Are support and resistance levels predetermined? | Page 58 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,141
  • Feb 3, 2014 1:33am Feb 3, 2014 1:33am
Quoting hollowhead
GU T5_103 short signal TP 1.6336.7.
  • #1,142
  • Feb 3, 2014 1:34am Feb 3, 2014 1:34am
Quoting armyda
{quote} Hallo give me five please if i right

  • #1,143
  • Feb 3, 2014 1:52am Feb 3, 2014 1:52am
GU T4Y_680 short triggered again - TP 1.6188
  • #1,144
  • Feb 3, 2014 2:36am Feb 3, 2014 2:36am
Quoting hollowhead
GU T5_103 short signal TP 1.6336.7.
TP hit.
  • #1,145
  • Feb 3, 2014 2:40am Feb 3, 2014 2:40am
103 target!!
  • #1,146
  • Feb 3, 2014 6:25am Feb 3, 2014 6:25am
Quoting hollowhead
{quote} TP hit.
EU 103 must still go down on target?
  • #1,147
  • Feb 3, 2014 6:26am Feb 3, 2014 6:26am
Quoting hollowhead
{quote} Have been looking back at my AU trades and it seems pretty clear you were right on this one. There is a T4F long on AU at 0.8781 on the phase under that that has kept trying to break, so I am going to look to take that and position my lot size to 'unhedge' the other one - if all goes to plan I should be a little up, and ready to trade down again. {image}
So I'm now in long AU on a T4F trade - TP 0.8949.
  • #1,148
  • Feb 3, 2014 6:28am Feb 3, 2014 6:28am
Quoting armyda
{quote} EU 103 must still go down on target?
Yes, acording to rules, it must go . Beware of money management if, before the target, it goes up.
Egu.
  • #1,149
  • Feb 3, 2014 6:30am Feb 3, 2014 6:30am
Quoting armyda
{quote} EU 103 must still go down on target?
Yep - and according to the T4Y_680 template should go another 50 pips to 1.3398 (1.400 BRN).
  • #1,150
  • Feb 3, 2014 7:15am Feb 3, 2014 7:15am
Quoting armyda
{quote} I think that same templates are honesty too risky for me because they are maked and thinked for TF weekly or montly and then the MDD can be very high So i decided to follow only 103 and 1030 template made for short -medium trades. Armayda
Although operating only these two templates, which can support DD can be very high, exemple as A / U has this day, has 3 open trades. It is best to open hedging transactions (Assuming the risk of operating this MM) or use stop-loss, significantly reducing the benefits.
I have to admit I still have not found the proper management of MM for this system.
  • #1,151
  • Feb 3, 2014 7:19am Feb 3, 2014 7:19am
Quoting tomthepoppop
{quote}got a JMSS59 - Your charts continue to blow me away ---IN A GOOD WAY --- Got a question for you---- Do you set the ENTRY and EXIT points in advance? If so - how far in advance? A week - a month etc. Tom
Hi Tom: Usually when I see that the price is close to the entry level, placed pending order
  • #1,152
  • Feb 3, 2014 7:24am Feb 3, 2014 7:24am
Today the G / U has performed this operation
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  • #1,153
  • Feb 3, 2014 8:06am Feb 3, 2014 8:06am
Quoting armyda
{quote} I think that same templates are honesty too risky for me because they are maked and thinked for TF weekly or montly and then the MDD can be very high So i decided to follow only 103 and 1030 template made for short -medium trades. Armayda
Armyda the T5_1030 template is T5_103 x10 - this makes the phase 1030 pips long. This means a trade length is 400pips. Depending on your definition of 'medium term 'IMHO if you want a medium term trade the T4F and T4Y_680 may be better templates to look to as they have profit targets of 150-180 pips.
  • #1,154
  • Feb 3, 2014 10:02am Feb 3, 2014 10:02am
thanks to all for your hints
  • #1,155
  • Feb 3, 2014 1:21pm Feb 3, 2014 1:21pm
hi bobi
please share template 3 and template 4y baseline for february2014
  • #1,156
  • Feb 3, 2014 8:30pm Feb 3, 2014 8:30pm
Quoting hollowhead
My weekend analysis as follows - as always tell me if you see it different. I have included bearish chain reactions. These are where I see a trade being triggered on another template as a current trade completes. This would appear to cause a 'chain reaction' of trades. I am seeing these as potential bottoms/tops of pullbacks, especially if we have large template signals already activated the opposite way. I may have missed some along the way because it gets a little confusing swapping around the templates and checking levels and targets, so let...
Hi Steve,
I have read through the entire thread and must say thankyou for your contribution. And obviously a big thankyou to Bobi for the levels that he as provided.
I see that you have been rather successful using these levels and using hedging instead of stops. I feel that given the rules, particularly of the possible fail templates 103 and 220 that hedging makes sense.
If I may ask you a question regarding you approach to hedging these trades? Do you rely solely on trades triggered in the opposite direction for your hedging, or do you actively hedge trades when something is starting to move further away? I know it depends on risk appetite, I am just curious to know how you approach this?

Thanks.
Paul
  • #1,157
  • Feb 3, 2014 11:01pm Feb 3, 2014 11:01pm
Quoting RogFx
{quote} Hi Steve, I have read through the entire thread and must say thankyou for your contribution. And obviously a big thankyou to Bobi for the levels that he as provided. I see that you have been rather successful using these levels and using hedging instead of stops. I feel that given the rules, particularly of the possible fail templates 103 and 220 that hedging makes sense. If I may ask you a question regarding you approach to hedging these trades? Do you rely solely on trades triggered in the opposite direction for your hedging, or do you...
Hi Paul - I pretty much use the the opposing levels to activate the hedge - on T5_103 this gives a hedge gap of about 85 pips I think. If you view the levels as support and resistance, as opposed to just entry levels, then it makes sense to me to view an opposing level as a change of trend (which usually means that a hedge is a pullback). It can get sticky when price is consolidating, and you end up hedging and then counter-hedging, but it has pretty much always sorted itself out in the wash!!. The key is to not leave enough margin to allow enough hedges and make sure the trades are valid. You need to stay calm and try and keep the hedges as balanced as you can until you know it is time to unlock them (usually they unlock themselves by the natural order of the trades). It is a very full on approach and not for everyone.

I keep a journal logging every trade and the reason for taking the trade (my weekly analysis helps me hold on to the big picture). This helps me keep track of the hedges and the bigger picture.

Hope that helps and wishing you success with Abonacci.

Steve
  • #1,158
  • Feb 3, 2014 11:14pm Feb 3, 2014 11:14pm
GU T5_103 short (1.62737) - TP 1.62337
  • #1,159
  • Feb 3, 2014 11:19pm Feb 3, 2014 11:19pm
AUD USD to target long 103 this morning(my order was in to machine)
  • #1,160
  • Feb 3, 2014 11:34pm Feb 3, 2014 11:34pm
Quoting hollowhead
{quote} Have been looking back at my AU trades and it seems pretty clear you were right on this one. There is a T4F long on AU at 0.8781 on the phase under that that has kept trying to break, so I am going to look to take that and position my lot size to 'unhedge' the other one - if all goes to plan I should be a little up, and ready to trade down again. {image}
Really wasn't expecting this to work so quickly - the T4F long has nearly completed. The really big question is will price no continue you up to complete the outstanding long T5_103 triggered at 9063 on 13 January? I wonder whether to keep it all open, or will it resume down after the T4F completes? Oooohhh this is a hard one to call....


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