Are support and resistance levels predetermined? | Page 82 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,621
  • Mar 10, 2014 6:53am Mar 10, 2014 6:53am
Quoting Wolf_Wicked
{quote} \ {image} Not averaging down on the hizzle and cheating on a Wolf I trust? http://www.youtube.com/watch?v=tNDcEaC1xkg You now have 4 weeks to be a little cooler.. be cool (er)
I'd never cheat a wolf. Whether I average down is a matter of perspective I suppose. I hedge, and I do take signals that will effectively add to a losing trade - I don't think of it as averaging down as each trade is taken within its own right and part of a broader picture.
  • #1,622
  • Mar 10, 2014 6:55am Mar 10, 2014 6:55am
Quoting hollowhead
{quote} I'd never cheat a wolf. Whether I average down is a matter of perspective I suppose. I hedge, and I do take signals that will effectively add to a losing trade - I don't think of it as averaging down as each trade is taken within its own right and part of a broader picture.
I guess we'll see in 4 weeks time

don't.. fuck on me
Howlin' at the Moon on the Roof
  • #1,623
  • Mar 10, 2014 6:58am Mar 10, 2014 6:58am
Quoting Evilmaster
{quote} Hi Hollow, Thanks for your reply. I understand all methods have a win/loss rate, as long as the winning one is more, it doesn't matter which method it is. I've uploaded my work of Support & Resistance from previous Top and Bottom, Volume Studies, a record of a few key events, Heikin Ashi for easy Elliott Waves counting, 2 Channels TL. Almost all of the key turning points coincides with T5_103F Fibs levels, I don't know why too, its interesting. Im not sure if its of help to any but I hope it can be used in together and it can help anyone...
Thanks for the chart Evilmaster. It love seeing the abonacci levels line up with another systems levels, or obvious visual SR. There are so many ways to trade profitably and enough pips for everyone to benefit. Good luck back at ya!!
  • #1,624
  • Mar 10, 2014 12:39pm Mar 10, 2014 12:39pm
Evil master...

Hello... welcome to the thread... conflicting signals do happen... Bobi has spoken of some templates being stronger than others - mainly the higher tf ones... the thing I like about bobi's system is the accuracy of PA... look last week 61.8% on T103 didn't break to the downside at 1.3708... instead we shot up to 1.3915 now with an outstanding target of 3831 at the time..

a crazy shocking eurusd move in december was when we spiked up to 1.3893... you know on T103 again a break of 3846 triggered a target of 1.3893...

it spiked right to it and turned... however even though i say all this - it is true that this system can backfire on us and we should not put 100% reliability on it... MM is key along with patience = discipline... \

any system alone will not save you... you gotta match yourself with it... All I can say is using this system has made me more confident in keeping my trades open until it hits TP..

I use other methods to plan certain trades... i look at the bigger picture to determine the trade but tend to use small stops... in case you are wondering... I am looking for a EURUSD move to sub 1.32 before we break 1.41

as always - it can go either way.... goodluck
  • #1,625
  • Mar 10, 2014 3:27pm Mar 10, 2014 3:27pm
Hi everyone,

I discovered this thread one week ago and i'm fascinated by what it means in terms of what is driving Nature ?

To be short, i have a question concerning the template T5_103 F, Bobi wrote : 'If price can not complete it journey and can break its opposite breakout level , then we can say trend is changed and will complete the opposite direction (90% of the times will move to 100% level of opposite phase)'

What did he mean by 'can break its opposite breakout level'. What are those levels exactly in this situation ?

TIA and thank you Bobi
  • #1,626
  • Edited 10:45pm Mar 10, 2014 10:17pm | Edited 10:45pm
Quoting Symphoenix
Hi everyone, I discovered this thread one week ago and i'm fascinated by what it means in terms of what is driving Nature ? To be short, i have a question concerning the template T5_103 F, Bobi wrote : 'If price can not complete it journey and can break its opposite breakout level , then we can say trend is changed and will complete the opposite direction (90% of the times will move to 100% level of opposite phase)' What did he mean by 'can break its opposite breakout level'. What are those levels exactly in this situation ? TIA and thank you Bobi...
If price travels from %23.6 upper phase into lower phase and breaks %61.8 target is %61.8- 47 pips but if price can not complete its journey and comes back to the upper phase and breaks %38.2 target is %38.2+47 pips
  • #1,627
  • Mar 10, 2014 11:10pm Mar 10, 2014 11:10pm
Quoting Evilmaster
{quote} Hi Hollow, Thanks for your reply. I understand all methods have a win/loss rate, as long as the winning one is more, it doesn't matter which method it is. I've uploaded my work of Support & Resistance from previous Top and Bottom, Volume Studies, a record of a few key events, Heikin Ashi for easy Elliott Waves counting, 2 Channels TL. Almost all of the key turning points coincides with T5_103F Fibs levels, I don't know why too, its interesting. Im not sure if its of help to any but I hope it can be used in together and it can help anyone...
Hi Evilmaster, I am new to this thread, Can you show me where to download the lastest Abonacci T5 template like your. Thank you
  • #1,628
  • Mar 11, 2014 3:42am Mar 11, 2014 3:42am
Quoting ngoanhoang3
{quote} Hi Evilmaster, I am new to this thread, Can you show me where to download the lastest Abonacci T5 template like your. Thank you
Hi,

Its in the first few pages of the thread ya. Rules are written there as well. I'm not using the templates here so your questions is better answered by others regarding the rules of entry etc.

