Are support and resistance levels predetermined? | Page 15 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Draw line with predetermined pip distance from the origin line 5 replies

Which platforms offer non-predetermined timeframes? 6 replies

Adjusting the colours of bar range indicator at predetermined values 4 replies

Is market action based on predetermined levels? 3 replies

Possible Support and Resistance Levels 1 reply

Attachments: Are support and resistance levels predetermined?
Exit Attachments

Are support and resistance levels predetermined?

  • #281
  • Oct 9, 2013 3:25pm Oct 9, 2013 3:25pm
Quoting taypot
{quote} Thanks Hollowhead, I think you are right. So far I have 103, 127, 220, 594, 680 and 965. I am trying to sort out baselines, break level pips, targets (23.3 break and 50% break) for each and what each may be best for. I didn't want a 193 as well at this stage!
I know, how does bobi look at 64 templates per instrument - I get confused with 5, on 4 pairs.
  • #282
  • Oct 9, 2013 4:18pm Oct 9, 2013 4:18pm
Quoting hollowhead
{quote} I think medium term EU is still bullish. According to TY4_1130 = broke 50% by 59 pips – therefore should reach 13742.7. FWIW, as we are nearing the end of the year the way I am looking to trade these templates is to only take trades templates higher than T4F in line with the TY4_1130 and T5_965 direction (which is bullish I think). I will take trend and countertrend trades on T4F and T5_103. but the TY4_1130 move needs to complete. EDIT Also, on the T5_594 price broke through the reversal area, has now come back and retested, maybe turning...
TY4_1130 50% +220 pips = 1.3438+220 = 1.3658 (-14pips =1.3645), target reached. How did you get 1.3742?
and it was not typo with 193
  • #283
  • Oct 9, 2013 4:22pm Oct 9, 2013 4:22pm

Magic of Abonacci Templates

New Concept in future analysis


Thank you for all replies.

Some days ago I replied FX_MANIAC that I will say why I have set 22000 to the gold template. Now its time to show you a new concept of trading. As I said before , I have found 64 different behaviors of the waves (any pairs). It does not matter what the market we are going to analyze. The 64 movements and behaviors can be found in all markets . For example , we can find 220 pips movement in any market. T5_103 as well. I have discovered that any phase length can be widened by multiplying the phase length by 10,100,1000,.... !!! Strange ?!
To understand what I mean , lets have a look at T5_103 on EUR/USD. set Length of the phase to 1030 instead of 103 and see what will be the result.
find the comment on the picture .

what do you think ? isn't it strange but useful?
By these tools , I promise no one can beat your analysis and you are always ahead of all predictions . Even you can plan for future if you want to invest in real market. Like buying physical gold and hold for future.
Attached Image (click to enlarge)
Click to Enlarge Name: 103_0.png Size: 55 KB
Learn to walk before you run
  • #284
  • Oct 9, 2013 5:00pm Oct 9, 2013 5:00pm
Quoting krishelis
{quote} TY4_1130 50% +220 pips = 1.3438+220 = 1.3658 (-14pips =1.3645), target reached. How did you get 1.3742? and it was not typo with 193

Yes, I have been puzzling over 1.3742 and agree with your figure of 1.3658, but why do you take off 14 pips, is this a stop?

Also, please put me out of my misery, why 193 template?
  • #285
  • Oct 9, 2013 5:08pm Oct 9, 2013 5:08pm
Aren't the 14 pips the needed confirmation for breaking of a level for that template ?
  • #286
  • Oct 9, 2013 5:10pm Oct 9, 2013 5:10pm
Quoting krishelis
{quote} TY4_1130 50% +220 pips = 1.3438+220 = 1.3658 (-14pips =1.3645), target reached. How did you get 1.3742? and it was not typo with 193
My mistake - schoolboy error . I mixed up my rules, as was working on it going to the 76.4%. S**t this can get confusing
Ignore anything I say from now on
  • #287
  • Oct 9, 2013 5:24pm Oct 9, 2013 5:24pm
Quoting Akh12851
Aren't the 14 pips the needed confirmation for breaking of a level for that template ?
No, thats the 680 template. There are different break figures for 1130 ...
  • #288
  • Oct 9, 2013 11:51pm Oct 9, 2013 11:51pm
hi,

i tried to find where 103 pips phases are explained for euro , yen and gbp but didn't succeed. can you point me to the right post please?


thanks a lot
  • #289
  • Edited 3:53am Oct 10, 2013 12:51am | Edited 3:53am
Quoting aebab
Magic of Abonacci Templates New Concept in future analysis Thank you for all replies. Some days ago I replied FX_MANIAC that I will say why I have set 22000 to the gold template. Now its time to show you a new concept of trading. As I said before , I have found 64 different behaviors of the waves (any pairs). It does not matter what the market we are going to analyze. The 64 movements and behaviors can be found in all markets . For example , we can find 220 pips movement in any market. T5_103 as well. I have discovered that any phase length can...

and I suppose that size of pips for breakout will *10 *100 *1000?

as I see 52 and 26 pips templates work same good
  • #290
  • Oct 10, 2013 5:04am Oct 10, 2013 5:04am
Hi aebab

Can you suggest which templates I should be using on a 4hr chart where I plan to take my entries from and also a template to use on the weekly mainly for trend direction.

