Are support and resistance levels predetermined? | Page 23 | Forex Factory

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Are support and resistance levels predetermined?

  • #441
  • Nov 4, 2013 2:18am Nov 4, 2013 2:18am
hi bobi ,
please share template 3 and template 4y baseline for november 2013
thanks
  • #442
  • Nov 4, 2013 3:47am Nov 4, 2013 3:47am
Quoting taypot
{quote} Hi Hollowhead, Can I just check with your records. EURUSD is 13491 at the moment. If it drops to f5 on T4Y_680 which is 13480 and then falls a further 59 pips to 13421 which is a break of f5, that is when we short for a target of 120 pips down to f2 which is 13300. ???
Hi Taypot - I had looked at that previously and I think the answer is no. The rules for a short are that price should have travelled from 0% +59pips, which is 1.3879, but price has only come from 1.38318 on 25 Oct.

If price pushes up to reach its T5_1030 TP of 1.39759 and then drops pass the 50%, then we will have a valid T4Y_680 break.
  • #443
  • Nov 4, 2013 3:52am Nov 4, 2013 3:52am
Quoting kamran 1984
hi boby how many pips is called breaks for this template T4F?
10 pips
  • #444
  • Nov 4, 2013 3:59am Nov 4, 2013 3:59am
T103 has violated to the downside so we should be expecting to see 1.3411... this also violates template 680 which had a target of 1.33...

to the upside we can break 1.3537 +7 to hit 3585 first... but lets see... eyes on shorting still...
  • #445
  • Nov 4, 2013 4:05am Nov 4, 2013 4:05am
Quoting Magnat
{quote} I think that templates should work together. I have experience with T4 and T3 since the Bobi begin posting them. And I see, that the main turning point take place then both levels in both templates was important according rules. Now I think price must touch 3149-7pips on T5-103 and 3189-47pips last time price reversed on T5-1030 at 61,8-47 pips.
Hi Magnat, I only know about the templates in this thread. I agree the templates should work together in the same way that traditional trends on differing TFs work together (a downtrend on the 15m can be a pullback on an uptrend on the daily etc). Yes price should hit the 23.6 on the T5_103 to complete that signal, T5_103 can fail, and so I guess can go a lot further up before falling to complete it.

Price did reverse on the T5_1030 at the 61.8, but according to rules I think price must eventually go further north to reach 76.4 (1.39759).
  • #446
  • Nov 4, 2013 4:08am Nov 4, 2013 4:08am
Quoting jaylovin
...this also violates template 680 which had a target of 1.33... to the upside we can break 1.3537 +7 to hit 3585 first... but lets see... eyes on shorting still...

Hey jaylovin

The rules for a short are that price should have traveled from 0% +59pips, which is 1.3879, but price has only come from 1.38318 on 25 Oct, so I don't think it's a valid 680 signal. If price pushes up to reach its T5_1030 TP of 1.39759 and then drops pass the 50%, then we will have a valid T4Y_680 break.[/quote]
  • #447
  • Nov 4, 2013 4:12am Nov 4, 2013 4:12am
Quoting hollowhead
{quote} Hey jaylovin The rules for a short are that price should have traveled from 0% +59pips, which is 1.3879, but price has only come from 1.38318 on 25 Oct, so I don't think it's a valid 680 signal. If price pushes up to reach its T5_1030 TP of 1.39759 and then drops pass the 50%, then we will have a valid T4Y_680 break.
[/quote]agree... however my post was referring to short term moves

at the moment if you look at T103... we broke below 3458 which indicates a 47 pip move down to 3411... this also causes a breakout from T680 where 3480+59pip = 3414 becomes violated
  • #448
  • Nov 4, 2013 4:22am Nov 4, 2013 4:22am
Quoting hollowhead
{quote} Hi Taypot - I had looked at that previously and I think the answer is no. The rules for a short are that price should have travelled from 0% +59pips, which is 1.3879, but price has only come from 1.38318 on 25 Oct. If price pushes up to reach its T5_1030 TP of 1.39759 and then drops pass the 50%, then we will have a valid T4Y_680 break.
Ah, in that case I think I have interpreted the rules differently...
Here are the rules for T4y_680 (I thought the 59 pips break down from 0% only related to the f76.4% and NOT the f50% and I thought it meant that a break of 59 pips from f50% only..

RULES... taken from previous post

RULE: Break of 23.6% Level -------> Target 50% , Break is 14 pips. Profit=180 pips.


Break of 50% Level -------> Target 76.4 , Break is 59 pips. Profit=120 pips.

