Not bad. I hope you took it from the lows as the level's reach did extend a bit lower (as defined by the March "twisty" and recent April range). image

$ Millionaire Traders Golden Price Mining

PM sent.

$ Millionaire Traders Golden Price Mining

Sometimes a golden level for a previous long can act as a good exit signal for a long for a nearby level. Overall JPY breakout behaviour + previous golden level support turned resistance = close for 20 pip scalp. image

$ Millionaire Traders Golden Price Mining

That PA was grinding down into the level near 125.00 way too much. Other JPY pairs were behaving similarly.

$ Millionaire Traders Golden Price Mining

I do not count elliott waves explicitly, but base much of my determination of the most oversold/overbought conditions on this principal. Very often I find a move has over-extended itself to such a degree, that it likely satisfied the impulse cycle ...

$ Millionaire Traders Golden Price Mining

Hi asgcorp, Thanks for sharing your long-term view. Absolutely right. One of the TL formed from connecting the major high in 2008 to one of the highs in 2013 looks like it will confluence with the next major golden levels. For the beginners, we are ...

$ Millionaire Traders Golden Price Mining

Good question. I do look for PA correlation among the JPY pairs when JPY strengthens. During volatile times, it either means JPY specific news was released or a general risk off event occurred. (In any case it is not a good idea to counter-trend a ...

$ Millionaire Traders Golden Price Mining

I'll let the chart speak for itself. image

$ Millionaire Traders Golden Price Mining

Hi fisheggs and thanks! It was a 1:3. Could have been more if I had tightened my stop, but my stance was conservative due to it technically being a counter trend trade and the overall downward momentum preceding the rise up. Looks like it's going ...

$ Millionaire Traders Golden Price Mining

Now you'll see why I said that you are better off digging for golden levels outside of the range rather than within the current range: Closed a long for 58 pips from the level I posted on April 3 @ 1.4013 - 1.4019. Look how strong the reaction from ...

$ Millionaire Traders Golden Price Mining

Golden Levels holding up as a trend trade. url image

EURUSD

Your golden level is holding. This time with pin bar confirmation. I might add a description on the first post on when to use these to enter at a golden level. Q image

$ Millionaire Traders Golden Price Mining

Although I was reticent to take a position due to the ranging PA, the level seems to be holding. Went up to 40 pips already. Of course, in these cases even if the level holds you have to be quick to take profit when you are trading back into that ...

$ Millionaire Traders Golden Price Mining

Yup, it's strong. I took a short from it in Feb. Still wouldn't mind having some confluence to support it. Q

$ Millionaire Traders Golden Price Mining

See my previous post. We are on the same page. Q

$ Millionaire Traders Golden Price Mining

The AUD/USD level is holding as expected. Entry could have been more accurate, as the market turned more specifically at a very nearby level that was tested sharply from the long and short side. Again, these are always stronger. Enough to earn some ...

$ Millionaire Traders Golden Price Mining

If the level is above the market price, we look to go short from it. If it is below, we look to go long. The two levels drawn close together define the price range within which we want to place our trade. For example we might enter at the one ...

$ Millionaire Traders Golden Price Mining

The difficulty of trading back into the range. All kinds of technical factors that stand in the way of price shooting up. Hard to manage. Still holding though with stop at BE. image

$ Millionaire Traders Golden Price Mining

It's an ok level, essentially 125.00. I do not like that PA had parked itself right in front of it without touching the area. Q

$ Millionaire Traders Golden Price Mining