Are support and resistance levels predetermined? | Page 67 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,321
  • Feb 13, 2014 7:45am Feb 13, 2014 7:45am
Quoting armyda
103 templ eu long
My broker gave a high of 1.36906 - signal trigger is 1.36913, so I make it 0.7 pips shy - 2 pips added spread kept me out as well.
  • #1,322
  • Feb 13, 2014 8:24am Feb 13, 2014 8:24am
Quoting hollowhead
{quote} My broker gave a high of 1.36906 - signal trigger is 1.36913, so I make it 0.7 pips shy - 2 pips added spread kept me out as well.
Hi Steve
babi introduced his system in another site about 2 years ago in that time he said he has designed the system with Fxpro broker data and he said to be correct we should take data from this broker but not for real
  • #1,323
  • Feb 13, 2014 8:35am Feb 13, 2014 8:35am
Quoting mehmed92
{quote} Hi Steve babi introduced his system in another site about 2 years ago in that time he said he has designed the system with Fxpro broker data and he said to be correct we should take data from this broker but not for real
Fair enough - but on my FXPRO feed price still only reached.1.36912 which still makes it 0.1 pip short (not including spread)!! :nerd:
  • #1,324
  • Feb 13, 2014 4:01pm Feb 13, 2014 4:01pm
Quoting hollowhead
{quote} Fair enough - but on my FXPRO feed price still only reached.1.36912 which still makes it 0.1 pip short (not including spread)!! :nerd:

not convinced... tomorrow we fall... mofu eu... of wrong i wont trade for a while
  • #1,325
  • Feb 13, 2014 4:21pm Feb 13, 2014 4:21pm
Quoting jaylovin
{quote} not convinced... tomorrow we fall... mofu eu... of wrong i wont trade for a while
A Friday sell off/profit taking would be most welcome.
  • #1,326
  • Feb 13, 2014 5:07pm Feb 13, 2014 5:07pm
Quoting hollowhead
{quote} A Friday sell off/profit taking would be most welcome.

its looks so bullish... i favour a retreat... people including me are looking for 3745.. this is too obvious?
  • #1,327
  • Edited 3:38am Feb 14, 2014 1:11am | Edited 3:38am
EU T5_103 long order filled.
  • #1,328
  • Feb 14, 2014 1:57am Feb 14, 2014 1:57am
Target 3728 And then Target 3434
  • #1,329
  • Feb 14, 2014 3:36am Feb 14, 2014 3:36am
GU T5_103 long filled and completed
  • #1,330
  • Feb 14, 2014 3:56am Feb 14, 2014 3:56am
Quoting hollowhead
{quote} Fair enough - but on my FXPRO feed price still only reached.1.36912 which still makes it 0.1 pip short (not including spread)!! :nerd:
T5_103 EurUsd is now long.
  • #1,331
  • Feb 14, 2014 4:02am Feb 14, 2014 4:02am
Quoting hollowhead
EU T5_103 long order filled.
Sorry Hollowhead. I somehow missed your post. Didn't mean to be redundant.
  • #1,332
  • Feb 14, 2014 4:11am Feb 14, 2014 4:11am
Quoting biganc
{quote} Sorry Hollowhead. I somehow missed your post. Didn't mean to be redundant.
Not a problem - these don't normally make me nervous, but EU still has to drop to 1.3455 to complete the 680, so I will bail early near TP if it is grinding there. I don't want to be caught with a hedge all the way down, to have to carry it back again - that could take weeks and the swap cost would be annoying (and pointless).

I've been left holding and AU 103 short from the bottom - it's my own stupid fault, I shouldn't have taken it and its going to cause me problems as I don't see AU going back down there for a long time (I could and hope I'm wrong on that.)
  • #1,333
  • Feb 14, 2014 4:24am Feb 14, 2014 4:24am
Quoting hollowhead
{quote} Not a problem - these don't normally make me nervous, but EU still has to drop to 1.3455 to complete the 680, so I will bail early near TP if it is grinding there. I don't want to be caught with a hedge all the way down, to have to carry it back again - that could take weeks and the swap cost would be annoying (and pointless). I've been left holding and AU 103 short from the bottom - it's my own stupid fault, I shouldn't have taken it and its going to cause me problems as I don't see AU going back down there for a long time (I could and...
Hollow,

Doesn't the Eu have to go to 1.33980 to reach the 50% level for the 680 to complete?
  • #1,334
  • Feb 14, 2014 4:28am Feb 14, 2014 4:28am
I do get a little nervous when I take a 103 trade and it is against the 680. I'm a lot more comfortable when
the 103 is going in the direction of the 680.
  • #1,335
  • Feb 14, 2014 4:43am Feb 14, 2014 4:43am
Quoting biganc
I do get a little nervous when I take a 103 trade and it is against the 680. I'm a lot more comfortable when the 103 is going in the direction of the 680.
Me too - I need to pay more attention to my own analysis!! I really screwed up on AU. I knew that if the T5_103 short completed it would trigger another template lower - like a fool I ignored the 965 long signal and factored in the commentary that the RBA wants to push the AU down to 0.8500 and that it's been in a clear downtrend for a long while, so I thought that it was going to break. It didn't break, it went up, and we now have targets higher to 0.93.

So can T5_103 fail? - I think it did there and I'm not sure it's going back now - it probably will at some point, but I don't know how long I will carry the trade for - I'll have to either take the loss or trade my way out of it somehow - will think about how over the weekend.
  • #1,336
  • Feb 14, 2014 4:54am Feb 14, 2014 4:54am
Quoting hollowhead
{quote} Not a problem - these don't normally make me nervous, but EU still has to drop to 1.3455 to complete the 680, so I will bail early near TP if it is grinding there. I don't want to be caught with a hedge all the way down, to have to carry it back again - that could take weeks and the swap cost would be annoying (and pointless). I've been left holding and AU 103 short from the bottom - it's my own stupid fault, I shouldn't have taken it and its going to cause me problems as I don't see AU going back down there for a long time (I could and...
Hi Steve
Do you mean AU will be long for a long time?
  • #1,337
  • Feb 14, 2014 5:10am Feb 14, 2014 5:10am
Potentially - of course we could range for a while.
But there is a T5_2_2 signal to 0.92103.
On the way to that target will trigger a T4Y_680 buy (0.9199) to 0.9365.
On the way to there will trigger a T5_103(x10) - TP for that will 0.96607 (haven't tracked it any further than that)

So, I see a long term upside target of 0.96607
  • #1,338
  • Feb 14, 2014 5:50am Feb 14, 2014 5:50am
There is now a T4Y_680 long on GU - tp 1.6860.
  • #1,339
  • Feb 14, 2014 6:01am Feb 14, 2014 6:01am
Quoting hollowhead
There is now a T4Y_680 long on GU - tp 1.6860.
TP 1.6868 at broker fxpro
  • #1,340
  • Feb 14, 2014 6:12am Feb 14, 2014 6:12am
Quoting na_r2000
{quote} TP 1.6868 at broker fxpro
Fair enough.
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