Are support and resistance levels predetermined? | Page 24 | Forex Factory

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Are support and resistance levels predetermined?

  • #461
  • Nov 6, 2013 2:23am Nov 6, 2013 2:23am
Quoting hollowhead
Now for my GU trades - this has been quite confusing and frustrating. None of these were using a SL, but rather using opposing signals to hedge. Sorry there are no charts at the moment - I will post an analysis once it is all played out, but the trades are on several templates and will take a while for me to annotate etc. Trade 1. On 16 Oct I had a successful T5_103 short from 1.5968 Trade 2. I then went short on a T4F at 1.5895 through a pending order being triggered by 2 pips and then reversing (I should have checked this better first as the target...
Got one T5_103 on the way back up. When everyone is screaming GU is going to drop like a stone - it goes up again!! My faith in this system just keeps getting stronger (I use the word faith because I don't understand it, yet I think I believe it! Pre-determined levels - everything in me says that can't be right, and yet, to date it seems to operate that way).

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-T5_103-061113.png Size: 17 KB
  • #462
  • Nov 6, 2013 5:29am Nov 6, 2013 5:29am
this is no way come from bobi.. iam just experimenting and you should also do the same if you wish to use it but give 1.3490 base line a try for t3...
  • #463
  • Nov 6, 2013 9:19pm Nov 6, 2013 9:19pm
Dear Bobi
first of all i wanna say "I REALLY LOVE YOUR DIVINE SYSTEM" which tells us the major rule every trader needs that : " this is the chart that makes the news NOT the news make the chart".
you know here are 2 irrelevant question below. excuse me please but i dont know any body at your information level:
1.is there any major difference between the price in ECN and STP accounts and currenex platforms????
2.how can i be sure that an account the broker introduces is not market maker ????
thanks a lot
  • #464
  • Nov 7, 2013 8:10am Nov 7, 2013 8:10am
Bobi forgot to post baselines.

Here they are:

T4Y_baseline=1.3503
T3=1.3618
  • #465
  • Nov 7, 2013 9:16am Nov 7, 2013 9:16am
Quoting krishelis
Bobi forgot to post baselines. Here they are: T4Y_baseline=1.3503 T3=1.3618
Thank you krish!

And thank you Bobi!
  • #466
  • Nov 7, 2013 9:50am Nov 7, 2013 9:50am
Quoting krishelis
Bobi forgot to post baselines. Here they are: T4Y_baseline=1.3503 T3=1.3618

Haha i was way off with mine.. Thanks!
  • #467
  • Nov 7, 2013 3:53pm Nov 7, 2013 3:53pm
Quoting krishelis
Bobi forgot to post baselines. Here they are: T4Y_baseline=1.3503 T3=1.3618
Hi, thanks for posting baselines. Is this T4Y_680 or T4Y-220 and can you tell me where to find out about T3 to save me searching the other thread.
  • #468
  • Nov 8, 2013 9:09am Nov 8, 2013 9:09am
FOR T5_103F Where I should put BUY STOP order when price cross the 76.4% of lower phase at that time or

When price arrived at 38.2% after travelling from 76.4% of lower phase. Pls someone guide me

Thanks in advance
Enter Signature
  • #469
  • Nov 8, 2013 11:12am Nov 8, 2013 11:12am
Quoting asgha
FOR T5_103F Where I should put BUY STOP order when price cross the 76.4% of lower phase at that time or When price arrived at 38.2% after travelling from 76.4% of lower phase. Pls someone guide me Thanks in advance
Hi asgha

For Longs
If Price has come from 76.4% of the lower phase set order to trigger when it crosses up over the 38.2% by 7pips (not sure if bobi adds spread as well)

For Shorts
If Price has come from 23.6% of upper phase, set order to trigger when it crosses down under the 61.8% by 7 pips.

Steve
  • #470
  • Nov 8, 2013 11:13am Nov 8, 2013 11:13am
Quoting taypot
{quote} Hi, thanks for posting baselines. Is this T4Y_680 or T4Y-220 and can you tell me where to find out about T3 to save me searching the other thread.
Taypot - I think it is for a T4Y template in another thread. All baselines for the templates in this thread are for the year.

