This is thread is for posting golden level chart setups for USD/JPY only.
You can find out more about how to exchange the process:
gt;gt; Before posting charts: http://www.streamhedge.com/trading/f...ldenlevels/ff0 </b>
Why transaction from golden S/R amounts?
1. It's not necessary to predict. Predicting what the market is going to do regularly over time is, time taking, stressful and unnecessary.
2. Faster compounding by trading by the ideal price amounts, using a high R:R (Risk:Reward ratio) and high win percent rate.
3. Predictable revenue stream by closing trades for a reasonable R (not too low, not too large) and not relying on trends.
4. Less stress: Considering that our trading is centered around finding price amounts to exchange from, we wait patiently for the market to return to us, not the other way round.
5. Less monitoring the market: Since we specify price level to exchange from beforehand, we can use limit orders and/or price alerts.
Which are golden degrees?
Golden amounts are S/R (support/resistance) levels which are more reliable and much better priced than many S/R levels. They are found inside price ranges and are defined by many highs and lows on several time frames. An example:
Another recent instance in oil. Note trading in the highs of this range could have led to a loss. Trading from amounts that exist at a range and are admired by price in the side are stronger and lead to additional profit!