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Are support and resistance levels predetermined?

  • #1,241
  • Feb 9, 2014 2:47pm Feb 9, 2014 2:47pm
Would still love to have the T5_594 baselines - I found them so useful last year to see the big reversal areas.
  • #1,242
  • Feb 9, 2014 4:37pm Feb 9, 2014 4:37pm
hollow how can find usd/jpy baseline? Can you help me? My english isnt very good so sorry
  • #1,243
  • Feb 9, 2014 5:46pm Feb 9, 2014 5:46pm
Quoting recepcem1984
hollow how can find usd/jpy baseline? Can you help me? My english isnt very good so sorry
The only way we can get baselines is direct from Bobi. Nobody else knows the calculation he uses.
  • #1,244
  • Feb 10, 2014 4:25am Feb 10, 2014 4:25am
Quoting hollowhead
{quote} This is an old signal. I take the rise from below 23.6% in Dec 13 and the fact that price opened above the 50% signal on 2 Jan 14 to validate the trade (I know others don't). I'm not particulalry married to the signal and I won't lose sleep over whether the trade is right or wrong as Bobi has previously stated EU is going to see 1.44 in 2014. Trade well Steve
Thank you very much steve .

Much appreciated your help.

If i am right we have a missed target -2013
Template 1030(103*10)
E/U-1.4052 , G/U-1.6773
A/U-1.0082

Template-1130 G/U-1.6724

please confirm.

regards
tuka.
unlearning is difficult than learning-that is the key!!
  • #1,245
  • Feb 10, 2014 5:04am Feb 10, 2014 5:04am
Quoting sram
{quote} Thank you very much steve . Much appreciated your help. If i am right we have a missed target -2013 Template 1030(103*10) E/U-1.4052 , G/U-1.6773 A/U-1.0082 Template-1130 G/U-1.6724 please confirm. regards tuka.
tuka... i believe any outstanding targets from 2013 are now void as baselines have changed... bobi said every year (even month, week, day) new support and resistances are created at the beginning of the month or year... depending on what template you are looking at.. so i would only look for what targets have been created since jan 2014...

however having said that you should still look to see where porice has come from in the past to see whether a breakout is valid or not... its all in the rules here on the thread
  • #1,246
  • Feb 10, 2014 5:16am Feb 10, 2014 5:16am
Quoting sram
{quote} Thank you very much steve . Much appreciated your help. If i am right we have a missed target -2013 Template 1030(103*10) E/U-1.4052 , G/U-1.6773 A/U-1.0082 Template-1130 G/U-1.6724 please confirm. regards tuka.
Hi Tuka

There were a few 1030 signals last year which are unresolved. And you're right in that Bobi's example of Abonacci Magic (T5_103x10), he uses a chart set to weekly and clearly implies the target is good beyond the year.

However, unless we are making really long term investments, I am not sure it changes anything in day to day/week to week trading, as there will be other smaller template signals showing the way. Also factor in that if a T5_103 can go hundreds of pips against you before reaching target, then it stands to reason that price could go 1000s of pips against you before reaching the x10 target!!

But it's useful (and quite entertaining) to watch when the whole of FF and the banks/hedge funds scream that a pair is at the top and can't go higher (and folk here call you an idiot if you are still buying), but we know there is another target higher!!
  • #1,247
  • Feb 10, 2014 5:17am Feb 10, 2014 5:17am
Quoting jaylovin
{quote} tuka... i believe any outstanding targets from 2013 are now void as baselines have changed... bobi said every year (even month, week, day) new support and resistances are created at the beginning of the month or year... depending on what template you are looking at.. so i would only look for what targets have been created since jan 2014... however having said that you should still look to see where porice has come from in the past to see whether a breakout is valid or not... its all in the rules here on the thread
Sorry Jay - was typing as you replied to Tuka - I am sure Bobi has stated that some of the larger templates can go beyond the year - but you're right that concentrating on this year's baselines and templates must be the best way to go.
  • #1,248
  • Feb 10, 2014 5:43am Feb 10, 2014 5:43am
Quoting hollowhead
{quote} Sorry Jay - was typing as you replied to Tuka - I am sure Bobi has stated that some of the larger templates can go beyond the year - but you're right that concentrating on this year's baselines and templates must be the best way to go.

