This is thread is for submitting golden level chart setups for USD/CAD only.
You can find out more about how to exchange the process:
gt;gt; Before submitting charts: http://www.streamhedge.com/trading/f...ldenlevels/ff0 </b>
Why trade out of golden S/R amounts?
1. It's not necessary to predict. Predicting exactly what the market will do consistently over time is, time taking, stressful and unnecessary.
2. Quicker compounding by trading from the ideal price amounts, using a high R:R (Risk:Reward ratio) and high win % rate.
3. Predictable revenue stream by closing trades for a reasonable R (not too low, not too high) and not relying on trends.
4. Less pressure: Considering that our trading is centered around finding price amounts to exchange out of, we wait patiently for the market to return to people, not the other way around.
5. Less tracking the market: Because we specify price level to exchange from ahead of time, we could use limit orders and/or price alarms.
What are golden levels?
Golden amounts are S/R (support/resistance) levels that are more dependable and much better priced than many S/R levels. They're found inside price ranges and are defined by highs and lows on multiple time frames. For instance:
Another recent instance in oil. Note how trading from the highs of the range would have resulted in a loss. Trading from amounts that exist in a range and are respected by price from the side are stronger and result in greater profit!