Are support and resistance levels predetermined? | Page 88 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,741
  • Mar 24, 2014 2:49pm Mar 24, 2014 2:49pm
Quoting shon9178
hi guys, has GU hit bottom for a reversal?
I'm not sure how you expect anyone to know that.

According to T4F template - if price rises to above 1.6567 - then it should reach 1.66751 - but it could also drop 300 pips before doing getting there.
  • #1,742
  • Mar 24, 2014 3:16pm Mar 24, 2014 3:16pm
Quoting hollowhead
{quote} I'm not sure how you expect anyone to know that. According to T4F template - if price rises to above 1.6567 - then it should reach 1.66751 - but it could also drop 300 pips before doing getting there.
sorry for the vague broad question.
was just wondering whether the charts were showing signs of a reversal.
I'm still juggling understanding the indicators
  • #1,743
  • Mar 24, 2014 3:17pm Mar 24, 2014 3:17pm
Quoting shon9178
hi guys, has GU hit bottom for a reversal?
Difficult to achieve. After reaching 261.8 fibo level of impulsive wave down and from there to bounce right up to the level of a new wave 38.2 gray. We are now waiting to enter short break expect that the price level 261.8. And if you decide to raise the price level must reach 50 or 61.8 of the gray wave, yet would still be the dominant downtrend.
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  • #1,744
  • Mar 24, 2014 3:34pm Mar 24, 2014 3:34pm
Quoting shon9178
{quote} sorry for the vague broad question. was just wondering whether the charts were showing signs of a reversal. I'm still juggling understanding the indicators
No problem - the way I see it is we have a short target of 1.6188. And we also have a long target of 1.6868 - that's a 680 pip gap. Which way will it go first? I don't know - but it will go one way or another. We got very close to the top target - but not close enough for me to consider it to have been met.

Outside of abonacci, I think GU is due a hefty pullback before another big push - but then again the markets make no sense and when I think something is due or should happen, it ususally does the opposite. All I can do is trade the signals I see and control my money. The market will take care of everything else. Even with such a solid system as this, we only see a little bit of what's going on and can only trade what we see - and I think anyone here (other than Bobi) making big judgement calls is giving a 50/50 shout at best. Just my opinion....
  • #1,745
  • Mar 25, 2014 7:32am Mar 25, 2014 7:32am
EU. Open sell
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  • #1,746
  • Mar 25, 2014 11:18am Mar 25, 2014 11:18am
EU. Finally the price has reached the expected level
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  • #1,747
  • Mar 25, 2014 11:18am Mar 25, 2014 11:18am
Eu T5_103 short TP Hit
  • #1,748
  • Mar 25, 2014 12:11pm Mar 25, 2014 12:11pm
AU. Bull activated
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  • #1,749
  • Mar 25, 2014 12:45pm Mar 25, 2014 12:45pm
AU T4F TP Hit
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  • #1,750
  • Mar 25, 2014 5:08pm Mar 25, 2014 5:08pm
Interesting strategy here. I noticed you guys have put stops in for levels. This seems simple enough, but I feel like I'm missing something on entries and exits.
  • #1,751
  • Mar 26, 2014 1:59am Mar 26, 2014 1:59am
Quoting iwavetrade
Interesting strategy here. I noticed you guys have put stops in for levels. This seems simple enough, but I feel like I'm missing something on entries and exits.
Hi

I'm not sure I understand what you mean. All entries and (most) exits are as per the rules for each template.
  • #1,752
  • Mar 26, 2014 3:19am Mar 26, 2014 3:19am
AU. Finally the price has reached the expected level
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  • #1,753
  • Mar 26, 2014 10:43am Mar 26, 2014 10:43am
On bull the GU pair. Difficult to purchase Zone match the 61.8 fibo and the downtrend line. But I will have confidence and I'll give it a try.
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  • #1,754
  • Mar 26, 2014 10:47am Mar 26, 2014 10:47am
Quoting jmss59
On bull the GU pair. Difficult to purchase Zone match the 61.8 fibo and the downtrend line. But I will have confidence and I'll give it a try. {image}
I think it's also a dubious long T4F signal. Price only just broke below the 61.8% level and has broken 10 pips above the 100% by a whisker - can't post charts at the moment I'm afraid. Wouldn't criticise anyone for not taking it - but I'm having a go and we'll see what happens....
  • #1,755
  • Mar 26, 2014 10:56am Mar 26, 2014 10:56am
The most logical move should be this, but we'll wait.
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  • #1,756
  • Mar 26, 2014 11:00am Mar 26, 2014 11:00am
Quoting jmss59
The most logical move should be this, but we'll wait. {image}
I agree, but the markets rarely seem to be logical... trade what you see etc...
  • #1,757
  • Mar 26, 2014 11:38am Mar 26, 2014 11:38am
Quoting hollowhead
{quote} I think it's also a dubious long T4F signal. Price only just broke below the 61.8% level and has broken 10 pips above the 100% by a whisker - can't post charts at the moment I'm afraid. Wouldn't criticise anyone for not taking it - but I'm having a go and we'll see what happens....
price has not broken %61.8=1.6473
  • #1,758
  • Mar 26, 2014 11:43am Mar 26, 2014 11:43am
Quoting mehmed92
{quote} price has not broken %61.8=1.6473
Hmmm - my broker shows it went to 1.64648 - we'll see what happens
  • #1,759
  • Edited 12:10pm Mar 26, 2014 11:46am | Edited 12:10pm
Quoting hollowhead
{quote} Hmmm - my broker shows it went to 1.64648 - we'll see what happens
But It is not 10 pips
  • #1,760
  • Mar 26, 2014 11:56am Mar 26, 2014 11:56am
Gu bull t103?
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