Hi maximumguita, No problem. Technicals like fib retracements, MAs etc. become confluence factors then they overlap or coincide with our drawn level. They strengthen the levels from which we trade and in general we can expect a greater price ...

$ Millionaire Traders Golden Price Mining

Yes, been monitoring that level. Although I have set mine a bit more conservatively and also added secondary levels around 1.5200. That row of lows from that Jan/Feb range is too significant to ignore. Q image

$ Millionaire Traders Golden Price Mining

Golden level hit with other candidates in play: url image

EUR/AUD

EUR/AUD Already 60+ pips up from our initial golden level. Any reloads on short should come from those deeper seated levels in the range. Due to the parabolic nature of price, this short move may just be a retracement of a continued bull move into ...

$ Millionaire Traders Golden Price Mining

GBP/USD reacting around those lower price nuggets. Trading back into the range is tricky as I mentioned.

$ Millionaire Traders Golden Price Mining

If at all, yes. Note that it already made for a great long on March 22. Not seeing much confluence though, which I would like for a green light for another long at that level. Q

$ Millionaire Traders Golden Price Mining

At this point we are catching falling knives. It could hold though, esp. since it exists at the lower end of the range. But, the risk off environment must have us be vigilant going long any commodity or JPY pair. Q

$ Millionaire Traders Golden Price Mining

Thanks KZmn & welcome! If price continues to linger without moving, then no. Also, if JPY does not decorrelate from equity weakness I might stay out. Q

$ Millionaire Traders Golden Price Mining

Yes, it already retraced 40 pips off the .50 fib at a level that wasn't badly formed. However, this means price has to move down a bit further before we can consider it oversold again, so keep entries conservative. Q image

$ Millionaire Traders Golden Price Mining

Hi raiders, Yes, my target for a long entry is set a but further down into that tight march range, making it more golden. Q

$ Millionaire Traders Golden Price Mining

As mentioned, due to upcoming news I won't take another position, but one can still learn from what is going on here. Price seems to be ultimately settling for a golden level at 75.42 - 74.45. It is better priced and is tested by multiple ranges ...

$ Millionaire Traders Golden Price Mining

Exactly. That's part of the reason I won't reload. In addition to the ambiguity of the levels. Q

$ Millionaire Traders Golden Price Mining

studio1, I believe short option positions are underrated and something many traders should consider in addition to outright stop positions, considering the range bound nature of FX in general. I assume you are trading options on fx futures? Q

$ Millionaire Traders Golden Price Mining

Good analysis, factlover. Yes, that level looks like it may carry the day so far. It's not all that golden in structure, but with .50 and very oversold price it may be used as the turning point. Took a small 15 pip loss on the long from 75.75. This ...

$ Millionaire Traders Golden Price Mining

AUD/USD If a determined move toward down to .7528 occurs (following the wave structure of this pair over the last month), leading to price becoming quickly oversold, expect a bounce up at this level. A good golden level to capitalize on that upward ...

$ Millionaire Traders Golden Price Mining

Your analysis is getting sharper, my friend. I agree that that range is the next line of attack for gold level mining. Those weekly MAs might also break the tie between various levels. Much of the weakness seems to be due to JPY stock ...

$ Millionaire Traders Golden Price Mining

They can be. I usually only trade levels where the market has clearly respected a level and then pulls away from it for a while (to make sure the orders cluster at that level). Then I look for an entry. But yes, esp. when PA is screaming oversold or ...

$ Millionaire Traders Golden Price Mining

Great job. That PA was screaming oversold. Q

$ Millionaire Traders Golden Price Mining

Short-term level to scalp some of the current long momentum. image

EURUSD

NZD/JPY Looking to split orders between two levels that have .50 and .61.8 fib support and 200 MA support respectively. The current drop seems to be correlated to Nikkei sell-off so a defensive approach would favor the lower level. It is also better ...

$ Millionaire Traders Golden Price Mining