sorry for butting in... he asked you first

i don't think we have been given any templates which go beyond the year.. otherwise we would have the same baselines from the previous year? i think he has kept the larger and smaller templates away from us (to avoid confusion)... his 1.4450 target came last year so it might even be a calculation which isn't template based... along with monthly templates - all previous months targets are void and its always been like that... so i am just following suite with the annual templates

judging by PA today... it maybe 3682 hold this puppy and move happens tomorrow... over this price as i say i will forget the downside and keep looking higher.. i have not yet entered into EU... i am waiting to see if we get closer so i can keep risk small
  • #1,249
  • Feb 10, 2014 5:49am Feb 10, 2014 5:49am
Quoting jaylovin
{quote} sorry for butting in... he asked you first judging by PA today... it maybe 3682 hold this puppy and move happens tomorrow... over this price as i say i will forget the downside and keep looking higher.. i have not yet entered into EU... i am waiting to see if we get closer so i can keep risk small
No problem - butt away!! Markets seem to have the Monday morning feel - I think you're right that we may not see some direction intention for a bit.
  • #1,250
  • Feb 10, 2014 9:02am Feb 10, 2014 9:02am
I've decided to join a little test TauTrader is running. I am going to trade Abonacci for a year on Demo, with a linked TE to see how it stacks up against other traders' systems - should be fun to see how things pan out. Thought Abonacci traders might like to see how it goes. You can see the thread here, and the TE will be in my signature.

Of course my real focus is my live account, but I will try and trade as much as I can on the demo account.

Green pips to everyone
  • #1,251
  • Feb 10, 2014 9:33pm Feb 10, 2014 9:33pm
Quoting jaylovin
{quote} sorry for butting in... he asked you first i don't think we have been given any templates which go beyond the year.. otherwise we would have the same baselines from the previous year? i think he has kept the larger and smaller templates away from us (to avoid confusion)... his 1.4450 target came last year so it might even be a calculation which isn't template based... along with monthly templates - all previous months targets are void and its always been like that... so i am just following suite with the annual templates judging by...
Thank you jay

Points noted

I am not using outstanding targets for trading. That is not my idea.I think outstanding targets can be usable when price near to those numbers and short term templates support the move,then we have a strong reason to trade.LOL
unlearning is difficult than learning-that is the key!!
  • #1,252
  • Feb 10, 2014 9:46pm Feb 10, 2014 9:46pm
Quoting hollowhead
{quote} Hi Tuka There were a few 1030 signals last year which are unresolved. And you're right in that Bobi's example of Abonacci Magic (T5_103x10), he uses a chart set to weekly and clearly implies the target is good beyond the year. However, unless we are making really long term investments, I am not sure it changes anything in day to day/week to week trading, as there will be other smaller template signals showing the way. Also factor in that if a T5_103 can go hundreds of pips against you before reaching target, then it stands to reason that...
Thank you so much steve

I don't know why but i love the way you explain!

But it's useful (and quite entertaining) to watch when the whole of FF and the banks/hedge funds scream that a pair is at the top and can't go higher (and folk here call you an idiot if you are still buying), but we know there is another target higher!!- IT SIMPLY EXPLAINS why we need this system !!LOL
unlearning is difficult than learning-that is the key!!
  • #1,253
  • Feb 11, 2014 12:46am Feb 11, 2014 12:46am
Quoting armyda
this morning has gone long au\usd 103 templ
TP hit.
  • #1,254
  • Feb 11, 2014 5:56am Feb 11, 2014 5:56am
It's worth noting that there are some events in the next couple of days which could trigger some volatility on our pairs). Yellen is testifying later today, and as its her first so there may be a significant reaction (then again it might be nothing). While I agree with Bobi that news will not stop price reaching a predetermined level, I do think it can accelerate to TPs and trigger signals.

