Are support and resistance levels predetermined? | Page 92 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,821
  • Apr 27, 2014 3:03am Apr 27, 2014 3:03am
Weekly analysis below

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  • #1,822
  • Apr 27, 2014 10:52am Apr 27, 2014 10:52am
Quoting aebab
Dear traders As I promised , the software is finished and uploaded . Please download the attachment . Its easy to use . Just make back testing and let me know if any question . From last night I had been developing that so I did not sleep and even I did not go to office so I need some sleeping and I will be back at night . Best regards enjoy trading
Hi Guys,

I am using Windows 8 and can't run the AbonacciPivot application,
anyone know how to install it ?

Thanks
Attached File(s)
File Type: zip AbonacciPivot.zip   356 KB | 966 downloads
  • #1,823
  • Apr 30, 2014 6:18am Apr 30, 2014 6:18am
We're just a few pips away from the GU T4Y_680 TP. Not taking any more GU longs unless there is another longer term template signal. Which from my calculations is at 1.6927. There are still GU shorts to clear up, so am hoping for a pullback soon.
  • #1,824
  • Apr 30, 2014 8:23am Apr 30, 2014 8:23am
Quoting hollowhead
We're just a few pips away from the GU T4Y_680 TP. Not taking any more GU longs unless there is another longer term template signal. Which from my calculations is at 1.6927. There are still GU shorts to clear up, so am hoping for a pullback soon.
T4F(220) already hit buy GU 1.6871 TP 1.6945... so when it hit TP will continue with T4Y_680 buy stop 1.6927 TP 1.7047
  • #1,825
  • Apr 30, 2014 8:31am Apr 30, 2014 8:31am
Quoting na_r2000
{quote} T4F(220) already hit buy GU 1.6871 TP 1.6945... so when it hit TP will continue with T4Y_680 buy stop 1.6927 TP 1.7047
Hi na2_2000, there isn't a valid T4F trade - T4F is a reverse signal. A T4F trade is signalled when price crosses the 38 and then reverses 10 pips beyond the 100%. Then there is a trade in the opposite direction.

ie if GU price now drops below 1.6767, then there is a short trade on with a TP of 1.66089
  • #1,826
  • Apr 30, 2014 9:27am Apr 30, 2014 9:27am
Quoting hollowhead
{quote} Hi na2_2000, there isn't a valid T4F trade - T4F is a reverse signal. A T4F trade is signalled when price crosses the 38 and then reverses 10 pips beyond the 100%. Then there is a trade in the opposite direction. ie if GU price now drops below 1.6767, then there is a short trade on with a TP of 1.66089
hi hollowhead,

is boby who said that T4F is not valid trade? because i never heard that boby explain it like that.. please correct me if i am wrong.


Introduction of T4F template

This template can be used to know when the trend is going to change and where will be the target?
Its easy to understand and I have described in the pictures .
The length of the phase is 220 pips . Its derived from T4Y template. I love this template.
This time I have an example about GOLD. So when you want to set the Size in the setting of indicator, use 22000 to draw phases. (Its only for GOLD)

Rule: When price falls below 61.8% , or rises above 38.2% , it should continue to reach 23.6% or 76.4% respectively and to happen this scenario , it should not fall below 100% level. If happens , trend is changed and it will reach to opposite target.

to say it has failed to complete its journey , price should fall 10 units below 100% level.
  • #1,827
  • Apr 30, 2014 10:11am Apr 30, 2014 10:11am
Quoting na_r2000
{quote} hi hollowhead, is boby who said that T4F is not valid trade? because i never heard that boby explain it like that.. please correct me if i am wrong. Introduction of T4F template This template can be used to know when the trend is going to change and where will be the target? Its easy to understand and I have described in the pictures . The length of the phase is 220 pips . Its derived from T4Y template. I love this template. This time I have an example about GOLD. So when you want to set the Size in the setting of indicator, use...
I know - the way bobi describes it is a bit confusing and sounds like the first elements are the trade, but the bit I have bolded is the important bit and the actual T4F signal and trade. When I made a post similar to yours, bobi told me I had misunderstood and needed to go back and study the rules again.

Now, you can obviously trade both ways - but Abonacci is about absolutes - notice the first part bobi says price 'should reach xxx" but when he states that when the first part fails and price fallls 10 pips beyond 100% he says 'it WILL reach the opposite target'.

