Are support and resistance levels predetermined? | Page 35 | Forex Factory

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Are support and resistance levels predetermined?

  • #681
  • Dec 12, 2013 8:38pm Dec 12, 2013 8:38pm
Hi, I didn't see any templates available for download, do I miss something?

The baselines have to be told by aebab, right? We have no way to produce those.

Thanks.

Quoting hollowhead
{quote} I think that's probably the right thing to do. BTW Alan, not wanting to speak for Tom, but I think several people favour the 680 and 1130, because Bobi describes them as the most accurate templates he had created, and looking back they certainly seem to be very accurate. Best, Steve
  • #682
  • Dec 13, 2013 12:47am Dec 13, 2013 12:47am
Quoting charvo
Hi, I didn't see any templates available for download, do I miss something? The baselines have to be told by aebab, right? We have no way to produce those. Thanks. {quote}
Hi Charvo - template on this thread doesn't mean an mt4 template - it is a way to describe the various ways the abonacci indicator can be setup for an instrument. Only Bobi can give the baselines, he has not and will explain how he calculates them.

Steve
  • #683
  • Edited Dec 16, 2013 1:23am Dec 15, 2013 1:22pm | Edited Dec 16, 2013 1:23am
My weekend analysis - let me know if you see it differently.

I'd love to know what Bobi and others think about the GU and AU T4F trades. The reversal triggered, but then price returned to complete its original target - does this invalidate the reversal signal?


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  • #684
  • Dec 17, 2013 4:00am Dec 17, 2013 4:00am
1,3522 on T5-103 still active, and T4 3503 should be passed.
  • #685
  • Dec 17, 2013 4:08am Dec 17, 2013 4:08am
Quoting Magnat
1,3522 on T5-103 still active, and T4 3503 should be passed.

there is also 3860 on Template 3
  • #686
  • Dec 17, 2013 4:23am Dec 17, 2013 4:23am
Quoting Magnat
1,3522 on T5-103 still active, and T4 3503 should be passed.
Good shout on the 1.3522 Magnat. I know Bobi keeps the trades T5_103 F open, but he has also said the F means it can fail - I wonder when we can conclude that it has failed????

I can't see the T4 trade you're referring to - is that the T4Y template or one from the other thread?

Good trading

Steve
  • #687
  • Dec 17, 2013 4:24am Dec 17, 2013 4:24am
Quoting jaylovin
{quote} there is also 3860 on Template 3
Hi jaylovin, is that referring to a template on the other thread or have I missed something here?

Pips to you

Steve
  • #688
  • Dec 17, 2013 7:47am Dec 17, 2013 7:47am
Quoting hollowhead
{quote} Good shout on the 1.3522 Magnat. I know Bobi keeps the trades T5_103 F open, but he has also said the F means it can fail - I wonder when we can conclude that it has failed???? I can't see the T4 trade you're referring to - is that the T4Y template or one from the other thread? Good trading Steve
I mean classic T4 template, baseline 3503
  • #689
  • Dec 17, 2013 8:18am Dec 17, 2013 8:18am
Quoting aebab
Hi Posting on behalf of Bobi: Template 3(T3) baseline for Dec 2013 = 1.3596 Template 4Y(T4Y) baseline for Dec 2013 = 1.3503

these ones here... 127 pip phase for T3.. 220 for T4
  • #690
  • Dec 17, 2013 8:26am Dec 17, 2013 8:26am
Quoting jaylovin
{quote} there is also 3860 on Template 3
if baseline is broken, to continue the down trend price shouldn't go higher than 50%+10pips (3786+10)
  • #691
  • Dec 17, 2013 8:35am Dec 17, 2013 8:35am
Quoting Magnat
{quote} if baseline is broken, to continue the down trend price shouldn't go higher than 50%+10pips (3786+10)
I did not know that rule..... previously Bobi said in a video that the baseline should not break once 38.2% is broken - it should reach the 76.4% (3820) then eventually the 100% at 3860...

this hasn't been happening very much in recent months but what i have noticed it that 61.8% below needs to break to confirm this... at 3674...

