Are support and resistance levels predetermined? | Page 25 | Forex Factory

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Are support and resistance levels predetermined?

  • #481
  • Nov 11, 2013 7:56am Nov 11, 2013 7:56am
Hi, an answer

who will give us the 2014 baseline for T5 965?
  • #482
  • Nov 11, 2013 8:02am Nov 11, 2013 8:02am
Quoting armyda
Hi, an answer who will give us the 2014 baseline for T5 965?
Hi armyda. Only bobi can give baselines that have not already been given. Even he won't know the baselines for 2014, until the new year.

Steve
  • #483
  • Nov 11, 2013 8:17am Nov 11, 2013 8:17am
Thanks so much
  • #484
  • Nov 11, 2013 9:11am Nov 11, 2013 9:11am
Quoting hollowhead
{quote} Hi armyda. Only bobi can give baselines that have not already been given. Even he won't know the baselines for 2014, until the new year. Steve
sorry an other answer

in order to trade now T5 965 about AUD USD it come from 76.4 and breaks 50% is it correct to wait the price at 23.6%?
  • #485
  • Nov 11, 2013 9:27am Nov 11, 2013 9:27am
Quoting armyda
{quote} sorry an other answer in order to trade now T5 965 about AUD USD it come from 76.4 and breaks 50% is it correct to wait the price at 23.6%?
I'm sorry, I'm not quite sure what you are asking. The rules for T5_965 are

  1. For Longs - When price travels from below 23.6% and breaks 50% by 21 pips it will reach 76.8%
  2. For Shorts - When price travels from above 76.4% and breaks 50% by 21 pips it will reach 23.6%

Remember, just because the rules say it will reach the target (eventually), that doesn't mean it won't pullback 1000pips before doing it.

For what its worth, the way I am using the large templates (T4Y_1130 and T5_965 and T5_1030F) to give me a bias - where I think price is going in the future - but price doesn't travel in a straight line (look at my signature ).

I use the T5_594 template to show me where the trend might change and show major support/resistance levels

and I use the TF4_220 and T5_103F for trade entries and exits.

  • #486
  • Nov 11, 2013 9:43am Nov 11, 2013 9:43am
Bobi (or anyone else with an opinion)

When looking at T5_594, on AU, price has broken the long reversal zone and reached it's target and reversed without going into the next upper phase. Is the 50%-38.2% area now a support area? or does price need to have come from the upper phase?

Attached Image (click to enlarge)
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  • #487
  • Nov 11, 2013 10:08am Nov 11, 2013 10:08am
Sure but i think if breaks 38.2 the temlate change and from T% 594 goes to T5 965 and the target is 23.6 becouse come from 76.4(after breake 50%
  • #488
  • Nov 11, 2013 10:28am Nov 11, 2013 10:28am
Quoting armyda
Sure but i think if breaks 38.2 the temlate change and from T% 594 goes to T5 965 and the target is 23.6 becouse come from 76.4(after breake 50%
I am pretty sure the templates are not supposed to 'change' or move from one to another they stand in their own right and work within each other.

Think of the templates as giving signals for different length trends (or even timeframes).

If T5_965 says it is targetting a price, then trade in that direction using the lower size templates. You can use them to trade the pullbacks or add to a longer term positions. I would encourage you to think of them as stand alone trends and targets, but working together within each other - not moving from one to another.

One of the reasons I posted analysis across the templates was to show how I am thinking the templates work together to give an overall picture - that gives me a plan to trade for the week. I decide which pairs are giving the strongest signals in one direction and then trade the 220 or 103 in that direction, if it goes against me, I trade it the other way on small templates, because I am sure it is going to turn again to go in the original direction.

Please take this as just my opinion, without bobi's guidance we are all just trying to work it out.

I am not sure if I am responding to what you're saying, perhaps you could use some charts to explain what you're thinking.
  • #489
  • Nov 11, 2013 10:45am Nov 11, 2013 10:45am
i think that T5965 need in order to trade small lots because the drawdown trade in biger yours(T594) that are adapts for intraday trades with smaller drawdown
I thnk also that bobi should explane better wich temèlate is more convenient for position trade or day trade or scalp trade
  • #490
  • Nov 11, 2013 10:48am Nov 11, 2013 10:48am
Quoting armyda
i think that T5965 need in order to trade small lots because the drawdown trade in biger yours(T594) that are adapts for intraday trades with smaller drawdown I thnk also that bobi should explane better wich temèlate is more convenient for position trade or day trade or scalp trade
About aud usd trade if you take T5 965 you can see tath the price come frome 76.4 and has broken 21 pips 50% so the target is 0.91462
  • #491
  • Nov 11, 2013 1:42pm Nov 11, 2013 1:42pm
Quoting armyda
i think that T5965 need in order to trade small lots because the drawdown trade in biger yours(T594) that are adapts for intraday trades with smaller drawdown I thnk also that bobi should explane better wich temèlate is more convenient for position trade or day trade or scalp trade
I'm still not sure I understand. T5965 has a phase size of 965 pips, and T5_594 has a smaller phase size of 594. In general, the larger the template the longer a trade on that template will take to complete. The smaller the template, the quicker the trade will complete due to smaller targets.

