Are support and resistance levels predetermined? | Page 7 | Forex Factory

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Are support and resistance levels predetermined?

  • #121
  • Sep 30, 2013 3:19am Sep 30, 2013 3:19am
Hello Aebab,

Thanks for sharing your mathematically ingenious efforts. So far I gratefully enjoyed the use of your Pivot Calculator V1 and Swirl levels , but this is really beyond all expectations!!!

Yesterday I installed the F5_103F Template in AudUsd (size 103, baseline 1.0249).
I noticed that the number of Phases to the downside were not enough to cover the price levels in partly this summer and current price is in the lowest Phase right now.

When phases are not sufficient to cover price levels anymore, how do we deal with such a situation?

Regards,
Ben
  • #122
  • Sep 30, 2013 3:21am Sep 30, 2013 3:21am
Quoting campco
Hi Stinky, I saw Aebab writing somewhere uphere that every template can be used on all tf's. So not separate template made different time frames. Regards, Ben
Thanks campco. Worded my question incorrectly. I should have asked, are there any templates with really small phases and are they forever constant in size like the 965 no matter what?
  • #123
  • Sep 30, 2013 3:39am Sep 30, 2013 3:39am
OK Stinky, NP!

Did you see the T5_103F Template (as introduced by Bobi in this thread).
That's the 'shortest' I've seen from his hands.

As far as I know all these new templates are constant is size (but forever...???)


Regards,
Ben
  • #124
  • Sep 30, 2013 4:38am Sep 30, 2013 4:38am
Quoting SemaR82
{quote} Thank you for your response, here i attach image, hope you can understand what i mean. {image} In your rule you said that 38.2% is brokenwhen price is traveling from 76.4% of lower phase. But in picture tell diffrent. I'm sorry if i don't understand. Thank you before
Its clear . Please notice , the rule says :
We can say 38.2% is broken when price is traveling from 76.4% of lower phase and rises 7 pips above 38.2% level of current phase.

We can say 61.8% is broken when price is traveling from 23.6% of upper phase and falls 7 pips below 61.8% level of current phase.
When price is traveling from upper phase and has already met 23.6% level of upper phase , means we have a downtrend and 61.8% is the key to be broken.
But when price is traveling from lower phase and has already met 76.4% of lower phase, means we have an uptrend and 38.2% is the key to be broken.
Learn to walk before you run
  • #125
  • Sep 30, 2013 4:41am Sep 30, 2013 4:41am
Quoting hollowhead
{quote} Hi - thanks for the response. The answer to my question may have been in the rules for T5_105. Where you state that for a break to be valid price needs to have come from from 23.6 of upper phase and falls 7pips below 61.8%. This is really clear for T5_105. But I don't think you included where price needs to have come from for breaks on the other templates. Also, knowing how many pips makes a break. Thanks for everything your giving here.

If you are talking about Template with 103pips in length , the break is 7 pips
Learn to walk before you run
  • #126
  • Sep 30, 2013 4:44am Sep 30, 2013 4:44am
Quoting FX_Maniac
{quote} Dear Bobi it seems there is a mistake in Gold Template. The phase must be 2200 points (220 pips) but it is 22000 points.

Hello
I will post about it why I have set 22000 instead of 2200 . Its a magic of Abonacci Predetermination Theory. Today or tomorrow I will post this magic and its really a surprise for those who can understand how market is moving. wait for it!
Learn to walk before you run
  • #127
  • Sep 30, 2013 4:46am Sep 30, 2013 4:46am
Quoting campco
OK Stinky, NP! Did you see the T5_103F Template (as introduced by Bobi in this thread). That's the 'shortest' I've seen from his hands. As far as I know all these new templates are constant is size (but forever...???) Regards, Ben

Hi
Yes , you are right. The templates are constant in size and are valid for one year .
Learn to walk before you run
  • #128
  • Sep 30, 2013 4:52am Sep 30, 2013 4:52am
Hi Aebab - on Template 220, where should price have come from before breaking 61.8% and 38.2%?

Thanks
  • #129
  • Sep 30, 2013 5:02am Sep 30, 2013 5:02am
Quoting Baillie
Subscribed! Could you define what you consider a: Short Term Trader ? Medium Term Trader ? Long Term Trader ? Day Trader ? This may seem silly but I have seen many different definitions for these terms from different traders on these forums, also, Is FXPRO the only broker we can use to run your fine indicator on, for accurate results?
Hello
Short term can last for as little as a few minutes to as long as several days. But for professionals , bankers ,.. short term trading is a range of few days to few weeks. For these kind of traders , I have some other templates like T16_500 with 500 pips in range and 133 pip in length.

