Are support and resistance levels predetermined? | Page 80 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,581
  • Mar 6, 2014 10:25am Mar 6, 2014 10:25am
Quoting hollowhead
FYI - I will not be taking the next EU T5_103 long - I see 1.3898-1.3913 as strong resistance. 1.3898 is the trigger for a T4Y_680 and 1.3913 is the TP for T5_2_2.
T4Y_680 ..

RULE: Break of 23.6% Level -------> Target 50% , Break is 14 pips. Profit=180 pips.

so buystop 1.3912 --> TP : 1.4078
  • #1,582
  • Edited 10:51am Mar 6, 2014 10:37am | Edited 10:51am
Quoting na_r2000
{quote} T4Y_680 .. RULE: Break of 23.6% Level -------> Target 50% , Break is 14 pips. Profit=180 pips. so buystop 1.3912 --> TP : 1.4078
My apologies - you're right - not sure what happened with my counting !!

So, 1.3192 is T4Y_680 signal and 1.3913 is the TP for for T5_2_2.

That makes a powerful price!!
  • #1,583
  • Mar 6, 2014 11:03am Mar 6, 2014 11:03am
AU 103 TP ok
  • #1,584
  • Mar 6, 2014 11:19am Mar 6, 2014 11:19am
Quoting hollowhead
{quote} My apologies - you're right - not sure what happened with my counting !! So, 1.3192 is T4Y_680 signal and 1.3913 is the TP for for T5_2_2. That makes a powerful price!!

i have 3920 from something not abbonacci... so i think if that level holds then we might see a big swing down before up... but targets upside are already triggered in the 1.4xx region... i too will be looking for sells higher up now... 3920 is also related to 3398...
  • #1,585
  • Mar 6, 2014 1:30pm Mar 6, 2014 1:30pm
Quoting jaylovin
{quote} i have 3920 from something not abbonacci... so i think if that level holds then we might see a big swing down before up... but targets upside are already triggered in the 1.4xx region... i too will be looking for sells higher up now... 3920 is also related to 3398...
I agree Jay - EU has much further up to go, but I can't shake off the T4Y_680 short that hasn't been met. As always an ideal scenario for me would be reaching the 1.39 level and then pulling back to the 680 level and then shooting 1.4xxx levels.
  • #1,586
  • Mar 6, 2014 1:50pm Mar 6, 2014 1:50pm
Quoting hollowhead
{quote} I agree Jay - EU has much further up to go, but I can't shake off the T4Y_680 short that hasn't been met. As always an ideal scenario for me would be reaching the 1.39 level and then pulling back to the 680 level and then shooting 1.4xxx levels.

I may short at 1.3920 with a small stop. If wrong I Will look for 1.40xx level for another swing shirt. There are more levels in between but yes itll drop when it's ready to screw bulls.. No shorting now it won't fall IMO. Not from here
  • #1,587
  • Mar 6, 2014 1:56pm Mar 6, 2014 1:56pm
Quoting jmss59
Good morning, on eur-usd to completed a phase of 55 pips {image}
Hi Jmss59, I was wondering if this is still your range for EU or has it changed... Zo

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Staircase down to ride the elevator up.....wait..wait..wait for it
  • #1,588
  • Mar 6, 2014 2:31pm Mar 6, 2014 2:31pm
Quoting jaylovin
{quote} I may short at 1.3920 with a small stop. If wrong I Will look for 1.40xx level for another swing shirt. There are more levels in between but yes itll drop when it's ready to screw bulls.. No shorting now it won't fall IMO. Not from here
It just needs to push higher, then all those shorts will reverse convinced its going to print 1.4xxx. Then it will drop. Trapped bulls will panic as it plummets to 1.34, around about which time everyone will be calling for 1.29-1.3 and load more shorts, then it will shoot up again and so on...