If you look at the charts in his post you should see it clearly.
  • #1,828
  • Apr 30, 2014 10:48am Apr 30, 2014 10:48am
Quoting hollowhead
{quote} I know - the way bobi describes it is a bit confusing and sounds like the first elements are the trade, but the bit I have bolded is the important bit and the actual T4F signal and trade. When I made a post similar to yours, bobi told me I had misunderstood and needed to go back and study the rules again. Now, you can obviously trade both ways - but Abonacci is about absolutes - notice the first part bobi says price 'should reach xxx" but when he states that when the first part fails and price fallls 10 pips beyond 100% he says 'it WILL...
ah i see .. thanks so much for sharing the explaination to us .. you're very kind
  • #1,829
  • Apr 30, 2014 10:55am Apr 30, 2014 10:55am
Quoting na_r2000
{quote} ah i see .. thanks so much for sharing the explaination to us .. you're very kind
No problem - trade well.

Steve
  • #1,830
  • May 2, 2014 5:54am May 2, 2014 5:54am
GU potential reversal area holding at the moment.

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  • #1,831
  • May 3, 2014 4:42am May 3, 2014 4:42am
Weekly analysis

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  • #1,832
  • May 6, 2014 1:11am May 6, 2014 1:11am
Quoting hollowhead
GU potential reversal area holding at the moment. {image} {image}
GU already break 1.6927 ... so bullish GU are heading to 1.7047 based on template T4Y_680
  • #1,833
  • May 6, 2014 1:19am May 6, 2014 1:19am
Quoting na_r2000
{quote} GU already break 1.6927 ... so bullish GU are heading to 1.7047 based on template T4Y_680
Agree - the window between 1.7047 and 1.7093 is really important - if it goes into 1.7100 it will then target 1.7500.
  • #1,834
  • May 6, 2014 5:23am May 6, 2014 5:23am
Quoting hollowhead
{quote} Agree - the window between 1.7047 and 1.7093 is really important - if it goes into 1.7100 it will then target 1.7500.
we forgot about template TY_1130 who said =

Break of 50% Level -------> Target 50%+220 , Break is 59 pips. Profit=161 pips.

so it should be GU buy stop 1.6886 TP = 1.7047
  • #1,835
  • May 6, 2014 5:30am May 6, 2014 5:30am
Quoting na_r2000
{quote} we forgot about template TY_1130 who said = Break of 50% Level -------> Target 50%+220 , Break is 59 pips. Profit=161 pips. so it should be GU buy stop 1.6886 TP = 1.7047
- that's why the window for reversal I specified is 1.7047-1.7093

1.7047 is very strong resistance - it is also a multi year high from 2009
  • #1,836
  • May 8, 2014 7:56am May 8, 2014 7:56am
Quoting hollowhead
{quote} - that's why the window for reversal I specified is 1.7047-1.7093 1.7047 is very strong resistance - it is also a multi year high from 2009
based T4F_220 EU already hit SELL STOP 1.3867 so now is heading to TP = 1.3792
  • #1,837
  • May 8, 2014 8:04am May 8, 2014 8:04am
Quoting na_r2000
{quote} based T4F_220 EU already hit SELL STOP 1.3867 so now is heading to TP = 1.3792
Hiya

Just a couple thoughts on that.

1. Price has not come from the upper 23% level, (1.40129) - so its not a valid trade I'm afraid.
2. Don't forget T4F is a reversal template

FWIW - I am waiting for 1.4079 to be met and then a drop - that could easily activate a T4F short.
  • #1,838
  • May 8, 2014 8:13am May 8, 2014 8:13am
Quoting hollowhead
{quote} Hiya Just a couple thoughts on that. 1. Price has not come from the upper 23% level, (1.40129) - so its not a valid trade I'm afraid. 2. Don't forget T4F is a reversal template FWIW - I am waiting for 1.4079 to be met and then a drop - that could easily activate a T4F short.
ah i see

thanks hollowhead for the correction
  • #1,839
  • May 8, 2014 8:14am May 8, 2014 8:14am
Quoting na_r2000
{quote} ah i see thanks hollowhead for the correction
No problem
  • #1,840
  • May 9, 2014 4:09am May 9, 2014 4:09am
Quoting hollowhead
{quote} No problem
based T5_1_103 GU already hit SELL STOP 1.6891 so now is heading to TP = 1.6851
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