Are support and resistance levels predetermined? | Page 72 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,421
  • Feb 20, 2014 12:18pm Feb 20, 2014 12:18pm
Quoting HanHanid
{quote} yup, I know I won't go in a straight line, but I go the other direction, and won't make it too. so sometimes I doubt whether there's something wrong...
All I can say is that Bobi comments that the 680 and 1130 templates are the most reliable he has created.

It's been suggested several times here not to trade the larger templates but just use them as a bias and trade the smaller templates in that direction. So in GU we are ranging (2 contrary signals) and AU we are bullish.

I won't try and convince anyone that price will go a particular place - I don't see enough to be that bold. All we can do is trade what we see and believe and do it within the tolerances of our own MM principles.

Best of luck HanHanid
  • #1,422
  • Feb 20, 2014 2:47pm Feb 20, 2014 2:47pm
Quoting hollowhead
{quote} Not that I know of. Personally I am never sure why people want an EA (unless they are scalping ticks in seconds). IMHO there is too much analysis required across the templates for an EA to be successful. And as there is no clear, accepted or tested MM I am not sure of the benefits. If we had baselines for many pairs then an indicator alert might be helpful (but there is already an 'alerter' horizontal line indicator you can use), but with only three pairs a handful of templates most of which (except the T5_103) signal very occasionally I'm...
HH, Thanks for your insight. I totally agree.
  • #1,423
  • Edited 10:36pm Feb 20, 2014 3:00pm | Edited 10:36pm
Quoting hollowhead
I'll try again. I've been thinking about other ways to trade abonacci if you are unable to hedge. So how about this... 1. Trade only T4F template (and T5_103 under certain conditions). 2. Enter on the 'setup trade' (ie for a long, price comes from 76.4% of lower phase, and enter of the break 38.2% (by say 10 pips). Set a target for 74 pips (the 76.4%). 3. Set your SL for 10pips below the 100% (94 pips or so) 4. Put a pending Sell at the same place as your SL (or as close as you broker allows) with a TP of 167 pips (the 23.6%). You should either...
Tank you so much
  • #1,424
  • Feb 21, 2014 3:55am Feb 21, 2014 3:55am
GU reverse?
  • #1,425
  • Feb 21, 2014 4:04am Feb 21, 2014 4:04am
Possibly. The baseline level is proving strong support. The long T4Y_680 is the closest target, but if the baseline level breaks convincingly, then I can see it dropping down to the short T4Y_680 level. We'll just have to wait and see which way....
  • #1,426
  • Feb 21, 2014 12:53pm Feb 21, 2014 12:53pm
Quoting hollowhead
{quote} Hi - I think the PA in the preceding year counts. If you look at a number of the example charts Bobi used he seems to do that. Below is an example of the T5_2_2 that Bob uses right from the begining of 2013. He was clearly factoring in the move down in 2012 preceding it. {quote} I know some here don't agree and that's fine,ibut on the larger templates I think it is logical. Think of it this way. The levels are set by the previous years HLC. So if last years PA sets the levels, does it not stand to reason that it impacts how we trade the...




Hollowhead I totally agree with you!!!


Zo
Staircase down to ride the elevator up.....wait..wait..wait for it
  • #1,427
  • Feb 21, 2014 3:15pm Feb 21, 2014 3:15pm
hi to all...what do you think about eu/usd in long term? i thinkthe trend is up and price must see 4220 ....!
  • #1,428
  • Feb 21, 2014 4:09pm Feb 21, 2014 4:09pm
Quoting ichinachi
hi to all...what do you think about eu/usd in long term? i thinkthe trend is up and price must see 4220 ....!
Depends on your definition of long term But here's what I think

Quoting hollowhead
{quote} So, the way I see it is as follows. We have a confirmed T4Y_680 short TP 1.33980 But We have a confirmed long T5_2_2 TP = 1.39193 We also have a T4Y_1130 TP = 1.4036 This will activate a T4Y_680 TP = 1.4078. IF - it goes 59pips further (1.4137) we will have a T4Y Extension TP=1.4257 The next big signal will be a T5_1030 at 1.4314 TP 1.4831 So I see potential top reversal areas between 1.4078 and 1.4137 And also between 1.4257 and 1.4314. Please note - this is only based on what I can see from the templates we have - Bobi has many others...
In short - the templates we have here point to 1.4257 (but also 1.3398). Which one first? Who knows!!
  • #1,429
  • Feb 21, 2014 4:58pm Feb 21, 2014 4:58pm
thank you hollowhead for your response...i just know bobi system is perfect...for example for this month keypoint in whole month (1.3672)broked and price must see 1.3772 and if you look the highest high in 19.2.2014 is 1.3772 !!!!
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  • #1,430
  • Feb 22, 2014 2:58am Feb 22, 2014 2:58am
Here's my weekly analysis.

