Are support and resistance levels predetermined? | Page 16 | Forex Factory

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Are support and resistance levels predetermined?

  • #301
  • Oct 10, 2013 9:24am Oct 10, 2013 9:24am
Quoting hollowhead
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?
Level of Protection: We will call PROTECTION LEVEL, to the next level validated level prices.
Protection Zone: The range from the validated level, the level of protection.
It may be a different level to 23.6-38.2
  • #302
  • Oct 10, 2013 9:55am Oct 10, 2013 9:55am
DAX
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  • #303
  • Oct 10, 2013 10:18am Oct 10, 2013 10:18am
I Bobi, first of all I wish to say thank you to be again whit us....I'm still using Abonacci System as main "tool" in my decision routine opening a trade.
I don't know if u remember me since September 2010 chat-room studying swirl and gates trading.

I'm now studying you amazing new templates and have a question about T4F template, as for your post, in GOLD chart example the "opposite target" should not have been 76.4% instead of 61.8% ?

Rule:When price falls below 61.8% , or rises above 38.2% , it should continue to reach 23.6% or 76.4% respectively

Thank you.

Quoting aebab
it should not fall below 100% level. If happens , trend is changed and it will reach to opposite target. See the picture to instil.
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  • #304
  • Oct 10, 2013 4:54pm Oct 10, 2013 4:54pm
Quoting taypot
{quote} 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?
There are two 'rules' that coincide with EURUSD target of 1.3658/1.3660 on two of the more accurate templates. See my screenshot of a phase of each template showing trades in bold. So this should go up to meet this target as T4_680 'never fails'! Wow !
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  • #305
  • Oct 10, 2013 11:01pm Oct 10, 2013 11:01pm
hello Mr babi aboonachi.

very good idea & theory.

could you please share with us base line T103 for EU from 2008-2013. i want to backtest. so that we could know your theory is valid or not.

thank you.
  • #306
  • Oct 11, 2013 1:52am Oct 11, 2013 1:52am
From now on, I will present tickets to go analyzing the system back testing
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  • #307
  • Oct 11, 2013 2:59am Oct 11, 2013 2:59am
Quoting jmss59
From now on, I will present tickets to go analyzing the system back testing {image}
This is great, I took the break of 1.13539 on the t4y_680 template (see my figures in post above) for eurusd and have just closed most of the trade in profit. It went completely against the grain to buy at that moment but wow it worked and there was a strong break to the upside. Now I will leave the rest to run to T4Y_680 target at 13660.

Looking forward to seeing more of your work JMSS.
  • #308
  • Oct 11, 2013 3:03am Oct 11, 2013 3:03am
Quoting whaka
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
Hi
In abonacci system we are not talking about time-frame . So if you want to know exactly where the market is moving , you should be able to analyze in longterm templates and take decision in short-term templates . T4F and T5_103F are suitable for you.
Learn to walk before you run
  • #309
  • Oct 11, 2013 3:07am Oct 11, 2013 3:07am
Quoting plkdtm
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
1- Yes thats T5_103F
2- The rules applies when price is moving either up or down phase and we can not take any trade when its moving inside the phases.
In these situations ,the best tools would be monthly templates like T4,T3,T5_103F,T4Y
Learn to walk before you run
  • #310
  • Oct 11, 2013 3:09am Oct 11, 2013 3:09am
Quoting mohammad_777
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? {image}
No. As you know I have named the template as F and you know it may fail. But the difference between T4F and T5_103F is that in 90% of the times missed targets are filled. If you want to be a successful trader you should be able to know where the market is heading for in long-term or medium term.
Learn to walk before you run
  • #311
  • Oct 11, 2013 3:12am Oct 11, 2013 3:12am
Quoting Saetta_FX
I Bobi, first of all I wish to say thank you to be again whit us....I'm still using Abonacci System as main "tool" in my decision routine opening a trade. I don't know if u remember me since September 2010 chat-room studying swirl and gates trading. I'm now studying you amazing new templates and have a question about T4F template, as for your post, in GOLD chart example the "opposite target" should not have been 76.4% instead of 61.8% ? Rule:When price falls below 61.8% , or rises above 38.2% , it should continue to reach 23.6% or...
Hi
Yes I remember you . Thank you.
Oh, I am sorry , yes you are right . it should 76.4% . But I forgot to say when we add multiplication for the template (2200 instead of 220 , 22000 instead of 2200) its better to take 61.8 as target. Thanks for your keen comment .
Learn to walk before you run
  • #312
  • Edited 3:36am Oct 11, 2013 3:21am | Edited 3:36am

Where the market is going to hit?

