Are support and resistance levels predetermined? | Page 20 | Forex Factory

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Are support and resistance levels predetermined?

  • #381
  • Oct 23, 2013 12:23am Oct 23, 2013 12:23am
Quoting hollowhead
{quote} Agree - I will hold my GU shorts (but I think it may going higher first (1.633ish).
USD sell off means bullish for GU. If you think Gbp will appriciate against the Dollar, long the pair.
  • #382
  • Edited 11:44am Oct 23, 2013 12:38am | Edited 11:44am
Apologies - should not type when I first wake up - still half asleep and not reading properly.
  • #383
  • Oct 23, 2013 2:22am Oct 23, 2013 2:22am
Quoting hollowhead
Agreed . There is more than enough here to be profitable. All I hope is that Bobi will provide baselines for next year - everything else needed I think is contained in the thread. To encourage those reading and wondering if this works I have traded on a live account what Bobi has taught from the beginning of the thread - I have taken trades that go against all other instinct (and systems) and blindly followed trusting that price will reach the targets according to the rules. I have currently completed 21 trades with this system, won 18...
I congratulate you on your success. What I would like to ask of you since you seem to understand these charts is to go thru and explain how you are using all of them for your trades. I am finding them a bit confusing. I am not clear as to what happens once a target is hit on one chart. Or can you explain how you are using these ie, do you start with the 103 and look up in length? What about if a higher length target is hit and then what? Any help would be appreciated.
  • #384
  • Oct 23, 2013 2:41am Oct 23, 2013 2:41am
Quoting E-Money
{quote} I congratulate you on your success. What I would like to ask of you since you seem to understand these charts is to go thru and explain how you are using all of them for your trades. I am finding them a bit confusing. I am not clear as to what happens once a target is hit on one chart. Or can you explain how you are using these ie, do you start with the 103 and look up in length? What about if a higher length target is hit and then what? Any help would be appreciated.
Thanks E-Money, in short if you study the different templates for a pair you can get a sense of the flow and how they work together and within each other. The higher size templates tell you the long to mid trend and the lower ones give you entries/exits to take bites out of the trend (or counter-trend). I will try and post some charts with my current thinking on some GU trades I am currently in. Needless to say this will just be how I see it, and bobi may well correct me later on...
  • #385
  • Oct 23, 2013 2:58am Oct 23, 2013 2:58am
Hi hollwhead, My question is. Should the price level target and reach 23.6?
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  • #386
  • Oct 23, 2013 3:29am Oct 23, 2013 3:29am
Quoting jmss59
Hi hollwhead, My question is. Should the price level target and reach 23.6? {image}
Hi jmss - I don't think it has to. My understanding of rules for T4F is that price needs to have come from 23.6% of the upper phase, crossed the 100% (which it didn't) and broken the 61.8% by 10 pips.

Steve

PS - Look at EJ - it has recently done that on T5_103 & T4F
  • #387
  • Oct 23, 2013 3:40am Oct 23, 2013 3:40am
Quoting hollowhead
{quote} Hi jmss - I don't think it has to. My understanding of rules for T4F is that price needs to have come from 23.6% of the upper phase, crossed the 100% (which it didn't) and broken the 61.8% by 10 pips. Steve PS - Look at EJ - it has recently done that on T5_103 & T4F
Thanks for the reply. But Bobi in their explanations T4F_220 template does not specify that the money has to come from higher stages, says that if the price breaks the level spins and 100, then the opposite must reach level. Understand in this case be achieved if the level 23.6.
Thanks again for your input, it seems you're the only one who has a clear system.
  • #388
  • Oct 23, 2013 3:41am Oct 23, 2013 3:41am
Quoting hollowhead
AUDUSD. Took trade on break on reversal area on T5_594, set target (120pips) by T4Y_680 50% break confluence. EDIT - Please ignore any buy/sell lines on the charts - they are from another system I am testing on demo - I am trading Abonacci live on a non MT4 platform, but using MT4 to show charts. {image} {image}
I would appreciate it very much if you could let me know the the baseline for AUDUSD T5_594. I have searched the thread again and again. Thanks
  • #389
  • Oct 23, 2013 3:51am Oct 23, 2013 3:51am
Quoting chrisngch
{quote} I would appreciate it very much if you could let me know the the baseline for AUDUSD T5_594. I have searched the thread again and again. Thanks
Hi chrisngch, the baseline for aud-usd is T5_594 = 1.03580
  • #390
  • Oct 23, 2013 3:52am Oct 23, 2013 3:52am
Quoting jmss59
{quote} Thanks for the reply. But Bobi in their explanations T4F_220 template does not specify that the money has to come from higher stages, says that if the price breaks the level spins and 100, then the opposite must reach level. Understand in this case be achieved if the level 23.6. Thanks again for your input, it seems you're the only one who has a clear system.
You are right, bobi doesn't specify it in the rules about that post - if you read on a few pages I ask him several times about where price should have come from on the T4F and his response is

