Incredibly sharp golden level with significance going back to 2014. When you have a level that retains its sharpness for this long, you've struck gold so to speak. That Jan-April 2015 cup is what really underlines the level purpose as long entry ...

$ Millionaire Traders Golden Price Mining

Indeed. I would include the range on the level up to 1.1420 to include that little price knot that I marked. 61.8 fib acts as confluence. 1.4000 is also close by for a short in case a really well-formed spike & drift pattern evolves. The price ...

$ Millionaire Traders Golden Price Mining

Would not trade pegged currencies based on pure technicals, unless you are trading the fundamentals of CB policy and your analysis leads you to believe that the CB will likely stop defending a certain price level. url Otherwise, things can go very ...

$ Millionaire Traders Golden Price Mining

Price now caught between the lower level that has now turned into support and the higher golden level. Perfect candidate for setting SL to BE until that lower level is cleared. image

$ Millionaire Traders Golden Price Mining

Actually there is a golden level at .7777. Wasn't formed by the recent range, but was well formed by the earlier ranges back in March, so didn't consider it. 200 MA is confluencing with it giving it the needed "revival". image

$ Millionaire Traders Golden Price Mining

One of the H4 200 MAs contributed greatly to the pullback. Looks like it will make another go at that resistance. However, what you say is true. With a nice winner under your belt, one can afford to counter-trend trade a bit. Q

$ Millionaire Traders Golden Price Mining

EUR/JPY is in a nasty range and has been for quite some time now. There were some good golden levels to trade from (notably toward the lower and higher end of the range which where the best opportunities are in such an environment) but there have ...

$ Millionaire Traders Golden Price Mining

Changed to 'shorts'. Thanks. The comments relate to a level that I posted a week ago here, btw: url Q

$ Millionaire Traders Golden Price Mining

EUR/GBP As I mentioned, that double bottom would probably be a potential issue for any shorts from lower levels (as indeed it turned out to be). I have marked the next significant levels below. They seem far away but the gaps between price and ...

$ Millionaire Traders Golden Price Mining

Not quite. Golden levels also appear at non-round numbers. This can happen esp. when price starts reacting to highs, lows and session open and closes or MAs and other technicals. Also, not all round number level are tradeable, we still require the ...

$ Millionaire Traders Golden Price Mining

Been scalping that tight range for about 20 pips. No long-term holding here. That range is in play, however note how price is responding to the innermost levels (golden levels), not the levels formed by the outer lows of the range. Q

$ Millionaire Traders Golden Price Mining

Nice one, dominus. Not an easy call in this "brexit" environment. Usually the best golden levels can be traded just on the first touch (if PA near the level is playing along). Here I would definately aggressively book some profits on the ...

$ Millionaire Traders Golden Price Mining

The level isn't bad, it would just be nice if this pair weren't ranging as much as it currently is. Q

$ Millionaire Traders Golden Price Mining

Pigpilot, it didn't reach your entry target but I must say the approach was very sound. Q

$ Millionaire Traders Golden Price Mining

Would have been nice if one of the MAs had confluenced with the level. Then things might have turned out differently. If that MA has just been positioned a bit lower on EUR/GBP, that trend might have at least been paused. Very bullish at the moment. ...

$ Millionaire Traders Golden Price Mining

As factlover mentioned the older a level is the harder it will be to draw accurately and unambiguously. There are times when they can be drawn accurately, but most of the time the H1-H4 time frame range will produce most of the tradeable levels. It ...

$ Millionaire Traders Golden Price Mining

GBP/CHF Similar picture on this pair. image

$ Millionaire Traders Golden Price Mining

GBP/AUD The weakness in the GBP caused by brexit runs counter to some trends previously in place. It also presents an opportunity for late-comers to the trend to enter their long positions (too late of course). Would use the upper levels to scalp ...

$ Millionaire Traders Golden Price Mining

NZD/USD PA starting to take on parabolic character, which means that a reversal is bound to happen, but harder to time (remember the NASDAQ top in 2001). H4 200 MA looking to confl. with the lower level @ .6834, however I am including the higher ...

$ Millionaire Traders Golden Price Mining

In all this Brexit madness, Aussie has been producing some of the cleanest PA of all. Didn't take them, but all significant golden levels within that reversal cup were good for longs. image

$ Millionaire Traders Golden Price Mining