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Golden Levels: EUR/AUD

  • #1
  • First Post: Aug 15, 2016 12:51am Aug 15, 2016 12:51am
Golden Levels: EUR/AUD

This is thread is for posting golden level chart setups for EUR/AUD 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
  • Aug 15, 2016 1:46am Aug 15, 2016 1:46am
Price is at the lower end of year long-term range and there is some bearish pressure visible on the higher time frames. On H1 price dipped back above the levels bounding the lower end of the long-term range, forming a cup. This is a short-/mid-term bullish indicator. Two possible long entry price points present themselves: One @ 1.4500 - 1.4488 and a lower price one @ 1.4472 -1.4468. Since this pair tends to move quickly and the lower level is better price and better formed due to price respecting it sharply from both the long and short side, I would prefer taking long positions from there.

http://www.streamhedge.com/viewchart...-15_EURAUD_M30

Shorts should be initiated carefully due to short-term bullish action, despite the longer term bearishness. The GL indicator revealed a level cluster from 1.4722 1.4740 which is also confirmed by two major price knots. Still any profits on shorts should be booked quickly.

http://www.streamhedge.com/viewchart...8-15_EURAUD_H4

Q


​>> Learn More About Golden Levels
  • #3
  • Aug 15, 2016 7:59am Aug 15, 2016 7:59am
Fired first bullet out on EURAUD short. Has two left. The good golden level as I see it is 1.4665 and if reached I add second bullet there. I have wide SL not fixed. But will need change of trend for me to go out of this one. ( Get positive swap every day so no stress and low leveraged trade )
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  • #4
  • Aug 15, 2016 11:08am Aug 15, 2016 11:08am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
H12

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H8

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decide for yourself

Hpt
from level to level - you need mental strength to reach the summit
  • #5
  • Aug 15, 2016 11:22am Aug 15, 2016 11:22am
Quoting Earleone
Fired first bullet out on EURAUD short. Has two left. The good golden level as I see it is 1.4665 and if reached I add second bullet there. I have wide SL not fixed. But will need change of trend for me to go out of this one. ( Get positive swap every day so no stress and low leveraged trade ) {image}

No reason not to take the short a bit earlier, esp. with reduced position size.

Q


>> Learn More About Golden Levels
  • #6
  • Aug 15, 2016 11:24am Aug 15, 2016 11:24am
Quoting Hpt
H12 {image} H8 {image} decide for yourself Hpt

I tend to set my targets for pairs like this a bit conservatively. Price reacted to 1.4600 but most of level was defined by recent highs, not lows which are required for shorts. Some number crunching through stats for this pair would reveal if taking shorts from highs is a good idea on this pair.