Medium term trading can last as long as several days to several weeks.
Long term trading can last as long as several weeks to several months . But for professionals or bankers ,depending on the type of security, a long-term asset can be held for as little as one year or for as long as 30 years or more.
But for me if I say medium term , I mean one week to 1-2 month. And long term is 1-2 month to 6 month.
Learn to walk before you run
  • #130
  • Sep 30, 2013 5:12am Sep 30, 2013 5:12am
Hi Aebab,

interesting view on the market.

I do have one question regarding T5_103F Template, where should we place the SL after our order has been triggered (break of 38,2 or 76,4 %) ?
As I can see on the charts eg EUR/USD, sometimes it will take some time to reach the 47 pips target and price is going in the opposite direction first.

Many thanks.

Regards,
Peter
  • #131
  • Sep 30, 2013 5:15am Sep 30, 2013 5:15am
Quoting hollowhead
Hi Aebab - on Template 220, where should price have come from before breaking 61.8% and 38.2%? Thanks
for 90% of the templates , the rule remains the same
Learn to walk before you run
  • #132
  • Sep 30, 2013 5:18am Sep 30, 2013 5:18am
Bobi

Do you have templates smaller than 103 if so can you please post.

Thanks
  • #133
  • Sep 30, 2013 5:21am Sep 30, 2013 5:21am
Quoting Forex Lion
Hi Aebab, interesting view on the market. I do have one question regarding T5_103F Template, where should we place the SL after our order has been triggered (break of 38,2 or 76,4 %) ? As I can see on the charts eg EUR/USD, sometimes it will take some time to reach the 47 pips target and price is going in the opposite direction first. Many thanks. Regards, Peter
For me , I do not put stop loss . I use hedging. As I am sure that if break happens in T5_103F , price should reach the target for sure. So if a break happens and can not reach the target and reverse , my opposite order (hedge order) will be activated and after taking profit of my hedge orders , I am sure the market will be back and will take my target where break was failed. wherever I use F ending the name of the templates , I mean it may fail.
Learn to walk before you run
  • #134
  • Edited 5:41am Sep 30, 2013 5:25am | Edited 5:41am
Quoting light786
Bobi Do you have templates smaller than 103 if so can you please post. Thanks

yes I have . But really useless. How you wanna take pips for 50 pips templates in length?!
Anyway , I will show you how to use some of templates for short term later.
Learn to walk before you run
  • #135
  • Sep 30, 2013 5:40am Sep 30, 2013 5:40am
That will be great looking forward to it.

Thanks
  • #136
  • Sep 30, 2013 5:41am Sep 30, 2013 5:41am
Quoting aebab
{quote} For me , I do not put stop loss . I use hedging. As I am sure that if break happens in T5_103F , price should reach the target for sure. So if a break happens and can not reach the target and reverse , my opposite order (hedge order) will be activated and after taking profit of my hedge orders , I am sure the market will be back and will take my target where break was failed. wherever I use F ending the name of the templates , I mean it may fail.
It would be really helpful to know where you place the hedge order for each template - knowing where the fail point is is critically important to be able to test/trade the principles.
  • #137
  • Sep 30, 2013 6:14am Sep 30, 2013 6:14am
Quoting aebab
{quote} Its clear . Please notice , the rule says : We can say 38.2% is broken when price is traveling from 76.4% of lower phase and rises 7 pips above 38.2% level of current phase. We can say 61.8% is broken when price is traveling from 23.6% of upper phase and falls 7 pips below 61.8% level of current phase. When price is traveling from upper phase and has already met 23.6% level of upper phase , means we have a downtrend and 61.8% is the key to be broken. But when price is traveling from lower phase and has already met 76.4% of lower phase, means...
Thank you Boby for your explaination. I am understand now.

GBU

~regards~
  • #138
  • Edited 8:43am Sep 30, 2013 6:35am | Edited 8:43am
Quoting hollowhead
{quote} It would be really helpful to know where you place the hedge order for each template - knowing where the fail point is is critically important to be able to test/trade the principles.
Actually I think I have worked it out. Current example would be.

GBP USD - Template 103

Price has come from 76.4% and broken 38.2% by 7 pips, therefore you would be long with a TP 47 pips away.
Hedge order would be at the 61.8% (lower phase) which would lead to a 92(ish) pip lock. Am I anywhere near right?
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.jpg Size: 67 KB


EDIT - Then again, I am wondering about price crossing back under 100% as mentioned in template 220 rules - does this apply to all templates?
  • #139
  • Sep 30, 2013 6:41am Sep 30, 2013 6:41am
The best way i have found in testing support and resistance levels is by using divergence. Divergence is a great tool for judging the strength of a potential reversal.
  • #140
  • Sep 30, 2013 10:04am Sep 30, 2013 10:04am
I took the GU long trade from 38.2%on the T5_103F - and it reached TP at 76.4% and is now pulling back - uncanny. Thanks Bobi.
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