Are support and resistance levels predetermined? | Page 64 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,261
  • Feb 11, 2014 6:54am Feb 11, 2014 6:54am
Quoting armyda
{quote} with the spread you are inside?
Still haven't decided what I do about spread - but either way it's close enough for me to consider the setup trade as complete and the reversal trade as void.
  • #1,262
  • Feb 11, 2014 6:56am Feb 11, 2014 6:56am
Thanks for taking a look!




Quoting hollowhead
Thanks - its a bit fuzzy, but I think it's all correct. T4Y_680 short target as you say is 1.3398.
  • #1,263
  • Feb 11, 2014 7:06am Feb 11, 2014 7:06am
Quoting hollowhead
{quote} Still haven't decided what I do about spread - but either way it's close enough for me to consider the setup trade as complete and the reversal trade as void.
thanks Hollo
  • #1,264
  • Feb 11, 2014 7:16am Feb 11, 2014 7:16am
Quoting armyda
{quote} thanks Hollo
Grrrr!! The T5_103 GU triggered on my demo, but not my live account (I think I added spread on the live but not the demo). Now I'm conflicted between the two accounts!!
  • #1,265
  • Feb 11, 2014 7:21am Feb 11, 2014 7:21am
Quoting hollowhead
{quote} Grrrr!! The T5_103 GU triggered on my demo, but not my live account (I think I added spread on the live but not the demo). Now I'm conflicted between the two accounts!!
i'm inside now
  • #1,266
  • Feb 11, 2014 7:34am Feb 11, 2014 7:34am
Quoting armyda
{quote} i'm inside now
crazy reverse damn!!!!
  • #1,267
  • Feb 11, 2014 7:37am Feb 11, 2014 7:37am
Quoting armyda
{quote} crazy reverse damn!!!!
It's a tough one, but I think we are going to have a volatile afternoon, so it may play out - I've been favouring the downside and the only reason I had the pending was to hedge against the shorts. I am still waiting for the 680 short to play out. Stay safe and if in doubt get out.
  • #1,268
  • Feb 11, 2014 8:24am Feb 11, 2014 8:24am
I'm beginning to believe :-)

Quoting hollowhead
{quote} It's a tough one, but I think we are going to have a volatile afternoon, so it may play out - I've been favouring the downside and the only reason I had the pending was to hedge against the shorts. I am still waiting for the 680 short to play out. Stay safe and if in doubt get out.
  • #1,269
  • Feb 11, 2014 8:42am Feb 11, 2014 8:42am
Quoting hollowhead
{quote} Grrrr!! The T5_103 GU triggered on my demo, but not my live account (I think I added spread on the live but not the demo). Now I'm conflicted between the two accounts!!
Hello,
Well I prefer take a trade with 10 pips of diference (considering 3 pips for spread), so that T5-103 GU has not triggered yet on my live account as high level on my broker is 1.6470 and the enter for me is 1.64723. Actually I have a sell position on 1.6462 as a countertrend with a SL on 1.64723. Many times a counter trend works very well, in this case we are waiting GU meets 1.6188 on 680 template, so im gioing to consider to trade this way on each up phase.

Regards,

Gisela

BTW, I have a short trade on EU with 1.36943 as SL for same reason.
  • #1,270
  • Feb 11, 2014 8:50am Feb 11, 2014 8:50am
Quoting Gisela
{quote} Hello, Well I prefer take a trade with 10 pips of diference (considering 3 pips for spread), so that T5-103 GU has not triggered yet on my live account as high level on my broker is 1.6470 and the enter for me is 1.64723. Actually I have a sell position on 1.6462 as a countertrend with a SL on 1.64723. Many times a counter trend works very well, in this case we are waiting GU meets 1.6188 on 680 template, so im gioing to consider to trade this way on each up phase. Regards, Gisela BTW, I have a short trade on EU with 1.36943 as SL for same...

