To go along with those monthly candles here a possible long candidates from within the reversal cup. Both have .50 fib confl. from different highs. Q image

$ Millionaire Traders Golden Price Mining

Actually, I posted these a few weeks ago, however price decided to turn at a higher level around April 14. Now they came back into play and were well respected. Hard to position though due to the weekend break. image

$ Millionaire Traders Golden Price Mining

Some conflu. coming up on that short that might make for a good exit signal. image

$ Millionaire Traders Golden Price Mining

Care to elaborate?

$ Millionaire Traders Golden Price Mining

Not at all off-topic, just another way to view the same thing. I have also noticed a certain uniformity in the bull and bear moves of this pair over the last two months. The sell-offs have been violent and the overall bull move has a ranging ...

$ Millionaire Traders Golden Price Mining

Good level mining, factlover. Digging a bit deeper into that Oct/Nov range, we see that the .50 fib you drew coincides almost perfectly with the level around 108.40 - 108.66. Any long taken is heavily counter-trend so I would take only consider the ...

$ Millionaire Traders Golden Price Mining

There were some short-term shorts to be taken before price crashed into those highs, but only short-term. Q

$ Millionaire Traders Golden Price Mining

I usually do not fade a level again, unless some time has elapsed. I think Friday showed us why. Price ultimately respected the 125.50 level that was formed by tight ranges that twisted around it from both the short and long side. Will review all ...

$ Millionaire Traders Golden Price Mining

Good level but not all that surprised that it got cut on Friday (previous touch + higher low PA action). Slightly higher up, the golden level around 89.00 has been we'll respected by several lows (and a few highs). Daily 200 MAs and TL are setting ...

$ Millionaire Traders Golden Price Mining

SL hit -10 pips. It's Friday. Q

$ Millionaire Traders Golden Price Mining

Short with tight SL on USD/JPY @ 111.40. Not sure if I posted this one before. Perfect example of two great levels but differing states of PA. The lower level was not bad, but look at how aggressively PA is behaving. Lot's of higher lows right ...

$ Millionaire Traders Golden Price Mining

The PA on that recent move is parabolic in nature which means that while the move is sure to end, the last move up is particularly strong. This means that entry targets should be set esp. conservative, if at all. That indicator won't tell you that. ...

$ Millionaire Traders Golden Price Mining

Didn't take it. The action is around the 125.00 area, but if you take low of that April 5th range into account, it is slightly higher and price is reacting accordingly to it. As you mentioned, price already got close to that region and the fact that ...

$ Millionaire Traders Golden Price Mining

Keeping my target for short entry slightly higher to account for the lows in that Feb/March range. I would like to see that rising wedge take a bit more form before deciding on entry. Either way, not sure it will happen this week anyway. Q image

$ Millionaire Traders Golden Price Mining

Didn't take it but an excellent, sharp level. Good mining, Earleone! image

$ Millionaire Traders Golden Price Mining

Overall I agree with the zone. The direction is obviously up. But it is not pure trending action we are dealing with here. Those retracements are so deep that the long-term PA could be described as a mix of trending and ranging. So I will add the ...

$ Millionaire Traders Golden Price Mining

An absolute beauty of a bounce. image

$ Millionaire Traders Golden Price Mining

EUR/GBP The original golden level I posted was around .7870. As I mentioned, having PA range right in front of the level makes it less golden in most cases. The level I posted was good for a 20 pip pop, but the overall trend should be able to offer ...

$ Millionaire Traders Golden Price Mining

Thanks Hickson and welcome. Q

$ Millionaire Traders Golden Price Mining