Quoting aebab
{quote} for 90% of the templates , the rule remains the same
He is referencing the rule of 23.8/76.4 of the previous phase - I've decided to apply that rule to all templates.
  • #391
  • Oct 23, 2013 4:00am Oct 23, 2013 4:00am
Quoting hollowhead
{quote} You are right, bobi doesn't specify it in the rules about that post - if you read on a few pages I ask him several times about where price should have come from on the T4F and his response is {quote} He is referencing the rule of 23.8/76.4 of the previous phase - I've decided to apply that rule to all templates.
Understood, as the universal rule will apply to all templates. Thanks again
  • #392
  • Oct 23, 2013 4:02am Oct 23, 2013 4:02am
Quoting jmss59
{quote} Understood, as the universal rule will apply to all templates. Thanks again
No problem - its hard working it all out when Bobi isn't around - hope he comes back soon...
  • #393
  • Oct 23, 2013 6:59am Oct 23, 2013 6:59am
Quoting jmss59
{quote} Hi chrisngch, the baseline for aud-usd is T5_594 = 1.03580
Thank you so much. Where did you get that number from? Do you have the baselines for other currency pairs?
  • #394
  • Oct 23, 2013 7:39am Oct 23, 2013 7:39am
Quoting chrisngch
{quote} Thank you so much. Where did you get that number from? Do you have the baselines for other currency pairs?
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  • #395
  • Oct 23, 2013 8:25am Oct 23, 2013 8:25am
Quoting hollowhead
{quote} {image}

Thanks again for the good work.
Happy pipping
  • #396
  • Oct 23, 2013 8:32pm Oct 23, 2013 8:32pm
Does anyone have the Baseline for EURJPY T5_594 (Reversal) ? Thanks
  • #397
  • Oct 24, 2013 1:39am Oct 24, 2013 1:39am
In a response by Bobi, he suggested that when price is moving up or down inside a phase on T5_103, we don't take a trade on that chart. He suggested that the best tools would be monthly templates like T4, T3 T4Y. Can someone tell me where to get the T4 and T3 templates. And if I can use the indicator Bobi gave us, what the paramers are? It would be much appreciated. Thank you.
  • #398
  • Oct 24, 2013 1:45am Oct 24, 2013 1:45am
Quoting E-Money
Does anyone have the Baseline for EURJPY T5_594 (Reversal) ? Thanks

I have read the thread many times and I am sure Bobi hasn't giventhe baselines for or EURJPY T5_594 - it would be great if he could.
  • #399
  • Oct 24, 2013 1:50am Oct 24, 2013 1:50am
Quoting E-Money
In a response by Bobi, he suggested that when price is moving up or down inside a phase on T5_103, we don't take a trade on that chart. He suggested that the best tools would be monthly templates like T4, T3 T4Y. Can someone tell me where to get the T4 and T3 templates. And if I can use the indicator Bobi gave us, what the paramers are? It would be much appreciated. Thank you.
E-Money - one of the confusions about this method and the thread is the references to templates on another thread. I decided not to look into the other thread for to reasons.
1. I think Bobi implies the templates and strategies he shares here are a development of what he did before.
2. I'm too lazy

But, looking at the names of the templates here, there are two T4Y templates (680 & 1130). Interestingly Bobi said these are the two he starts with, and said they are among the most reliable - so perhaps focus on those
  • #400
  • Oct 24, 2013 2:34am Oct 24, 2013 2:34am
Hi hollowhead, ask your opinion. Consider this possible operation failed? or maybe I forgot something and ought not go?
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