Evilmaster
  • #1,629
  • Mar 11, 2014 5:16am Mar 11, 2014 5:16am
Quoting mehmed92
{quote} If price travels from %23.6 upper phase into lower phase and breaks %61.8 target is %61.8- 47 pips but if price can not complete its journey and comes back to the upper phase and breaks %38.2 target is %38.2+47 pips
Thank you for your fast answer.
So, still for T5_103F template, in the case price rises from 76,4% and break 38,2%+7pips but cannot complete its journey to +47 pips and break 61,8% on its return to the lower phase, target is 61,8% + 47 pips ? Is that right ? Or is 76.4% the level to break by the counter trend ?

TIA
  • #1,630
  • Mar 11, 2014 6:21am Mar 11, 2014 6:21am
Quoting Symphoenix
{quote} Thank you for your fast answer. So, still for T5_103F template, in the case price rises from 76,4% and break 38,2%+7pips but cannot complete its journey to +47 pips and break 61,8% on its return to the lower phase, target is 61,8% + 47 pips ? Is that right ? Or is 76.4% the level to break by the counter trend ? TIA
Hiya. It is the next opposing signal. So it would be 61.8% -7 pips. Unless there is another signal, I assume the my trade is still in play and the next TP to be hit.
  • #1,631
  • Mar 11, 2014 6:57am Mar 11, 2014 6:57am
Quoting hollowhead
{quote} Hiya. It is the next opposing signal. So it would be 61.8% -7 pips. Unless there is another signal, I assume the my trade is still in play and the next TP to be hit.
Thx hollowhead. You are right, it's 61.8% - 7 pips because of the bearishness of the counter trend.
Another question if it's all right for you : Bobi said that in the case of T5_103F, the countertrend (if it's this case scenario) will go to 100% of the opposite phase in 90% of the case. You confirm that ? Where does this idea of a target at + 47 pips come from ?

TIA
  • #1,632
  • Mar 11, 2014 8:43am Mar 11, 2014 8:43am
Quoting Symphoenix
{quote} Thx hollowhead. You are right, it's 61.8% - 7 pips because of the bearishness of the counter trend. Another question if it's all right for you : Bobi said that in the case of T5_103F, the countertrend (if it's this case scenario) will go to 100% of the opposite phase in 90% of the case. You confirm that ? Where does this idea of a target at + 47 pips come from ? TIA
No problem. I think you may be over thinking it. Bobi's post is a little confusing and I remember what he meant by it. I take a simple approach. If I have a long signal I take it. If it doesn't reach target and drops so far I to give a short signal, I take it. Each signal is triggered 7 pips above/below the 38.2%/61.8% level and target is 40 pips.

I'm not at my computer at the moment so can't post a chart to help, but will try later.
  • #1,633
  • Mar 11, 2014 5:01pm Mar 11, 2014 5:01pm
as a matter of interest..using 220 range I traded this down off the 23.6 point.. for 10.... looking to short again.. also notice 12.5 works on this range..my first trade using it..
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  • #1,634
  • Mar 11, 2014 5:10pm Mar 11, 2014 5:10pm
picture day gold
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  • #1,635
  • Mar 12, 2014 2:52am Mar 12, 2014 2:52am
AUD price rests at level 76.4, the latest upward swing. We'll see if he has the strength to finish completing Phase (100%) of the movement and thus close our position, or otherwise makes a pull-back.
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  • #1,636
  • Mar 12, 2014 4:26am Mar 12, 2014 4:26am
finally achieved the desired objective.
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  • #1,637
  • Mar 12, 2014 5:47am Mar 12, 2014 5:47am
gbp-usd
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  • #1,638
  • Mar 12, 2014 5:52am Mar 12, 2014 5:52am
Quoting jmss59
gbp-usd {image}
input is activated
  • #1,639
  • Mar 12, 2014 7:24am Mar 12, 2014 7:24am
Quoting jmss59
{quote} input is activated
Jumped the stop, as I do not like the price is moving in this area since rebounded and now has done the same.
The next post in this pair will make with the position twice with 1 lot.
  • #1,640
  • Mar 12, 2014 12:59pm Mar 12, 2014 12:59pm
eur-usd
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