If GU and EU start to go south, I see valid T4F reversal signal on both. GU is strong short enter at 1.6327 (TP 1.61689), EU - (slightly less convincing as price has been near the extremes of the setup levels, but given we have a T4Y_680 short still in play I still think it's in line with the medium trend); short entry 1.35110 (TP 1.33529).

Might be worth bearing in mind.
  • #1,255
  • Feb 11, 2014 6:08am Feb 11, 2014 6:08am
Hi Hollowhead, great trading discussion you and Aebab are running here.

I have set up the T4Y_680 on my MT4 platform after going through the posts. 680 is working off the daily chart and we are currently above the 76.4 level. I have the 680 baseline at .13738 - 59 from 1.3797. I am trading the yearly of this and aiming form 50% level at 1.3398.

Am I correct in my levels?

Great thread that has been started and much respect to you all and best of trading for the future.

Axel


Quoting hollowhead
It's worth noting that there are some events in the next couple of days which could trigger some volatility on our pairs). Yellen is testifying later today, and as its her first so there may be a significant reaction (then again it might be nothing). While I agree with Bobi that news will not stop price reaching a predetermined level, I do think it can accelerate to TPs and trigger signals. If GU and EU start to go south, I see valid T4F reversal signal on both. GU is strong short enter at 1.6327 (TP 1.61689), EU - (slightly less convincing as price...
  • #1,256
  • Feb 11, 2014 6:15am Feb 11, 2014 6:15am
Quoting Axel
Hi Hollowhead, great trading discussion you and Aebab are running here. I have set up the T4Y_680 on my MT4 platform after going through the posts. 680 is working off the daily chart and we are currently above the 76.4 level. I have the 680 baseline at .13738 - 59 from 1.3797. I am trading the yearly of this and aiming form 50% level at 1.3398. Am I correct in my levels? Great thread that has been started and much respect to you all and best of trading for the future. Axel {quote}
Hi Axel, sorry I'm a little confused by your description (the clue is in my name!!). Could you post a chart so I can see and that might help me.

Cheers
  • #1,257
  • Feb 11, 2014 6:18am Feb 11, 2014 6:18am
Quoting hollowhead
It's worth noting that there are some events in the next couple of days which could trigger some volatility on our pairs). Yellen is testifying later today, and as its her first so there may be a significant reaction (then again it might be nothing). While I agree with Bobi that news will not stop price reaching a predetermined level, I do think it can accelerate to TPs and trigger signals. If GU and EU start to go south, I see valid T4F reversal signal on both. GU is strong short enter at 1.6327 (TP 1.61689), EU - (slightly less convincing as price...
NOTE: If the next GU long T5_103 (1.6469) triggers, completion will void the T4F set up I described!
  • #1,258
  • Feb 11, 2014 6:38am Feb 11, 2014 6:38am
Haha, my head is the same!

Please see attached screen shot.

Kind regards

A

Quoting hollowhead
{quote} Hi Axel, sorry I'm a little confused by your description (the clue is in my name!!). Could you post a chart so I can see and that might help me. Cheers
Attached File(s)
File Type: pdf Forex.pdf   154 KB | 674 downloads
  • #1,259
  • Feb 11, 2014 6:47am Feb 11, 2014 6:47am
Thanks - its a bit fuzzy, but I think it's all correct. T4Y_680 short target as you say is 1.3398.
  • #1,260
  • Feb 11, 2014 6:48am Feb 11, 2014 6:48am
Quoting hollowhead
{quote} NOTE: If the next GU long T5_103 (1.6469) triggers, completion will void the T4F set up I described!
with the spread you are inside?
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