Are support and resistance levels predetermined? | Page 12 | Forex Factory

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Are support and resistance levels predetermined?

  • #221
  • Oct 8, 2013 1:27am Oct 8, 2013 1:27am
Quoting mohammad_777
We can say 61.8% is broken when price is traveling from 0%+59 of upper phase and falls 42 pips below 76.4% level of current phase 76.4 is broken or 61.8 ? (in bothT4Y_1130 and T4Y_680)

not clear for me too.

it should be good to write all rules for bull and bear direction and for each fibo levels.

I'm an intraday trader, so i will use 680 for longer term view and 220 or 103 pips phases. But when i look at 680 pips template we are above 61% and we come from lower phase. So what's my next target, is it 76.4% or should i look for a reverse?
thanks for your patience with a newcomer
  • #222
  • Edited 7:05am Oct 8, 2013 2:05am | Edited 7:05am
Quoting aebab
We can say 23.6% is broken when price is traveling from 100%-59 pips of the phase and rises 14 pips above 23.6% level of current phase.

We can say 61.8% is broken when price is traveling from 0%+59 of upper phase and falls 14 pips below 76.4% level of current phase.

The baseline and the template are valid for whole the year.
i think it should be " we can say 76.4% is broken" ?


===========================================

Dear bobby,

- if you use 'F' ending the name of the templates , you said that it means it may fail... so what is " Y " mean? and what is mean if you did not put 'F' or 'Y' ending the name of the templates?

thanks very much
  • #223
  • Oct 8, 2013 2:42am Oct 8, 2013 2:42am
Quoting plkdtm
{quote} not clear for me too. it should be good to write all rules for bull and bear direction and for each fibo levels. I'm an intraday trader, so i will use 680 for longer term view and 220 or 103 pips phases. But when i look at 680 pips template we are above 61% and we come from lower phase. So what's my next target, is it 76.4% or should i look for a reverse? thanks for your patience with a newcomer


hi plkdtm , all rule is good, i don't any problem with these rules and traiding , you should be patient because some template is long term and some is dhort term
  • #224
  • Oct 8, 2013 3:32am Oct 8, 2013 3:32am
so to be clear.

I'm intraday trader. Which template do i have to use?

680 for 4h charts?
220 for 1h?
103 for 15 minutes charts? i'm very often on this one.

Do i need another template or i'm wrong with that?
  • #225
  • Oct 8, 2013 3:48am Oct 8, 2013 3:48am
Quoting aebab
Abonacci Templates for EUR/JPY T4F, Phase Length=220 pips Baseline=125.8 T5_2_2, Phase Length=965 pips Baseline=549 T5_1_103, Phase Length=103 pips Baseline=131 Note: Please use the new Abonacci indicator to be able to generate more phases {file}

Hey Bobi - thanks for EUR/JPY numbers - can you post the 594 baseline for this pair as well please. Thanks
  • #226
  • Oct 8, 2013 5:30am Oct 8, 2013 5:30am
In the intraday, the break of a level is confirmed when the candle closing level exceeding 5 pips. If the candle closes within 5 pips is not worth the break
Attached Image (click to enlarge)
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  • #227
  • Oct 8, 2013 6:11am Oct 8, 2013 6:11am
Hi Bobi, excellent your job. I would like to ask a question. Is it possible to install two templates with the same baseline but different size, in the same graph? Thanks
  • #228
  • Oct 8, 2013 6:20am Oct 8, 2013 6:20am
Can someone give eurusd 103 pips phase baseline?

thanks a lot
  • #229
  • Oct 8, 2013 6:22am Oct 8, 2013 6:22am
Quoting jmss59
Hi Bobi, excellent your job. I would like to ask a question. Is it possible to install two templates with the same baseline but different size, in the same graph? Thanks
Have you tried duplicating the indicator and giving them different names. Then install the templates as the two separate indicators?
  • #230
  • Oct 8, 2013 6:22am Oct 8, 2013 6:22am
Quoting plkdtm
Can someone give eurusd 103 pips phase baseline? thanks a lot
1.3189
  • #231
  • Oct 8, 2013 6:29am Oct 8, 2013 6:29am
thanks a lot
  • #232
  • Oct 8, 2013 6:34am Oct 8, 2013 6:34am
Quoting hollowhead
{quote} Have you tried duplicating the indicator and giving them different names. Then install the templates as the two separate indicators?
Yes, but I can not install 2 on the same chart. Not if Bobi has the answer. Thanks anyway
  • #233
  • Oct 8, 2013 6:46am Oct 8, 2013 6:46am
Quoting jmss59
{quote} Yes, but I can not install 2 on the same chart. Not if Bobi has the answer. Thanks anyway
Strange - I'm pretty sure I did.
  • #234
  • Oct 8, 2013 6:48am Oct 8, 2013 6:48am
Quoting hollowhead
{quote} Strange - I'm pretty sure I did.
Well, you can set the display so you can test renamed?
  • #235
  • Oct 8, 2013 6:56am Oct 8, 2013 6:56am
Quoting na_r2000
{quote} i think it should be " we can say 76.4% is broken" ?
Good question. Does it mean that next 61.8 level BELOWWILL be broken as price hasn't reached it if only 14 pips below 76.4 level? Is it a therefore strong sell signal ???
  • #236
  • Oct 8, 2013 6:59am Oct 8, 2013 6:59am
You're right - just tried again and it didn't work
  • #237
  • Oct 8, 2013 7:19am Oct 8, 2013 7:19am
Here's the gbp-usd pair with template intraday 89 pips, has completed a phase
Attached Image (click to enlarge)
Click to Enlarge Name: jg1n.jpg Size: 310 KB
  • #238
  • Oct 8, 2013 8:22am Oct 8, 2013 8:22am
Hi jmss59, what are your rules for entries?
  • #239
  • Oct 8, 2013 9:24am Oct 8, 2013 9:24am
Quoting earlroy63
Hi jmss59, what are your rules for entries?
I'm analyzing the levels at which the price has more probability of rotation. When I have a specific strategy will tell you.
  • #240
  • Oct 8, 2013 9:50am Oct 8, 2013 9:50am
The eur-usd to complete a move of 47 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 62lj.jpg Size: 329 KB
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