Are support and resistance levels predetermined? | Page 75 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,481
  • Feb 26, 2014 8:49am Feb 26, 2014 8:49am
Quoting hollowhead
{quote} EU Target met.
Maybe, just maybe EU is in route to 1.3398. Im going to leave running the trade...
  • #1,482
  • Feb 26, 2014 8:53am Feb 26, 2014 8:53am
Quoting Gisela
{quote} Maybe, just maybe EU is in route to 1.3398. Im going to leave running the trade...
I hope so too. I still have the T4Y_680 short open, which I would REALLY like met, before it advances up again.

I do see this as a pullback in a longer term bull trend - it would be great if it would pull back far enough to hit that 1.3398 and then continue up.
  • #1,483
  • Feb 26, 2014 8:57am Feb 26, 2014 8:57am
GU is on powerful support at T5_1_103
  • #1,484
  • Feb 26, 2014 3:39pm Feb 26, 2014 3:39pm
Quoting Gisela
{quote} Maybe, just maybe EU is in route to 1.3398. Im going to leave running the trade...


Quoting hollowhead
{quote} I hope so too. I still have the T4Y_680 short open, which I would REALLY like met, before it advances up again. I do see this as a pullback in a longer term bull trend - it would be great if it would pull back far enough to hit that 1.3398 and then continue up.

Hi Hollowhead and Gisela.... EU came O so close to breaking the 61.8 on the T4F_220, but stubbornly held out. It's heading back up now but there is a lot of data being released during the European session which could cause the break depending on the outcome of the numbers. Good luck to you both



Zo
Staircase down to ride the elevator up.....wait..wait..wait for it
  • #1,485
  • Feb 26, 2014 3:54pm Feb 26, 2014 3:54pm
Quoting eurozo
Quoting Gisela {quote} Maybe, just maybe EU is in route to 1.3398. Im going to leave running the trade... {quote} Hi Hollowhead and Gisela.... EU came O so close to breaking the 61.8 on the T4F_220, but stubbornly held out. It's heading back up now but there is a lot of data being released during the European session which could cause the break depending on the outcome of the numbers. Good luck to you both Zo
Hey Zo

It is a significant level, but I have to say I'm not sure its because of the T4F template. Reason I don't see it on the T4F is that price hasn't traveled from the 23.6% in the upper phase. Also, it would only be a signal for the setup action, not the actual reversal Bobi designed the template for.

But, the level is the 50% on the T5_2_2. Price crossed that line north to give a bullish trend targeting the 76.4% (1.39193). So this could be a retest of that level - effectively resistance turning support (I hope not).
  • #1,486
  • Feb 26, 2014 4:11pm Feb 26, 2014 4:11pm
Hi Hollowhead...... Yes your right it did not come from the 23.6% of the upper phase. You know I'm in the bullish camp of 4257 before 3398 but 3772 has proved to be quite a resistance level lol and I totally forgot about that template T5_2_2. Thanks for reminding me of that one









Zo
Staircase down to ride the elevator up.....wait..wait..wait for it
  • #1,487
  • Feb 26, 2014 4:20pm Feb 26, 2014 4:20pm
Quoting eurozo
Hi Hollowhead...... Yes your right it did not come from the 23.6% of the upper phase. You know I'm in the bullish camp of 4257 before 3398 but 3772 has proved to be quite a resistance level lol and I totally forgot about that template T5_2_2. Thanks for reminding me of that one Zo
Well I'm bullish on EU longer term, so I favour the 3398 as a pullback and I can see EU going to 1.44 as Bobi does. But I could well be biased because it would make it easier on my account to do it that way . I do see more upside template triggers that downside, hence my tendency to short first and complete those targets.

But in the end - we both see the targets either side, and one way or another they'll get hit!!

I'm just staying up to see what happens with AU during the news in 10mins and then off to sleep.
  • #1,488
  • Feb 26, 2014 4:22pm Feb 26, 2014 4:22pm
A little spike down on AU to complete the short T5_103, and then resume upwards would be perfect!!
  • #1,489
  • Feb 26, 2014 4:31pm Feb 26, 2014 4:31pm
Quoting hollowhead
A little spike down on AU to complete the short T5_103, and then resume upwards would be perfect!!
There's the down T5_103 Short TP Hit.

Now back up please!!
  • #1,490
  • Feb 27, 2014 2:05am Feb 27, 2014 2:05am
Morning (afternoon/evening) all

Just for your radar. The AU on T4F has come from above the 23.6% level and crossed below the 61.8%. If price reverses and crosses 10pips higher than the 100% (0.9011), then we have T4F trade on TP - 0.91691.

That trade will be in line with T4Y_1130 and T5_2_2 bull targets already set.
  • #1,491
  • Feb 28, 2014 2:04am Feb 28, 2014 2:04am
EU 105 long
  • #1,492
  • Edited 3:10am Feb 28, 2014 2:56am | Edited 3:10am
sell position e/u 1.3792,...s/l: 1.3813 tp:3460...now price is 3793
  • #1,493
  • Feb 28, 2014 3:11am Feb 28, 2014 3:11am
Quoting ichinachi
sell position e/u 1.3792,...s/l: 1.3812 tp:3460...now price is 3793

I think it's going much higher...
  • #1,494
  • Feb 28, 2014 4:02am Feb 28, 2014 4:02am
Quoting jaylovin
{quote} I think it's going much higher...
GU T5_103 short - TP 1.66457

Things are getting messy now!!
  • #1,495
  • Feb 28, 2014 4:04am Feb 28, 2014 4:04am
Quoting armyda
EU 105 long
Sorry it was 103 LONG EU
  • #1,496
  • Feb 28, 2014 4:06am Feb 28, 2014 4:06am
Calculator and template intraday, spectacular
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp-usd 28-02-14.png Size: 62 KB
Click to Enlarge Name: gbp-usd 28-02-14 1.png Size: 54 KB
  • #1,497
  • Feb 28, 2014 4:14am Feb 28, 2014 4:14am
Quoting jmss59
Calculator and template intraday, spectacular {image} {image}
This calculator is just for EUR not for another pair like GBP
  • #1,498
  • Feb 28, 2014 4:21am Feb 28, 2014 4:21am
set where to stand
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-usd 28-02-14 2.png Size: 36 KB
  • #1,499
  • Feb 28, 2014 4:55am Feb 28, 2014 4:55am
Quoting mehmed92
{quote} This calculator is just for EUR not for another pair like GBP
it works, but have a little diffrent rules because the calculations are the same ..for example you have template 680 pips for several pairs with different base line because hlc of pairs are different...so as you know bobi introduced euro behavior by steps 68 pip! and more calculation in calculator have steps 59 and 68 pips...
  • #1,500
  • Feb 28, 2014 5:04am Feb 28, 2014 5:04am
Quoting ichinachi
{quote} it works, but have a little diffrent rules because the calculations are the same ..for example you have template 680 pips for several pairs with different base line because hlc of pairs are different...so as you know bobi introduced euro behavior by steps 68 pip! and more calculation in calculator have steps 59 and 68 pips...
Do you calculate for GBP like EUR for example do you use HLC for year and month and day to calculate GBP
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