The market (EUR/USD) is going to hit 1.3624 . Be careful about the reversal area at 1.3624+21=1.3645 as the market may reverse there . I have long positions from 1.3500 and 1.3488 and may TPs are set at 1.3624. If the area is broken , then market will hit 1.3705 then 1.3798 and ... you should know better by long-term templates!
If you have been following my trades in another thread , you would have seen my comment that whenever price moves above 1.3521 , then it should reach 1.3571 http://www.forexfactory.com/showthre...75#post6974575

Have nice trades
Learn to walk before you run
  • #313
  • Oct 11, 2013 3:42am Oct 11, 2013 3:42am
Quoting aebab
Where the market is going to hit? The market (EUR/USD) is going to hit 1.3624 . Be careful about the reversal area at 1.3624+21=1.3645 as the market may reverse there . I have long positions from 1.3500 and 1.3488 and may TPs are set at 1.3624. If you have been following my trades in another thread , you would have seen my comment that whenever price moves above 1.3521 , then it should reach 1.3571 http://www.forexfactory.com/showthre...75#post6974575 Have nice trades
Thanks for all your brilliant work Bobi but I am a little confused now. The T5_965 has the 21 break figure but I don't see 1.3624 as a figure on that. So I must have missed something or made a mistake. Which of the templates on this thread would give the rule and reversal figure of 13624+21. I don't have the calculator on the other thread and am setting up excel with all the templates on this thread.

Any help greatly appreciated and i am enjoying my current profitable trades thanks to your direction.
  • #314
  • Oct 11, 2013 4:33am Oct 11, 2013 4:33am
finally reaches the tp price proposed +42 pips
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  • #315
  • Oct 11, 2013 4:56am Oct 11, 2013 4:56am
Quoting jmss59
finally reaches the tp price proposed +42 pips {image}
Well done JMSS, price is approaching 1.3584 on t5_103F which is a 'close long target' (47 pips up from 38.2% level 1.3537). I am going to take a little more profit off my spreadbet at that level.

Still confused about Bobi's last post --- any help anyone??? I don't have the calculator he mentions and the only template that has 21 pips break figure is the T5_965 and that doesn't have the figures of 1.3624 or 1.3645 as phases, fib levels or targets. I have all the figures for all the charts on this thread in excel and I cant find either figure.
  • #316
  • Oct 11, 2013 5:09am Oct 11, 2013 5:09am
Quoting taypot
{quote} Well done JMSS, price is approaching 1.3584 on t5_103F which is a 'close long target' (47 pips up from 38.2% level 1.3537). I am going to take a little more profit off my spreadbet at that level. Still confused about Bobi's last post --- any help anyone??? I don't have the calculator he mentions and the only template that has 21 pips break figure is the T5_965 and that doesn't have the figures of 1.3624 or 1.3645 as phases, fib levels or targets. I have all the figures for all the charts on this thread in excel and I cant find...
I think as Bobi mentions his trades in another thread, he is referring to something not mentioned in this thread. It's the one confusing thing here, trying to work out which template is being referred to, and whether it's one mentioned here.
  • #317
  • Oct 11, 2013 5:26am Oct 11, 2013 5:26am
Quoting taypot
{quote} There are two 'rules' that coincide with EURUSD target of 1.3658/1.3660 on two of the more accurate templates. See my screenshot of a phase of each template showing trades in bold. So this should go up to meet this target as T4_680 'never fails'! Wow ! {image}
I agree Hollowhead. From the 'rules' and templates presented here on this thread (unless I have made a mistake in excel) then the target in my post quoted here is valid as this template 'never fails'. There are 208 pages on the other thread and Bobi is using slightly different baseline figures for this thread that are based on his new findings.
  • #318
  • Oct 11, 2013 5:28am Oct 11, 2013 5:28am
Quoting taypot
{quote} I agree Hollowhead. From the 'rules' and templates presented here on this thread (unless I have made a mistake in excel) then the target in my post quoted here is valid as this template 'never fails'. There are 280 pages on the other thread and Bobi is using slightly different baseline figures for this thread that are based on his new findings.

I did take a look at the other thread, and decided it would just confuse me (which isn't hard to do). So I'm working on if it's not here, I'm ignoring it.

Good trading to you.
  • #319
  • Oct 11, 2013 5:39am Oct 11, 2013 5:39am
Wooooow,i am thrilled coming across this thread. I am just newbie trina learn Forex trading so i have develop the attitude researching,reading. I think this strategy of trading will help me a lot so i have subscribed to it. But my biggest problem is i dont understand half of things discussed in here. Please can anybody in here get me the details ? I have read most of the threads from the first page to the last one page trust me , there is i do get. Thanks in advance for your willingness to help me out. We are all here to learn from each other.
  • #320
  • Oct 11, 2013 5:57am Oct 11, 2013 5:57am
Quoting hollowhead
{quote} I did take a look at the other thread, and decided it would just confuse me (which isn't hard to do). So I'm working on if it's not here, I'm ignoring it. Good trading to you.
Yes, agreed, me too.... so i have posted on that thread asking for help. I have searched that thread for these figures but the search box is useless, it doesn't even find Bobi's post with the actual figures in.
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