Steve
  • #471
  • Nov 9, 2013 3:09am Nov 9, 2013 3:09am
Quoting hollowhead
{quote} Taypot - I think it is for a T4Y template in another thread. All baselines for the templates in this thread are for the year. Steve
Hi Steve,
Thanks again for coming to my aid, if I could vouch for you I would. I hadn't realised the baselines were for the year!
  • #472
  • Nov 9, 2013 4:19am Nov 9, 2013 4:19am
Quoting taypot
{quote} Hi Steve, Thanks again for coming to my aid, if I could vouch for you I would. I hadn't realised the baselines were for the year!
No problem - thanks for the 'head vouch'
  • #473
  • Nov 10, 2013 3:44am Nov 10, 2013 3:44am
Hi all

For those interested here is my anaylisis of last week action with a summary of where I think price is heading.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ analysis 101113.png Size: 60 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GU analysis 101113.png Size: 49 KB

Attached Image (click to enlarge)
Click to Enlarge Name: EU analysis 101113.png Size: 48 KB

Attached Image (click to enlarge)
Click to Enlarge Name: AU analysis 101113.png Size: 43 KB


I am currently long on EJ and GU. Both dropped a lot last week due to to news (I nearly had kittens when it went), but I caught a couple of short trades to take the edge of the DD.

EJ found support right in the middle of at two bullish TL crosses - might retest again, but am trading it to reach it's upper targets. The bearish looking trendline (going from upper left to lower right) is actually resistance turned bearish support.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-TL crosses 101113.png Size: 16 KB


GU dropped as well, everyone on the cable thread seems to be screaming short (as they have for months), but I am trading it long to keep rising to at least 1.64
  • #474
  • Nov 10, 2013 5:36am Nov 10, 2013 5:36am
Jaylovin,
Your baseline prediction was one pip off, 1.3490 +127= 1.3617. Well done
  • #475
  • Nov 10, 2013 9:20pm Nov 10, 2013 9:20pm
Quoting hollowhead
Hi all For those interested here is my anaylisis of last week action with a summary of where I think price is heading. {image} {image} {image} {image} I am currently long on EJ and GU. Both dropped a lot last week due to to news (I nearly had kittens when it went), but I caught a couple of short trades to take the edge of the DD. EJ found support right in the middle of at two bullish TL crosses - might retest again, but am trading it to reach it's upper targets. The bearish looking trendline (going from upper left to lower right) is actually resistance...
E/U: T4F(220) moved above 100% so - bullish 1.3597
  • #476
  • Nov 11, 2013 2:15am Nov 11, 2013 2:15am
Quoting krishelis
{quote} E/U: T4F(220) moved above 100% so - bullish 1.3597
True. As it has come back below the 100%, I am leaning on it completing the sell target and then at some point reversing and then completing the reversal target (1.3597) on the way up in the longer term target for T4Y_1130.
  • #477
  • Nov 11, 2013 2:18am Nov 11, 2013 2:18am
Quoting sanaie7514
the major rule every trader needs that : " this is the chart that makes the news NOT the news make the chart".
this is so wrong and you should feel wrong.
back... and more dangerous.
  • #478
  • Nov 11, 2013 2:34am Nov 11, 2013 2:34am
Quoting kbp
{quote} this is so wrong and you should feel wrong.

I agree - the chart cannot 'make the news' - I would say that news is neutral for the mid to long-term direction. It may cause a surge or a brief pullback - but news in itself just creates noise.
  • #479
  • Nov 11, 2013 3:22am Nov 11, 2013 3:22am
Quoting hollowhead
{quote} True. As it has come back below the 100%, I am leaning on it completing the sell target and then at some point reversing and then completing the reversal target (1.3597) on the way up in the longer term target for T4Y_1130.

So I expect the 61.8% may hold before moving higher. Whenever that is.
  • #480
  • Nov 11, 2013 4:10am Nov 11, 2013 4:10am
Quoting jaylovin
{quote} So I expect the 61.8% may hold before moving higher. Whenever that is.
I think so, it did complete that sell trade on the 7 Nov, and got to the 23.6% again (not the full 40 pip target though) second time around I'm not sure whether there is any rule or observation about repeating trades within a phase - ie is the second sell signal as strong as the first?

Having said all that, it is an 'f' template so it can fail...
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