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 76.4% is broken when price is traveling from 0%+59 of upper phase and falls 14 pips below 76.4% level of current phase.
  • #449
  • Nov 4, 2013 4:32am Nov 4, 2013 4:32am
Quoting taypot
{quote} Ah, in that case I think I have interpreted the rules differently... Here are the rules for T4y_680 (I thought the 59 pips break down from 0% only related to the f76.4% and NOT the f50% and I thought it meant that a break of 59 pips from f50% only.. RULES... taken from previous post RULE: Break of 23.6% Level -------> Target 50% , Break is 14 pips. Profit=180 pips. Break of 50% Level -------> Target 76.4 , Break is 59 pips. Profit=120 pips. We can say 23.6% is broken when price is traveling from 100%-59 pips of the phase and rises 14 pips...
I was just checking the rules myself. I had interpreted that a break of the 50% was a continuation trade and should follow a previous valid signal trade from the 23.6/76.4. You could be right though and the break of 50% is valid in its own right.

Bobi - we need you!!
  • #450
  • Nov 4, 2013 4:39am Nov 4, 2013 4:39am
Quoting hollowhead
{quote} I was just checking the rules myself. I had interpreted that a break of the 50% was a continuation trade and should follow a previous valid signal trade from the 23.6/76.4. You could be right though and the break of 50% is valid in its own right. Bobi - we need you!!
Thanks for the reply, I think I may be right so I am hoping Bobi pops back to clarify a few things too.
  • #451
  • Nov 4, 2013 5:00am Nov 4, 2013 5:00am
Quoting taypot
{quote} Thanks for the reply, I think I may be right so I am hoping Bobi pops back to clarify a few things too.
You may well be right - the only thing that makes me doubt is that in the chart example on post no. 207, bobi says 'Buy again at 50% break', that's what makes me think it could be a continuation...
  • #452
  • Edited 9:52am Nov 5, 2013 3:01am | Edited 9:52am
hi hollowhead
i have not the baseline T5 2-2 (965 pip)for eur jpy
plz share it
thanks alot
  • #453
  • Nov 5, 2013 10:34am Nov 5, 2013 10:34am
Quoting hollowhead
{quote} You may well be right - the only thing that makes me doubt is that in the chart example on post no. 207, bobi says 'Buy again at 50% break', that's what makes me think it could be a continuation...
Yes thankyou, I see exactly what you mean, now I think you are right and it is a continuation. I need to alter my spreadsheet until Bobi clarifies.
  • #454
  • Nov 5, 2013 11:20am Nov 5, 2013 11:20am
Quoting kamran 1984
hi hollowhead i have not the baseline T5 2-2 (965 pip)for eur jpy plz share it thanks alot
Hi kamran - sorry missed your post.

All baselines bobi has shared are here.

Steve
  • #455
  • Nov 5, 2013 11:47am Nov 5, 2013 11:47am
Quoting hollowhead
{quote} {image}
Very good work,
Can someone give me the Baseline for usd/cad

Thank you
Enter Signature
  • #456
  • Nov 5, 2013 12:17pm Nov 5, 2013 12:17pm
Quoting asgha
{quote} Very good work, Can someone give me the Baseline for usd/cad Thank you
Hi asgha

We are totally dependent on gobi to give baselines - I'm afraid he hasn't given any for usd/cad.

Steve
  • #457
  • Nov 5, 2013 9:56pm Nov 5, 2013 9:56pm
Quoting hollowhead
{quote} Hi kamran - sorry missed your post. All baselines bobi has shared are here. Steve
thanks alot
  • #458
  • Nov 5, 2013 10:41pm Nov 5, 2013 10:41pm
Hi Aebab,

Can you pls tell is there any chance USD/CAD will come at a price of 0.9900 in future. If it come Pls mention in which week or month.
Thankyou very much in advance
Enter Signature
  • #459
  • Nov 6, 2013 3:54am Nov 6, 2013 3:54am
Hi,
Look now at 1130.
Look now at 680.
Look now at 594.
¿Aren't beautiful setups? Don't you think so ?
Next see the break up of 38.2 at 1.3537 +7 of the 103 tpl. and this will pull up 47 pips more...
I think euro it's going Up, as said by Bobi.
  • #460
  • Nov 6, 2013 4:05am Nov 6, 2013 4:05am
Quoting Egumektk
Hi, Look now at 1130. Look now at 680. Look now at 594. ¿Aren't beautiful setups? Don't you think so ? Next see the break up of 38.2 at 1.3537 +7 of the 103 tpl. and this will pull up 47 pips more... I think euro it's going Up, as said by Bobi.
Hi Egumektk, I'm not sure I am seeing what you see. I see a lot of bounces of the 50% fibs, but not sure how they fit with the rules. Can you post the setups with charts?

Steve
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