Are support and resistance levels predetermined? | Page 41 | Forex Factory

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Are support and resistance levels predetermined?

  • #801
  • Jan 7, 2014 3:08pm Jan 7, 2014 3:08pm
Quoting hollowhead
{quote} Bobi - I'm only too help in anyway I can - without you the thread is a bit like the blind leading the blind, but I know if you spent all day here you would get bombarded with the same questions over and over and wouldn't be able to do things like build a calculator!! Many of us have made good money and we owe that to you. A calculator for SL would be fantastic and so appreciated. Stay well Steve
Yes you are right. I am so busy for trading , development and also some other jobs. I am developing the calculator that works with 6000 stock market shares , currencies ,.... You know how difficult it can be as the calculator can work with a close , nothing else .
Learn to walk before you run
  • #802
  • Jan 7, 2014 3:10pm Jan 7, 2014 3:10pm
Quoting aebab
{quote} Hi hollowhead; First of all , I should appreciate for all your works and contribution in the thread. The best way to learn is to teach and help others . Because you have to study to answer the questions and I see you are the best in the thread. Thanks a lot. About stop loss, I should say if you can not find a clear stop loss in a strategy , you should not rely on it! I said I use hedging if I use only templates for trading. But I never do like that! Because I have a special calculator that generates signals and I use those levels that the...
That would be awesome. Also, thanks for the aud/usd template.
  • #803
  • Jan 7, 2014 3:11pm Jan 7, 2014 3:11pm
Just I have a question , who have believed that the market is predetermined ?! Are you still reading news ?
Learn to walk before you run
  • #804
  • Jan 7, 2014 3:17pm Jan 7, 2014 3:17pm
Quoting aebab
Just I have a question , who have believed that the market is predetermined ?! Are you still reading news ?
I'm getting there. I don't understand how it can be, but from what I have seen here I can't deny it. I said earlier in thread to me it's like faith - believing something you can't see or understand - and I am a man of faith. Which news are you referring to bobi?
  • #805
  • Jan 7, 2014 3:21pm Jan 7, 2014 3:21pm
Quoting hollowhead
{quote} I'm getting there. I don't understand how it can be, but from what I have seen here I can't deny it. I said earlier in thread to me it's like faith - believing something you can't see or understand - and I am a man of faith. Which news are you referring to bobi?
Yes that's it!
I mean financial news that many fundamental analyzers are using to predict the future of the market
Learn to walk before you run
  • #806
  • Jan 7, 2014 3:35pm Jan 7, 2014 3:35pm
Quoting aebab
{quote} Yes that's it! I mean financial news that many fundamental analyzers are using to predict the future of the market
No - but I have never really paid much attention to them. Whenever a bank, investment company tells me something is going to happen I think its because they need a lot of traders to go against them to get their position filled. It's easy to talk on Bloomberg and say this or that is gonna happen, and then have a convenient caveat as to why it didn't later on.
  • #807
  • Jan 7, 2014 3:55pm Jan 7, 2014 3:55pm
what an idiot! isn't my concern a valid one? is bobi your dad who will always take care of you the whole life? btw, don't bother replying, i'm leaving you have fun here.

Quoting tomthepoppop
{quote} Do you actually consider this as a positive contribution to the thread? If you are so paranoid please go elsewhere and spread your special brand of cheer.
  • #808
  • Jan 7, 2014 4:40pm Jan 7, 2014 4:40pm
Quoting hollowhead
{quote} No - but I have never really paid much attention to them. Whenever a bank, investment company tells me something is going to happen I think its because they need a lot of traders to go against them to get their position filled. It's easy to talk on Bloomberg and say this or that is gonna happen, and then have a convenient caveat as to why it didn't later on.
Hello all, wishing you a Happy New Year. I am back from my travels and reading all the latest posts with great interest. Its very pleasing to have the new levels Aebab, so thank you, and reassuring to read all Steve's sensible, helpful posts. I will try to contribute anything useful if I can. I am busy setting up my spreadsheets for 2014. I hope you are all making lots of pips. I think this system will help me to hold my winning positions for longer which will be a real improvement in my trading. As I'm in the UK I can hedge the losers.
  • #809
  • Jan 7, 2014 4:57pm Jan 7, 2014 4:57pm
Quoting aebab
Just I have a question , who have believed that the market is predetermined ?! Are you still reading news ?

