinton
Pair is breaking out of it's range. While 114.00 does have some well formed level surrounding it. The better priced and supported (multiple confluence factors) are to be found at 113.56 - 113.45 for long entries. http://www.streamhedge.com/viewchart...8-29_EURJPY_H1 >> Learn More About Golden Levels
EJ pair turned at prev. spotted levels around 116.5 and 113.75
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH4.png Size: 96 KB
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