Are support and resistance levels predetermined? | Page 65 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,281
  • Feb 11, 2014 10:42pm Feb 11, 2014 10:42pm
this night i gone long uad usd tp 0,91023 tmpl 103
  • #1,282
  • Feb 11, 2014 10:42pm Feb 11, 2014 10:42pm
Quoting aud
{quote} 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%? {image} Would you also mind checking my chart is set up right.
No - because price came from the 76% of the phase below, moved up and broke the 38% line by 7pips (entry point) and Tp is 40 pips from there. Your chart looks right.
  • #1,283
  • Feb 11, 2014 10:50pm Feb 11, 2014 10:50pm
Quoting hollowhead
{quote} No - because price came from the 76% of the phase below, moved up and broke the 38% line by 7pips (entry point) and Tp is 40 pips from there. Your chart looks right.
good morning Hollo
your sentiment about EU is short?
  • #1,284
  • Feb 11, 2014 11:36pm Feb 11, 2014 11:36pm
Quoting armyda
{quote} good morning Hollo your sentiment about EU is short?
Morning Armyda - yes - I am currently favouring shorts until the T4Y_680 is complete. My long term view is still bullish until it is in the 1.4s, but short/medium I am a bear.
  • #1,285
  • Feb 11, 2014 11:39pm Feb 11, 2014 11:39pm
Quoting hollowhead
{quote} Morning Armyda - yes - I am currently favouring shorts until the T4Y_680 is complete. My long term view is still bullish until it is in the 1.4s, but short/medium I am a bear.
  • #1,286
  • Feb 12, 2014 2:31am Feb 12, 2014 2:31am
GU tp
  • #1,287
  • Feb 12, 2014 2:35am Feb 12, 2014 2:35am
I think the 103 template is the best way in order to trading short term
  • #1,288
  • Feb 12, 2014 3:06am Feb 12, 2014 3:06am
Quoting armyda
GU tp

i saw this but didn't trade it... i should have though this pair is flying... i have a grudge with EU... so still short on that pair though i am not sure what will happen
  • #1,289
  • Feb 12, 2014 3:13am Feb 12, 2014 3:13am
Quoting jaylovin
{quote} i saw this but didn't trade it... i should have though this pair is flying... i have a grudge with EU... so still short on that pair though i am not sure what will happen
I'm still sure that GU has to pullback again. There is an uncompleted T4T_680 and T5_103 short, which I am convinced will be done at sometime - like EU timing is the issue though
  • #1,290
  • Feb 12, 2014 3:19am Feb 12, 2014 3:19am
Quoting hollowhead
{quote} I'm still sure that GU has to pullback again. There is an uncompleted T4T_680 and T5_103 short, which I am convinced will be done at sometime - like EU timing is the issue though

1.6770 has been initiated on GU now also... bear in mind EU has a 3919 target which does actually have a relationship with 3398 which is another target... people are long... many are...

bobi used to say that t103 was very reliable and targets do hit which weve seen... but he never mentioned if they really do fail even after going 3 phases the opposite direction...
  • #1,291
  • Feb 12, 2014 3:26am Feb 12, 2014 3:26am
Quoting jaylovin
{quote} 1.6770 has been initiated on GU now also... bear in mind EU has a 3919 target which does actually have a relationship with 3398 which is another target... people are long... many are... bobi used to say that t103 was very reliable and targets do hit which weve seen... but he never mentioned if they really do fail even after going 3 phases the opposite direction...
He did mention that the 103 fails. When asked what the letters in the template mean he pointed out that the F at the end means it can fail. Whereas I think the F in the middle of TF4, means the trade is based on a fail.

The only time I think they fail is when you take them when there isn't a larger template target beyond them. If there is say a 680 or 1130 target further up or down, then I figure the 103 has to complete in order to reach those targets - but as we know it could take a while.
  • #1,292
  • Feb 12, 2014 3:27am Feb 12, 2014 3:27am
Quoting jaylovin
{quote} 1.6770 has been initiated on GU now also... bear in mind EU has a 3919 target which does actually have a relationship with 3398 which is another target... people are long... many are... bobi used to say that t103 was very reliable and targets do hit which weve seen... but he never mentioned if they really do fail even after going 3 phases the opposite direction...
BTW - when most retailers are long, I get more comfortable with my shorts and vice versa
  • #1,293
  • Feb 12, 2014 3:30am Feb 12, 2014 3:30am
Quoting hollowhead
{quote} BTW - when most retailers are long, I get more comfortable with my shorts and vice versa

yes me too... thats why i hold onto shorts and while writing this T3 has been triggered to the downside thank god
  • #1,294
  • Feb 12, 2014 3:35am Feb 12, 2014 3:35am
Quoting jaylovin
{quote} yes me too... thats why i hold onto shorts and while writing this T3 has been triggered to the downside thank god
I don't know anything about T3 - but I'm glad
  • #1,295
  • Feb 12, 2014 3:39am Feb 12, 2014 3:39am
EU T5_103 short TP 1.35587
  • #1,296
  • Feb 12, 2014 3:41am Feb 12, 2014 3:41am
Quoting hollowhead
{quote} I don't know anything about T3 - but I'm glad

me too...do you have any shorts running from GU? i am thinking to enter a short now...
  • #1,297
  • Feb 12, 2014 3:43am Feb 12, 2014 3:43am
Quoting jaylovin
{quote} me too...do you have any shorts running from GU? i am thinking to enter a short now...
Two at the moment - one to 1.6233 and the other 1.6192. I will also take 103s on the way down.
  • #1,298
  • Feb 12, 2014 3:48am Feb 12, 2014 3:48am
Quoting hollowhead
{quote} Two at the moment - one to 1.6233 and the other 1.6192. I will also take 103s on the way down.

i will hold off on GU... its probably a really good shorting place right now but i will wait until my euro trade clears...
  • #1,299
  • Feb 12, 2014 3:50am Feb 12, 2014 3:50am
Quoting jaylovin
{quote} yes me too... thats why i hold onto shorts and while writing this T3 has been triggered to the downside thank god
Jay - out of interest what is the T3 target?
  • #1,300
  • Feb 12, 2014 3:56am Feb 12, 2014 3:56am
Quoting hollowhead
{quote} Jay - out of interest what is the T3 target?

3580 for sure...
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