Are support and resistance levels predetermined? | Page 18 | Forex Factory

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Are support and resistance levels predetermined?

  • #341
  • Oct 14, 2013 11:14am Oct 14, 2013 11:14am
Hello to all

hi bobi

I'm looking for all templates And a question : Do you have an error template 3 In the month of October In reaching to 1.3664
  • #342
  • Oct 14, 2013 1:57pm Oct 14, 2013 1:57pm
Quoting fxiran
Hello to all hi bobi I'm looking for all templates And a question : Do you have an error template 3 In the month of October In reaching to 1.3664

Not sure what you mean by template 3 or what you mean by error or which pair you're looking at - can you explain more what your seeing - preferably with a chart.
  • #343
  • Oct 14, 2013 3:10pm Oct 14, 2013 3:10pm
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 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...
Thx Bobi, what about previous prediction:

Quoting aebab
{quote} Hi all Hope you have taken FOMC shoot up movement as we were expecting from start of the month . The best TP is 1.3516 and come out of the market . I am sure that 3710 will not be broken and as the first TP of our first short order was not filled , so I will go short at 1.3520 for low risk trading (high risk - SL is 1.3755) , stop loss is 1.3345 and TP1=1.3065 TP2=1.2797 and the will go short again at 1.2727 and stop loss is 1.2866 and TP=1.2360
I am watching still 1.3065 as a mid - term target, if it won't reach in this year, will it be valid for next year?
  • #344
  • Oct 15, 2013 1:37am Oct 15, 2013 1:37am
Quoting hollowhead
{quote} Not sure what you mean by template 3 or what you mean by error or which pair you're looking at - can you explain more what your seeing - preferably with a chart.
I'm looking for only EUR USD I think the price has broken the 1.3616 reached 1.3664 According to T3 And then the price has broken .1.3518 Down

Please see the below picture
Attached Image (click to enlarge)
Click to Enlarge Name: templet3.png Size: 54 KB
  • #345
  • Edited 2:54am Oct 15, 2013 2:28am | Edited 2:54am
Quoting fxiran
{quote} I'm looking for only EUR USD I think the price has broken the 1.3616 reached 1.3664 According to T3 And then the price has broken .1.3518 Down Please see the below picture {image}
HI Fxiran, T3 must be from the other thread and we haven't been introduced to it here. Seem to remember from a quick reading of first few pages of that thread that there was a T3 and T4 method of trading over there and a calculator.??
  • #346
  • Oct 15, 2013 8:15am Oct 15, 2013 8:15am
Quoting fxiran
{quote} I'm looking for only EUR USD I think the price has broken the 1.3616 reached 1.3664 According to T3 And then the price has broken .1.3518 Down Please see the below picture {image}
Hello fxiran, both targets will be reached on T3: phase 1 and phase -1 as october month has not concluded.

Regards.
  • #347
  • Oct 16, 2013 7:18am Oct 16, 2013 7:18am
Quoting fxiran
{quote} I'm looking for only EUR USD I think the price has broken the 1.3616 reached 1.3664 According to T3 And then the price has broken .1.3518 Down Please see the below picture {image}
fxiran, is it possible to share baseline and phase of your T3?

seems to be very accurate on your graphe

thanks a lot
  • #348
  • Oct 16, 2013 7:49am Oct 16, 2013 7:49am
Quoting hollowhead
Well what do you know - on Friday I was looking for opportunities in oil - I too two trades on the T5_103, 1 win, 1 loss. I also had a missed opportunity which would have won, but I screwed up the pending order and it didn't trigger. The loser was a late in the day long, which I closed at a small loss because I wasn't prepared to hold it over the weekend (shouldn't have taken it really if I wasn't prepared to hold it.). It gapped down over the weekend which would have taken out the SL I had, but what do you know, it the climbed and would have hit...
Well that was tough. I took an Oil short on the T5_103F as I said I would above - it didn't reach target and decided to hedge - so no SL. I set a pending long for the above phase, which got filled and completed - and then price reversed to try and fulfill the original phase - it had a few goes at it, but couldn't reach the TP, so I decided to close it for a 7 pips profit - I was getting nervous about impact of any US debt announcement.

So the hedging worked - but once the long was filled I was wetting myself wondering whether it was gonna come all the way back down again. Glad it's closed now!!

Just have an EJ long still open from a few days back on a cross of the 100% T4F.

Attached Image (click to enlarge)
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  • #349
  • Oct 16, 2013 8:04am Oct 16, 2013 8:04am
Hi Bobi

Have you noticed whether whether the probability of a phase being hit weakens over time if it has been completed a few times before. EG if price is ranging, a phase on the T5_103F may be completed a few times during the range period - is it like traditional S/R which tends to lose strength the more times it is broken.

Also, if a target is missed several times, by say 5-10 pips, do you close out early or figure it will hit eventually.