I can see a lot of traders getting hurt, but the writing seems to be on the wall...
  • #1,589
  • Mar 6, 2014 5:42pm Mar 6, 2014 5:42pm
Quoting hollowhead
{quote} It just needs to push higher, then all those shorts will reverse convinced its going to print 1.4xxx. Then it will drop. Trapped bulls will panic as it plummets to 1.34, around about which time everyone will be calling for 1.29-1.3 and load more shorts, then it will shoot up again and so on... I can see a lot of traders getting hurt, but the writing seems to be on the wall...
Hollowhead, I couldn't have said any better myself





Zo
Staircase down to ride the elevator up.....wait..wait..wait for it
  • #1,590
  • Mar 7, 2014 5:26am Mar 7, 2014 5:26am
I'm out of EU longs (my old aversion to round numbers) - remember Bobi implies he allows 7-14 pip shortfall in reaching targets. So I have unlocked my hedge and I'm now holding shorts. If it breaks goes further and holds beyond 1.392, I will probably hedge those shorts again up to 1.4078
  • #1,591
  • Mar 7, 2014 5:33am Mar 7, 2014 5:33am
103 tmpl long EU
  • #1,592
  • Edited 6:17am Mar 7, 2014 5:40am | Edited 6:17am
EU long T5_2_2 TP met

EDIT: Bit premature - 5 pips short actually.
  • #1,593
  • Mar 7, 2014 9:00am Mar 7, 2014 9:00am
Quoting hollowhead
EU long T5_2_2 TP met EDIT: Bit premature - 5 pips short actually.
Bobi has told for calculator 7 pips shorter than target is acceptable may be for these templates this rule is acceptable
  • #1,594
  • Mar 7, 2014 9:04am Mar 7, 2014 9:04am
Quoting mehmed92
{quote} Bobi has told for calculator 7 pips shorter than target is acceptable may be for these templates this rule is acceptable
Quoting hollowhead
.... remember Bobi implies he allows 7-14 pip shortfall in reaching targets. ...
  • #1,595
  • Mar 7, 2014 9:30am Mar 7, 2014 9:30am
Where did he say shortfall??
  • #1,596
  • Mar 7, 2014 9:37am Mar 7, 2014 9:37am
Quoting jaylovin
Where did he say shortfall??
Hang on - let me find it
  • #1,597
  • Mar 7, 2014 9:43am Mar 7, 2014 9:43am
Quoting jaylovin
Where did he say shortfall??
Found it

Quoting aebab
{quote} You should be familiar with 7-14 digits . sometimes the target goes around 7-14 pips to the target. for the first move , price was traveling from lower phase and from below 0% , but for the next moves , if you look better , you will see that they have not been coming from below 0% so we can not take any position based on 594 template rules
  • #1,598
  • Mar 8, 2014 3:47am Mar 8, 2014 3:47am
If you look at T4Y-680 with TY-1130 you will find T4Y-680 is triggered long and TP now will on T4Y-1130 is 1.4526. This is close for Bobis 1.4455
  • #1,599
  • Mar 8, 2014 5:07am Mar 8, 2014 5:07am
Quoting Magnat
If you look at T4Y-680 with TY-1130 you will find T4Y-680 is triggered long and TP now will on T4Y-1130 is 1.4526. This is close for Bobis 1.4455
Hi Magnat - I don't see 1.4526 - we already have a T4Y_1130 signal with TP 1.4036. I haven't done my weekly analysis yet but based on last weeks and what I remember of yesterdays action, this is how I see things

We have a T4Y_1130 TP = 1.4036
There is now a T4Y_680 long TP = 1.4078.

If - it goes 59pips further (1.4137) we will have a T4Y_680 Extension tradee TP=1.4257
The next big signal will be a T5_1030 at 1.4314 (TP 1.4831)

So I see major resistance at 1.39193 (the close of T5_2_2 (met) and trigger of T4Y_680)
and potential reversal areas between 1.4078 & 1.4137
And also between 1.4257 & 1.4314.
  • #1,600
  • Edited 5:50pm Mar 8, 2014 12:15pm | Edited 5:50pm
My weekly analysis below - let me know if I missed anything.

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