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  • #1,431
  • Feb 22, 2014 5:05pm Feb 22, 2014 5:05pm
Quoting hollowhead
Here's my weekly analysis. {image}{image}{image}
Hi Steve
In my weekly analysis I also have
1-EUR/USD T5_1_103 Bearish TP=1.36613
2-AUD/USD T4F_220 Bullish TP=.91691
  • #1,432
  • Feb 22, 2014 7:55pm Feb 22, 2014 7:55pm
[quote=hollowhead;7297901]{quote} Depends on your definition of long term But here's what I think {quote} In short - the templates we have here point to 1.4257 (but also 1.3398). Which one first? Who knows!![/quote


Hi Hollowhead and ichinachi.... I'm gonna take a stab at this and say 4257 comes first. Hope your enjoying your weekend.






Zo
Staircase down to ride the elevator up.....wait..wait..wait for it
  • #1,433
  • Feb 23, 2014 1:27am Feb 23, 2014 1:27am
Quoting mehmed92
{quote} Hi Steve In my weekly analysis I also have 1-EUR/USD T5_1_103 Bearish TP=1.36613 2-AUD/USD T4F_220 Bullish TP=.91691
Hi mehmed92

You're right about the the EU T5_103 - I forgot to write that one down!!

I don't see a T4Y though as price hasn't didn't cross below the 61.8% before breaking the 100% by 10%.

Steve

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  • #1,434
  • Feb 23, 2014 1:56am Feb 23, 2014 1:56am
[quote=eurozo;7298598]
Quoting hollowhead
{quote} Depends on your definition of long term But here's what I think {quote} In short - the templates we have here point to 1.4257 (but also 1.3398). Which one first? Who knows!![/quote Hi Hollowhead and ichinachi.... I'm gonna take a stab at this and say 4257 comes first. Hope your enjoying your weekend. Zo
You could be right Zo. But I'm hoping it pulls back to 1.3398 and then sky rockets - but that's just becuase it would be neater for me (and easier on the cash flow) if all bearish signals completed and we only had trades signalled one way.
  • #1,435
  • Feb 23, 2014 7:32am Feb 23, 2014 7:32am
Quoting ichinachi
thank you hollowhead for your response...i just know bobi system is perfect...for example for this month keypoint in whole month (1.3672)broked and price must see 1.3772 and if you look the highest high in 19.2.2014 is 1.3772 !!!! {image}
Hi ichinachi

Calculator??!!!

Chance to get that? where? how?

unlearning is difficult than learning-that is the key!!
  • #1,436
  • Feb 23, 2014 9:04am Feb 23, 2014 9:04am
Quoting hollowhead
{quote} Hi mehmed92 You're right about the the EU T5_103 - I forgot to write that one down!! I don't see a T4Y though as price hasn't didn't cross below the 61.8% before breaking the 100% by 10%. Steve {image}
Hi Steve

the Price broke %61.8=.89170 at 2014/02/10 after that traveled above %100 more than 10 pips the rule of for this Template is that price should falls below %61.8 and it is not necessary travelling from above %100 and break %61.8
  • #1,437
  • Feb 23, 2014 9:12am Feb 23, 2014 9:12am
Quoting sram
{quote} Hi ichinachi Calculator??!!! Chance to get that? where? how?
Hi sram. The calculator was introduced as part of the bobi's other thread. Someone there should be able to tell you how to get a copy. I'm sure there'll be a link or something.
  • #1,438
  • Feb 23, 2014 10:06am Feb 23, 2014 10:06am
[quote=hollowhead;7298695]
Quoting eurozo
{quote} You could be right Zo. But I'm hoping it pulls back to 1.3398 and then sky rockets - but that's just becuase it would be neater for me (and easier on the cash flow) if all bearish signals completed and we only had trades signalled one way.
Eu t103 break didn't come from 38.2 of the upper phase so I don't think it's a valid bearish signal to 3661?
  • #1,439
  • Feb 23, 2014 10:51am Feb 23, 2014 10:51am
Quoting mehmed92
{quote} Hi Steve the Price broke %61.8=.89170 at 2014/02/10 after that traveled above %100 more than 10 pips the rule of for this Template is that price should falls below %61.8 and it is not necessary travelling from above %100 and break %61.8
Hi Mehmed - If I understand what your referring to correctly I still don't see a valid trade. Price needs to have come from at least the 23.6% level in the phase above - but it only came from the 100%.
  • #1,440
  • Feb 23, 2014 10:54am Feb 23, 2014 10:54am
[quote=jaylovin;7298908]
Quoting hollowhead
{quote} Eu t103 break didn't come from 38.2 of the upper phase so I don't think it's a valid bearish signal to 3661?
Hi Jay - price only needs to have come from 23.6% level.

See Post 93
Quoting aebab
Introduction of T5_103F Template Its time to introduce one of the templates that is very useful for short-medium term trading. Length of each phase= 103 pips RULE: Break of 38.2% Level -------> Target 47 pips Break of 61.8% Level -------> Target 47 Pips We can say 38.2% is broken when price is traveling from 76.4% of lower phase and rises 7 pips above 38.2% level of current phase. We can say 61.8% is broken when price is traveling from 23.6% of upper phase and falls 7 pips below 61.8% level of current phase....
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