T4Y_1130 target is 300 pips and another possible 161 pips
T5_965 target is about 175 pips
T4Y_680 target is 180 pips and another possible 120 pips
T5_594 target is 137 pips
TF4 220 target is 80
T5_103F target is 40 pips.

Bobi has stated in this thread that templates like 1130 and 965 are suggested for institutions because they can take months to complete and presumably require the ability to handle large drawdown.

Unless you are an institution or have an account over 100k, I suggest you use the large templates 1130, 965 to find the direction and trade the smaller ones.
  • #492
  • Edited 2:00pm Nov 11, 2013 1:44pm | Edited 2:00pm
Quoting armyda
{quote} About aud usd trade if you take T5 965 you can see tath the price come frome 76.4 and has broken 21 pips 50% so the target is 0.91462
Not on my chart it hasn't - are you changing the 'Baseline' and 'Length' fields on the templates?
Attached Image (click to enlarge)
Click to Enlarge Name: Indicator.png Size: 34 KB


Do you have different lines for each templates. For each pair I have 6 charts open each with a different template and baseline.
680 Below
Attached Image (click to enlarge)
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965 Below
Attached Image (click to enlarge)
Click to Enlarge Name: audusd-d1-965.png Size: 17 KB
  • #493
  • Nov 11, 2013 2:21pm Nov 11, 2013 2:21pm
T5 965 AUD USD the baseline is 1.0841 and not 1.841(see bobi post n.9)
  • #494
  • Nov 11, 2013 2:27pm Nov 11, 2013 2:27pm
Quoting armyda
T5 965 AUD USD the baseline is 1.0841 and not 1.841(see bobi post n.9)
You're right - I stand corrected.

I'd been through these so many times - can't believe I still had one wrong
  • #495
  • Nov 11, 2013 2:46pm Nov 11, 2013 2:46pm
I think that is a bit difficult to look at so many templates.So i need to decide to use the 103(in order to entry or exit) and F and T5 965 to see the direction
  • #496
  • Nov 11, 2013 2:48pm Nov 11, 2013 2:48pm
Quoting armyda
T5 965 AUD USD the baseline is 1.0841 and not 1.841(see bobi post n.9)
Now I have been corrected this throws up a really interesting situation - as I see it (someone please tell me if I'm wrong).

T4Y_1130 is Bullish - Has broken 50%, needs to reach roughly 0.9831
and
T5_2_2 is Bearish - broke 50% from 76.4 - needs to reach roughly 0.9138



That's a 700 pip stretch - wonder how that is going to play out, over what timeframe and how much of it I will be able to trade .
  • #497
  • Nov 11, 2013 2:52pm Nov 11, 2013 2:52pm
Quoting armyda
I think that is a bit difficult to look at so many templates.So i need to decide to use the 103(in order to entry or exit) and F and T5 965 to see the direction
You're right it is really tricky - it seems the thread is dying down without bobi here - I'm not sure how many people are trading the templates. I think trying to find confluence between the templates can increase confidence in the entry.
  • #498
  • Nov 11, 2013 3:11pm Nov 11, 2013 3:11pm
Quoting hollowhead
{quote} You're right it is really tricky - it seems the thread is dying down without bobi here - I'm not sure how many people are trading the templates. I think trying to find confluence between the templates can increase confidence in the entry.
there are many unanswered questions we need bobi for... for example his findings of extreme bear and bull levels.. these were fantastic...

SL - even though bobi said he doesn't use a SL but hedges instead... he knew of reversal areas in price - unbreakable levels... within 2 pips... also template reversals - if he comes back it would be good to get more insight into the paths price travels when its kind of lost...

for example - anyone know where euro is headed first?? daily sentiment and temporary direction... these were priceless tools bobi has..
  • #499
  • Nov 11, 2013 4:50pm Nov 11, 2013 4:50pm
Quoting hollowhead
{quote} You're right it is really tricky - it seems the thread is dying down without bobi here - I'm not sure how many people are trading the templates. I think trying to find confluence between the templates can increase confidence in the entry.
BASELINE 172 I THINK IS WRONG FOR eur jpy FOR T4Y 680 ARE YOU AGRRE WITH ME?
  • #500
  • Nov 11, 2013 5:35pm Nov 11, 2013 5:35pm
Quoting armyda
{quote} BASELINE 172 I THINK IS WRONG FOR eur jpy FOR T4Y 680 ARE YOU AGRRE WITH ME?
I thought similar about one of the EJ baselines and questioned gobi on it, but he said it was correct, so I figure they are all correct. Look at post n0. 205/206

As I don;t understand how the formula works to calculate them, I have to take them on faith...
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