Thanks

Steve
  • #350
  • Oct 16, 2013 8:34am Oct 16, 2013 8:34am
Quoting hollowhead
Hi Bobi Have you noticed whether whether the probability of a phase being hit weakens over time if it has been completed a few times before. EG if price is ranging, a phase on the T5_103F may be completed a few times during the range period - is it like traditional S/R which tends to lose strength the more times it is broken. Also, if a target is missed several times, by say 5-10 pips, do you close out early or figure it will hit eventually. Thanks Steve
It has daily range that product? It's not the same level of protection - 7 points in the eur-usd pair in the template T5-103, this pair has a current daily range of 74 points - which for a product that has a daily range of 150 points or more
  • #351
  • Oct 16, 2013 9:05am Oct 16, 2013 9:05am
Quoting jmss59
{quote} It has daily range that product? It's not the same level of protection - 7 points in the eur-usd pair in the template T5-103, this pair has a current daily range of 74 points - which for a product that has a daily range of 150 points or more

Hi Jmss59 - I'm afraid I don't understand your point. Bobi's templates don't factor ATR/Daily range at all. I understand 7 points to be the amount a level needs to break on the T5_103 template - not sure what you mean by 'protection level'. I can understand why you may alter the size on the break by a percentage of ATR to allow for different pairs volatility - but I am trying to trade as Bobi describes. I've seen no end of very solid and valid systems get destroyed by people who haven't tested them add all sorts of indicators and new requirements - as they say, if it ain't broke, don't try fix it.
  • #352
  • Oct 16, 2013 9:43am Oct 16, 2013 9:43am
Quoting hollowhead
{quote} Hi Jmss59 - I'm afraid I don't understand your point. Bobi's templates don't factor ATR/Daily range at all. I understand 7 points to be the amount a level needs to break on the T5_103 template - not sure what you mean by 'protection level'. I can understand why you may alter the size on the break by a percentage of ATR to allow for different pairs volatility - but I am trying to trade as Bobi describes. I've seen no end of very solid and valid systems get destroyed by people who haven't tested them add all sorts of indicators and new requirements...
Hi Hollowhead, if you're right I'm customizing the system abonacci my way to operate, and that means changing some rules especially in and fixed me a lot in output volatility. The system has an accuracy extraordinary support and resistance, but for me there are clear operating rules. That's why I'm customizing the system abonacci
  • #353
  • Oct 16, 2013 9:58am Oct 16, 2013 9:58am
In the 4 graphics it looks like the price respects price levels
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  • #354
  • Oct 16, 2013 10:05am Oct 16, 2013 10:05am
Quoting jmss59
{quote} Hi Hollowhead, if you're right I'm customizing the system abonacci my way to operate, and that means changing some rules especially in and fixed me a lot in output volatility. The system has an accuracy extraordinary support and resistance, but for me there are clear operating rules. That's why I'm customizing the system abonacci

Understood
  • #355
  • Oct 17, 2013 4:33pm Oct 17, 2013 4:33pm
Attached Image (click to enlarge)
Click to Enlarge Name: EUR CAD.jpg Size: 149 KB
POSTMASTER
  • #356
  • Oct 17, 2013 4:37pm Oct 17, 2013 4:37pm
Attached Image (click to enlarge)
Click to Enlarge Name: EUR NZD.jpg Size: 150 KB
POSTMASTER
  • #357
  • Oct 17, 2013 11:18pm Oct 17, 2013 11:18pm
Quoting aebab
{quote} Yes you are right. But to say it has failed to complete its journey , price should fall 10 units below 100% level. For gold , each unit is 10$ and according to the FXPRO 100%=1299-10=1289 but price fell just to 1291. But according to template 103 , Gold should fall again.
Hello Bobi
Thank you so much for all your sharings since your old thread. Would be grateful if you could share the baseline for Gold in Template 103 so that I can continue to study and follow your ideas. Gold did drop after your prediction but now it has reversed into the upper phase in Template T4F_220 for gold. Thank you
  • #358
  • Oct 18, 2013 4:44am Oct 18, 2013 4:44am
Quoting chrisngch
{quote} Hello Bobi Thank you so much for all your sharings since your old thread. Would be grateful if you could share the baseline for Gold in Template 103 so that I can continue to study and follow your ideas. Gold did drop after your prediction but now it has reversed into the upper phase in Template T4F_220 for gold. Thank you
See post 257
  • #359
  • Oct 18, 2013 4:52am Oct 18, 2013 4:52am
nice so phase complete at 3694... Does 3440 have to hit also? as long as its within this month otherwise level is void.. 1.40 could be on the way looking at the monthly chart...
  • #360
  • Oct 18, 2013 8:48am Oct 18, 2013 8:48am
Quoting hollowhead
{quote} See post 257
Thank you very much
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