i never read news no more... i was told long time ago by someone else that markets will go places regardless of news... A straight forward perfect example is last months NFP - its was great news for USD but instead EU rises over 100 pips that day... and continued to make new highs... templates already assumed as such

i have seen things happen in the forex market where no fundamental news can explain and usually comes up with BS stories after the fact.,,, who would have thought that 3894 last month on EU was a 47 pips target hit to the pip from T103? i have not seen any other fundamental news or technical system explain...

whatever strange dream or thought you had bobi to come up with this perspective of the markets was a ground breaking one imo... thanks again for the baselines...
  • #810
  • Edited 5:18pm Jan 7, 2014 5:01pm | Edited 5:18pm
Quoting aebab
The Baselines for the AUD/USD (2014) T4Y_1130= 0.9889 T5_2_2= 0.9438 T4Y_680= 0.9025 T4F_220= 0.9001 T5_1_103= 0.9016
Thanks for new templates Bobi. Please remember the OIL. Keep up the good works. God Bless you!

Hallowhead, cudos to you on your response to Franz. Keep up the good works as well.

PS
Great news on the calculator, Bobi.
  • #811
  • Jan 7, 2014 5:21pm Jan 7, 2014 5:21pm
Quoting aebab
Just I have a question , who have believed that the market is predetermined ?! Are you still reading news ?
All I know is that your system is working.
  • #812
  • Jan 7, 2014 6:06pm Jan 7, 2014 6:06pm
I have set up a T4Y_680 template for Eurusd with the new baselines. Just out of interest I extended the phase lines into last year so I could draw some yellow rockets on the charts in order to visualise trade set ups for myself according to the rules. (I do know there were different phase lines then and that the trades in 2013 may not have been valid according to this year's levels)

Yellow rockets represent a set up dashed tail and a solid profitable head
The dotted purple lines are approx break levels (I need to tweek these but they are roughly right ie. 14 or 59 pips))
The last orange one is the one I am waiting for and the yellow set up has already happened.

Thought I would post it in case it helps anyone and in case I need correcting. If I have got it right and I find it useful I may make a version with trades properly labelled. Any thoughts?

I have also attached my spreadsheet which gives me the numbers to use.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: now.png Size: 119 KB
Click to Enlarge Name: now2.png Size: 45 KB
  • #813
  • Jan 7, 2014 8:22pm Jan 7, 2014 8:22pm
Quoting aebab
{quote} Yes that's it! I mean financial news that many fundamental analyzers are using to predict the future of the market
I cancelled all my news subscriptions shortly after joining this thread. Thanks Bobi for the thread
  • #814
  • Jan 7, 2014 8:30pm Jan 7, 2014 8:30pm
Well we need base lines for all templates for remaining of 7 major pairs +EURGBP....
The Market pays you to be disciplined
  • #815
  • Jan 8, 2014 12:27am Jan 8, 2014 12:27am
Quoting hollowhead
{quote} Hi lyubo, I'm afaraid I can't give you any advise regarding your actual trade - it all depends on your risk appetite and whether you are using a SL or hedge. One thing you need to ...............

Many thanks for your answer.
I'm still waiting for reaching the target.
Bobby gave me great hope with his project for calculator for the stops.
  • #816
  • Jan 8, 2014 1:12am Jan 8, 2014 1:12am
Hi Hollowhead, you are appreciated by bobi, so I can ask my question: How do you determine the stop loss in this method?
I guess you have answered previously, but I can not find your answer ... thanks a lot
  • #817
  • Jan 8, 2014 3:16am Jan 8, 2014 3:16am
Hi mojaneb

I don't use a SL (well I do but it's very far away to prevent a margin call) - I place a hedge trade on an opposite trade. This is a very aggressive approach and I wouldn't recommend it if you are new to trading.

Steve
  • #818
  • Jan 8, 2014 3:57am Jan 8, 2014 3:57am
Hi Hollowhead:

How many pips you expect the price goes against you for open a operation of coverage?
  • #819
  • Jan 8, 2014 5:22am Jan 8, 2014 5:22am
I also agree with the subject matter of this thread, I have been following fibonacci levels since long time, I usually place pending orders without waiting for candlestick or other confirmation signals and I am very much successful in this strategy.
  • #820
  • Jan 8, 2014 12:24pm Jan 8, 2014 12:24pm
Quoting aebab
The Baselines for the AUD/USD (2014) T4Y_1130= 0.9889 T5_2_2= 0.9438 T4Y_680= 0.9025 T4F_220= 0.9001 T5_1_103= 0.9016

Thanx bobi for the baseline

and calculator thats great news

i'm new with the system buy i have seen its power and completly focused on it

god bless you
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