very well done i shorted at 3679... looking for this 3398 target ffs
  • #1,271
  • Feb 11, 2014 8:55am Feb 11, 2014 8:55am
Quoting Gisela
{quote} Hello, Well I prefer take a trade with 10 pips of diference (considering 3 pips for spread), so that T5-103 GU has not triggered yet on my live account as high level on my broker is 1.6470 and the enter for me is 1.64723. Actually I have a sell position on 1.6462 as a countertrend with a SL on 1.64723. Many times a counter trend works very well, in this case we are waiting GU meets 1.6188 on 680 template, so im gioing to consider to trade this way on each up phase. Regards, Gisela BTW, I have a short trade on EU with 1.36943 as SL for same...
Sounds similar to mine - my live account (the one the matters) didn't trigger I had .64723 like you and I have shorts activated down to .6233.
  • #1,272
  • Feb 11, 2014 8:57am Feb 11, 2014 8:57am


Quoting jaylovin
{quote} very well done i shorted at 3679... looking for this 3398 target ffs
  • #1,273
  • Feb 11, 2014 9:36am Feb 11, 2014 9:36am
I'm now long GU T5_103
  • #1,274
  • Feb 11, 2014 9:55am Feb 11, 2014 9:55am
Quoting hollowhead
{quote} It's a tough one, but I think we are going to have a volatile afternoon, so it may play out - I've been favouring the downside and the only reason I had the pending was to hedge against the shorts. I am still waiting for the 680 short to play out. Stay safe and if in doubt get out.
  • #1,275
  • Feb 11, 2014 10:03am Feb 11, 2014 10:03am
Quoting armyda
{quote}
Hoping we get a really good rejection from sellers around the 1.650-1.651 round number.
  • #1,276
  • Feb 11, 2014 11:26am Feb 11, 2014 11:26am
Hi Hollow

Not following GU but have been following EU and am in short now from 3674. I was also in earlier and closed at 3632 before it reversed back up.

I must say I love the method on the daily 680 timeframe. Great work to all who have contributed and I will be reading the blog again. I don't even know how I stumbled on it.

Best trading to all.

With regards

Axel
  • #1,277
  • Feb 11, 2014 11:54am Feb 11, 2014 11:54am
Quoting Axel
Hi Hollow Not following GU but have been following EU and am in short now from 3674. I was also in earlier and closed at 3632 before it reversed back up. I must say I love the method on the daily 680 timeframe. Great work to all who have contributed and I will be reading the blog again. I don't even know how I stumbled on it. Best trading to all. With regards Axel

good entry... eurusd is a $%^$%&^$... playing games - but looks like we may be lucky enough to see a new low to 3398 and more.. i am still in short.. goodluck
  • #1,278
  • Feb 11, 2014 4:15pm Feb 11, 2014 4:15pm
Well I got in late -- but better than not getting in. I am short at 1.3637 and I have an entry order waiting at 1.3627 and
another at 1.3627 -- all short of course. I really appreciate all you guys comments -- it really helps from a learning standpoint. Please keep up the great work.
  • #1,279
  • Feb 11, 2014 5:47pm Feb 11, 2014 5:47pm
Quoting tomthepoppop
Well I got in late -- but better than not getting in. I am short at 1.3637 and I have an entry order waiting at 1.3627 and another at 1.3627 -- all short of course. I really appreciate all you guys comments -- it really helps from a learning standpoint. Please keep up the great work.

manage your risk and i encourage people to take what i write with a pinch of salt... we can still shoot up tomorrow - its the name of the game if our shorts don't work... but fingers crossed and here's hoping it'll fall..

interestingly i found 3512 as a stubborn warning...
  • #1,280
  • Feb 11, 2014 9:09pm Feb 11, 2014 9:09pm
Quoting hollowhead
I'm now long GU T5_103
Was this because price moved up through 23.6% so you traded it up to 50%, or because price moved up to 50% so you are looking to target 76.4%?

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Would you also mind checking my chart is set up right.
Good Trading
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