however we saw 3799 yesterday? that was a break of 50%?
  • #692
  • Dec 17, 2013 8:48am Dec 17, 2013 8:48am
Quoting jaylovin
{quote} I did not know that rule..... previously Bobi said in a video that the baseline should not break once 38.2% is broken - it should reach the 76.4% (3820) then eventually the 100% at 3860... this hasn't been happening very much in recent months but what i have noticed it that 61.8% below needs to break to confirm this... at 3674... however we saw 3799 yesterday? that was a break of 50%?
you should know the high reversal (baseline +11 pips) and low reversal points (50%-8 pips). the Principe is the same for downtrend.
no, that wasn't break.
sorry for my poor English, this is not my native language.
  • #693
  • Dec 17, 2013 9:43am Dec 17, 2013 9:43am
Quoting Magnat
{quote} you should know the high reversal (baseline +11 pips) and low reversal points (50%-8 pips). the Principe is the same for downtrend. no, that wasn't break. sorry for my poor English, this is not my native language.
i have another question... how can you know that the 3522 T103 is still valid when we are 2 phases away from it? thanks
  • #694
  • Dec 17, 2013 10:01am Dec 17, 2013 10:01am
Quoting jaylovin
{quote} i have another question... how can you know that the 3522 T103 is still valid when we are 2 phases away from it? thanks
I use mixed view from T4 and T3
  • #695
  • Dec 18, 2013 6:29pm Dec 18, 2013 6:29pm
Hi Abonacci, Magnat, hollowhead, charvo,
Please confirm i understand it correctly.
Regards
Hukam
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  • #696
  • Dec 18, 2013 6:43pm Dec 18, 2013 6:43pm
Quoting hukam
Hi Abonacci, Magnat, hollowhead, charvo, Please confirm i understand it correctly. Regards Hukam {image}

Hi hukam, I'm not really sure how to answer because the rules are different for each template. You are showing a T5_103F template with a length of 1030, which is fine (you are basically turning a short term template into a long term trade template). For this you need to follow the T5_103F rules, which are basically for Longs, if price come from the 76% line of the lower phase and move up to cross the 38% line by 7 pips (70 pips if your using length 1030), then it should reach a target of a further 40 pips (or 400pips if you are using length 1030). For shorts price needs to come from 23% of the upper phase and cross the 68% by 7 pips....

There is no 50% rule in this template as far as I know or can remember...

If you search the thread I have put bobi's rules for each template in a PDF - hope it helps.
  • #697
  • Dec 18, 2013 7:30pm Dec 18, 2013 7:30pm
Quoting hollowhead
{quote} Hi hukam, I'm not really sure how to answer because the rules are different for each template. You are showing a T5_103F template with a length of 1030, which is fine (you are basically turning a short term template into a long term trade template). For this you need to follow the T5_103F rules, which are basically for Longs, if price come from the 76% line of the lower phase and move up to cross the 38% line by 7 pips (70 pips if your using length 1030), then it should reach a target of a further 40 pips (or 400pips if you are using length...
thanks, hollowhead,
i think i post wrong chart. please confirm these rules are valid for Daily time frame.
Regards,
Hukam
  • #698
  • Dec 19, 2013 1:20am Dec 19, 2013 1:20am
Hi hukam - with all due repect I think you need to read the thread and/or the PDF some more. It is clear that the timeframe makes no difference - it is the length of the template that changes the rules - I think you are describing the rules for the T5-965 template - which is the first template described, so you would need to set the indicator to that.
  • #699
  • Dec 19, 2013 5:48am Dec 19, 2013 5:48am
Quoting hollowhead
Hi hukam - with all due repect I think you need to read the thread and/or the PDF some more. It is clear that the timeframe makes no difference - it is the length of the template that changes the rules - I think you are describing the rules for the T5-965 template - which is the first template described, so you would need to set the indicator to that.

thanks i printed it and learning.
  • #700
  • Dec 19, 2013 5:55am Dec 19, 2013 5:55am
Quoting hukam
{quote} thanks i printed it and learning.

Great. You might want to wait until bobi provides the baselines for the 2014 before jumping into any trades on Abonacci.

Best to you

Steve
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