Are support and resistance levels predetermined? | Page 56 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,101
  • Jan 31, 2014 6:48am Jan 31, 2014 6:48am
Quoting hollowhead
{quote} oohh - spread held that back for me by .3 pips!! Still should get there to complete the T4F trade.
shame
  • #1,102
  • Jan 31, 2014 7:24am Jan 31, 2014 7:24am
Quoting jmss59
{quote} shame
It is - did you close out on it?

Do you factor in spread. I can't decide whether to. I often round up or down to big round numbers on the larger templates - but the 103 is so targeted, I can't decide whether to factor spread.
  • #1,103
  • Jan 31, 2014 9:03am Jan 31, 2014 9:03am
sell signal E/U
Attached Image (click to enlarge)
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  • #1,104
  • Jan 31, 2014 9:11am Jan 31, 2014 9:11am
jmss59 - thank you for the E/U trigger
  • #1,105
  • Jan 31, 2014 9:25am Jan 31, 2014 9:25am
Quoting jmss59
sell signal E/U {image}
Jmss59, Thanks for confirming once the price breached the 61.8 level, I entered the trade few pips below with TP few pips above the 23.6 level. Hopefully we will get there.
  • #1,106
  • Jan 31, 2014 9:54am Jan 31, 2014 9:54am
G-U, the price finally reaches the expected goal
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  • #1,107
  • Jan 31, 2014 10:01am Jan 31, 2014 10:01am
Quoting jmss59
G-U, the price finally reaches the expected goal {image}
. Now to keep going to complete my T4F.
  • #1,108
  • Jan 31, 2014 10:13am Jan 31, 2014 10:13am
Quoting hollowhead
{quote} . Now to keep going to complete my T4F.
HH, Is it possible to post the T4F chart that will help me understand what you are referring to.

Thanks.
  • #1,109
  • Jan 31, 2014 10:28am Jan 31, 2014 10:28am
Quoting spuspala
{quote} HH, Is it possible to post the T4F chart that will help me understand what you are referring to. Thanks.
.
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  • #1,110
  • Jan 31, 2014 10:32am Jan 31, 2014 10:32am
Quoting spuspala
{quote} HH, Is it possible to post the T4F chart that will help me understand what you are referring to. Thanks.
Here you go spuspala.

Price travelled from lower phase over 100% and crossed 38.2% (it should reach 76.4%), but it reversed signalling a trend reversal.

Once it crossed below the 100% by 10 pips I entered short, targetting the 23.6%.

Download the rules for all templates PDF I posted in the thread (you can search the attachments by clicking the paper clip at the top of the thread page.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-T4F-310114.png Size: 58 KB
  • #1,111
  • Jan 31, 2014 10:32am Jan 31, 2014 10:32am
Summary January G / U
8 open trades , 8 closed transactions
8 x 40 pips 320 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 7xot.png Size: 366 KB
  • #1,112
  • Jan 31, 2014 10:35am Jan 31, 2014 10:35am
Quoting jmss59
Summary January G / U 8 open trades , 8 closed transactions 8 x 40 pips 320 pips {image}
Great job Jmss59
  • #1,113
  • Jan 31, 2014 10:45am Jan 31, 2014 10:45am
Summary January E / U
7 open trades , 6 closed and 1 open
6 x 40 pips 240 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 3je4.png Size: 42 KB
  • #1,114
  • Jan 31, 2014 10:55am Jan 31, 2014 10:55am
jmss59 - I love your summary for the month - those charts are a work of trading art. Simply beautiful.

If they don't convince someone this stuff works, I don't know what will.
  • #1,115
  • Jan 31, 2014 10:57am Jan 31, 2014 10:57am
January Summary A / U, the black sheep
9 trades open , 6 closed and 3 open
6 x 40 pips 240 pips
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Click to Enlarge Name: nyty.png Size: 47 KB
  • #1,116
  • Jan 31, 2014 11:04am Jan 31, 2014 11:04am
Quoting hollowhead
jmss59 - I love your summary for the month - those charts are a work of trading art. Simply beautiful. If they don't convince someone this stuff works, I don't know what will.
If it is so, but if I'm honest , I have no clear how to operate the coverage , and that complicates the results of some operations
  • #1,117
  • Jan 31, 2014 11:18am Jan 31, 2014 11:18am
Quoting jmss59
{quote} If it is so, but if I'm honest , I have no clear how to operate the coverage , and that complicates the results of some operations
I assume you are referring to coping with drawdown and where to SL?!
  • #1,118
  • Jan 31, 2014 11:40am Jan 31, 2014 11:40am
Alan, I got a reply from you but it was empty... not sure what happened, all I can see is the quote of my original message to you.

Steve
  • #1,119
  • Jan 31, 2014 11:40am Jan 31, 2014 11:40am
Quoting hollowhead
{quote} I assume you are referring to coping with drawdown and where to SL?!
Put that in a sell operation, decided to open 50% coverage of 76.4 - 100. In the operation displayed in the graph, the price goes up to 3 times the coverage level
3 times open coverage: spread x 3
3 times close coverage: spread x 3
If we add the slipage which can be 1 or 2 pip operation.
Diminishing greatly benefit the operation.
Attached Image (click to enlarge)
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  • #1,120
  • Jan 31, 2014 12:43pm Jan 31, 2014 12:43pm
Quoting jmss59
Summary January G / U 8 open trades , 8 closed transactions 8 x 40 pips 320 pips {image}
Hi J
May I ask what's your base number on GU
and why you choose that.Thank you
In trading, you have to be defensive and aggressive at the same time
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