Also do you have a naming convention for your templates. example what does T5 mean. Also some have numbers (baseline) in them and others don't.
So far I found these templates in the thread
T5-965
T5_594
T4F
T5_103F
T3
T4Y
T4F
T5_2_2
T5_1_103
T4Y_680
T4Y_1130
  • #291
  • Oct 10, 2013 5:42am Oct 10, 2013 5:42am
Quoting aebab
Magic of Abonacci Templates New Concept in future analysis Thank you for all replies. Some days ago I replied FX_MANIAC that I will say why I have set 22000 to the gold template. Now its time to show you a new concept of trading. As I said before , I have found 64 different behaviors of the waves (any pairs). It does not matter what the market we are going to analyze. The 64 movements and behaviors can be found in all markets . For example , we can find 220 pips movement in any market. T5_103 as well. I have discovered that any phase length can...
Wow - I love that. It's uncanny.

To check I've got this right looking at oil on using T5_1030, price has come from 23.6, broken the 61.8% by 70, and should go for 400 pips more.
Attached Image (click to enlarge)
Click to Enlarge Name: clx3-d1-fxpro-financial-services.png Size: 53 KB


Is that right?
  • #292
  • Oct 10, 2013 6:37am Oct 10, 2013 6:37am
Quoting hollowhead
{quote} Wow - I love that. It's uncanny. To check I've got this right looking at oil on using T5_1030, price has come from 23.6, broken the 61.8% by 70, and should go for 400 pips more. {image} Is that right?

Me too....I'm programming prorealtime with the levels and targets for 103 and its suffering from 'stack overload' (i know how it feels), I think adding the 0 might be the answer!!! I will be able to try this on individual stocks once its set up and backtest but problem is the baseline for each individual stock. only Bobi knows the calculation for this....
  • #293
  • Oct 10, 2013 6:47am Oct 10, 2013 6:47am
2 questions for t5_103 template:

1- shouldn't we say t5_103F because i found only t5_103F from aebab?

2- what should be the behaviour of price if price doesn't come from lower or upper phase when it break 38 or 61%? Sometime price just bounce from 100% so is the target still 47 pips (look at eurusd)?

thanks to help learning
  • #294
  • Oct 10, 2013 6:52am Oct 10, 2013 6:52am
hi bobi ,
in GBP/USD at template T5-103F ,price two time moved and breaked 1.4841 (68.1%) in the year and didn't reach to target , can we tell it is missing target and price should be seen it in future?
Attached Image (click to enlarge)
Click to Enlarge Name: 11.JPG Size: 256 KB
  • #295
  • Oct 10, 2013 6:59am Oct 10, 2013 6:59am
Quoting taypot
{quote} Me too....I'm programming prorealtime with the levels and targets for 103 and its suffering from 'stack overload' (i know how it feels), I think adding the 0 might be the answer!!! I will be able to try this on individual stocks once its set up and backtest but problem is the baseline for each individual stock. only Bobi knows the calculation for this....
I've used Prorealtime a bit in the past, but finding MT4 works ok for this, but I now have so many tabs/charts to monitor I need to create a system.

I'm wondering whether I can take '0's off and scalp
  • #296
  • Oct 10, 2013 7:24am Oct 10, 2013 7:24am
Graphic attached some operational rules DAX German
Attached Image (click to enlarge)
Click to Enlarge Name: rp2k.jpg Size: 354 KB
  • #297
  • Oct 10, 2013 7:35am Oct 10, 2013 7:35am
Quoting hollowhead
{quote} I've used Prorealtime a bit in the past, but finding MT4 works ok for this, but I now have so many tabs/charts to monitor I need to create a system. I'm wondering whether I can take '0's off and scalp
Yes I use MT4 too but I can't program that, however its good for demo trades. I can program in level breaks and targets on PRT and this is for my live trades. Excel is good too as all the numbers on all the templates are related in a constant way and its interesting to see the relationships. I am trying to stick to Bobi's templates and not add additional ones that haven't been mentioned by him in this thread but PRT (supplied by Hargreaves) is playing up terribly at the moment. I've just sent off an email to support. I'm hoping once I have sorted out the relationships between templates in excel I can build up to max 3 charts per currency (according to T3,T4 or T5) and do away with numerous tabs. I'm concentrating on EURUSD but not trading yet, only programming and watching price action. I have to say I'm impressed!

I think JMSS is providing good input if you want to scalp, using the daily pivot as baseline and smaller number templates according to daily range. i want to backtest that system too in PRT. Looks good! Taking off the 0 would not help you with break level figures (ie you cant take 0 off 7)
  • #298
  • Oct 10, 2013 7:35am Oct 10, 2013 7:35am
graphic eur-usd
Attached Image (click to enlarge)
Click to Enlarge Name: i4i0.jpg Size: 281 KB
  • #299
  • Oct 10, 2013 7:48am Oct 10, 2013 7:48am
Thanks for the charts - so is the 23.6%-38.2% area always the protection zone? And you set baseline by daily pivot - which timezone, as they all have slightly different pivot numbers - where do you find yours?
  • #300
  • Oct 10, 2013 9:10am Oct 10, 2013 9:10am
So quick update, I was short on the EJ using the T4F template. Price went above the 100% mark, so I closed at a loss and have opened a long targeting the 23.6%.
Hope that's right.

I've never hedged before and need to get my head around that before I use it.

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-h1-fxpro-financial-services-3.png Size: 68 KB
1 trader viewing now