Q


>> Learn More About Golden Levels
  • #7
  • Aug 17, 2016 2:03am Aug 17, 2016 2:03am
Quoting Earleone
Fired first bullet out on EURAUD short. Has two left. The good golden level as I see it is 1.4665 and if reached I add second bullet there. I have wide SL not fixed. But will need change of trend for me to go out of this one. ( Get positive swap every day so no stress and low leveraged trade ) {image}
I don't see much downside potential in this pair until AUDUSD breaks a major weekly TL to the upside - please see my last pics and comments on it here http://www.forexfactory.com/showthre...27#post9087827
and note that EU in uptrend now.
If EA pair breaks and confirms both H4 200MAs and its major weekly TL in the current 1.47 area I'd rather look for long with targets around next GL candidates and round numbers at 1.48 and 1.49
I think it needs to sit above 1.4716 for confirmation which is Fib-62 from the last leg down
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  • #8
  • Aug 17, 2016 4:00am Aug 17, 2016 4:00am
Quoting factlover
{quote} I don't see much downside potential in this pair until AUDUSD breaks a major weekly TL to the upside - please see my last pics and comments on it here http://www.forexfactory.com/showthre...27#post9087827 and note that EU in uptrend now. If EA pair breaks and confirms both H4 200MAs and its major weekly TL in the current 1.47 area I'd rather look for long with targets around next GL candidates and round numbers at 1.48 and 1.49 I think it needs to sit above 1.4716 for confirmation which is Fib-62 from the last leg down...
Thank you. Yes are in squeze now. I think it is a bull trap. I am just at mobile now . I am holding and will evaluate after fomc. Small DD since my bullets are very low leveraged.
Trading in the shadow of SM
  • #9
  • Aug 17, 2016 7:47am Aug 17, 2016 7:47am
Quoting Earleone
{quote} Thank you. Yes are in squeze now. I think it is a bull trap. I am just at mobile now . I am holding and will evaluate after fomc. Small DD since my bullets are very low leveraged.
this pair is fast moving as we know, it's already in 1.48 GL area, bounced from Fib-76.4 (1.4794) and sitting at daily EMA-50. We may see some pullback from here
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  • #10
  • Aug 18, 2016 12:39am Aug 18, 2016 12:39am
Quoting factlover
{quote} this pair is fast moving as we know, it's already in 1.48 GL area, bounced from Fib-76.4 (1.4794) and sitting at daily EMA-50. We may see some pullback from here {image}
weekly TL at 1.4670-80 looks respected
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  • #11
  • Edited 3:02am Aug 18, 2016 2:48am | Edited 3:02am
Quoting factlover
{quote} weekly TL at 1.4670-80 looks respected {image}
Yes, I have to save bullets now. But managed to get in one more position. Very volatile. I am confident as long as we trade below MA 200 . My GL was broken on this squeeze so as GL trade this was not good one for me ( But I expected it was very possible it would go like this ) . Now it is testing the GL as support ( where I had my second entry. ) Also fundamental news was good numbers for AUD today.
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Trading in the shadow of SM
  • #12
  • Aug 18, 2016 4:35am Aug 18, 2016 4:35am
Quoting Earleone
{quote} Yes, I have to save bullets now. But managed to get in one more position. Very volatile. I am confident as long as we trade below MA 200 . My GL was broken on this squeeze so as GL trade this was not good one for me ( But I expected it was very possible it would go like this ) . Now it is testing the GL as support ( where I had my second entry. ) Also fundamental news was good numbers for AUD today. {image}
EURUSD maybe ready for a pullback from its current levels, check my post here and note the last leg looks parabolic. http://www.forexfactory.com/showthre...45#post9090145
AUDUSD may go higher too, it's sitting again right on its weekly TL, so short side now looks better than before
  • #13
  • Sep 19, 2016 1:49am Sep 19, 2016 1:49am
Last week EURAUD turned down at 1.5080 level which around daily MA-200 and Fib-161 extension. Daily trendline (1.4990-1.4950) and major weekly level at 1.5 still hold as resistance. (daily chart picture below was saved on Sep 13)
According to H4 chart this pair came to H4 MAs 200 area which may work as support, plus I see a GL candidate at 1.4790 and Fib-62 (1.4775) confluence from the very last leg up. Ascending weekly TL at 1.4740 may work as support too
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  • #14
  • Sep 22, 2016 6:44am Sep 22, 2016 6:44am
we may see a turning point here around 1.4650 area
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  • #15
  • Edited 5:13am Oct 14, 2016 4:58am | Edited 5:13am
Quoting Earleone
{quote} Yes, I have to save bullets now. But managed to get in one more position. Very volatile. I am confident as long as we trade below MA 200 . My GL was broken on this squeeze so as GL trade this was not good one for me ( But I expected it was very possible it would go like this ) . Now it is testing the GL as support ( where I had my second entry. ) Also fundamental news was good numbers for AUD today. {image}
2 months it took. I was getting nice carry on it but was a bitch of a trade. Was a mix of fundamental , carry and higher TF making me confident to stay in it. I found a golden level for final TP at higher tf .
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Trading in the shadow of SM
  • #16
  • Oct 14, 2016 5:25am Oct 14, 2016 5:25am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting Earleone
{quote} 2 months it took. I was getting nice carry on it but was a bitch of a trade. Was a mix of fundamental , carry and higher TF making me confident to stay in it. I found a golden level for final TP at higher tf . {image} {image}



What a ride ,so maybe you look a bit at dennis1468 thread , gives good clues

happy trading
Hpt
from level to level - you need mental strength to reach the summit
  • #17
  • Oct 14, 2016 5:31am Oct 14, 2016 5:31am
Quoting Hpt
{quote} What a ride ,so maybe you look a bit at dennis1468 thread , gives good clues happy trading Hpt
Thank you Hpt.
It looks interesting, I will take a look.
Very happy with the golden levels. ( This trade was not an good example for golden levels. But when starting to post that trade here I wanted to post the final too .
Trading in the shadow of SM
  • #18
  • Oct 15, 2016 4:22am Oct 15, 2016 4:22am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting Earleone
{quote} Thank you Hpt. It looks interesting, I will take a look. Very happy with the golden levels. ( This trade was not an good example for golden levels. But when starting to post that trade here I wanted to post the final too .

Its good to show trades , which are not perfect, we learn most
.
some real golden levels correspond with NFP levels

nice weekend
Hpt
from level to level - you need mental strength to reach the summit
  • #19
  • Last Post: Oct 16, 2016 2:09am Oct 16, 2016 2:09am
Quoting Earleone
{quote} 2 months it took. I was getting nice carry on it but was a bitch of a trade. Was a mix of fundamental , carry and higher TF making me confident to stay in it. I found a golden level for final TP at higher tf . {image} {image}
congrats!!
this current major level comes from 2010 and tested many times, we'll see a battle around it
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