Are support and resistance levels predetermined? | Page 94 | Forex Factory

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Are support and resistance levels predetermined?

  • #1,861
  • May 27, 2014 1:36pm May 27, 2014 1:36pm
Quoting hollowhead
{quote} - more importantly (well for me anyway) when price breaks 1.6767, we will have a T4F and price will TP at 1.66089.
hi hollow,

please check , i dont see the signal of T4F (1.6767) .. pls explain . thx
  • #1,862
  • May 27, 2014 1:52pm May 27, 2014 1:52pm
Quoting na_r2000
{quote} hi hollow, please check , i dont see the signal of T4F (1.6767) .. pls explain . thx
Price comes from the 76.4%, rises into the phase above and crosses the 23.6% - if it fails to reach the upper 76.4% and drops back below the 100% by 10 pips, then it will continue dropping to the lower 23.6%

On the right of the chart you will see what I expect it to do if price keeps dropping 10 pips lower than the 100%.

On the left you can see a T4F trade I took - this was a long one, so everything is in reverse.

Hope it helps

Steve

Attached Image (click to enlarge)
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  • #1,863
  • May 27, 2014 2:12pm May 27, 2014 2:12pm
Quoting hollowhead
{quote} Price comes from the 76.4%, rises into the phase above and crosses the 23.6% - if it fails to reach the upper 76.4% and drops back below the 100% by 10 pips, then it will continue dropping to the lower 23.6% On the right of the chart you will see what I expect it to do if price keeps dropping 10 pips lower than the 100%. On the left you can see a T4F trade I took - this was a long one, so everything is in reverse. Hope it helps Steve {image}
even if the price is dropping 10 pips lower than the 100%, the price need to fall below 61,8% first to confirm a SELL ( SELL STOP 1.6683 ) .
Please correct me if i am wrong .


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.
  • #1,864
  • May 27, 2014 2:19pm May 27, 2014 2:19pm
Quoting na_r2000
{quote} even if the price is dropping 10 pips lower than the 100%, the price need to fall below 61,8% first to confirm a SELL ( SELL STOP 1.6683 ) . Please correct me if i am wrong . 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.
Got my 23 and 38 mixed up - but the setup still stands, price crossed the 38, failed to hit the 76, if it drops 10 pips below the 100, it will continue down the 23.
  • #1,865
  • May 27, 2014 9:58pm May 27, 2014 9:58pm
Hi Hollowhead,
Could you please let me know the baseline for year of each template of pairs: GBP/USD; EUR/USD; NZD/USD; AUD/USD; USD/JPY; EUR/JPY; GBP/JPY; GBP/NZD; GBP/AUD and GOLD?
Thank a lot
  • #1,866
  • May 28, 2014 12:42am May 28, 2014 12:42am
Quoting chrjtm
Hi Hollowhead, Could you please let me know the baseline for year of each template of pairs: GBP/USD; EUR/USD; NZD/USD; AUD/USD; USD/JPY; EUR/JPY; GBP/JPY; GBP/NZD; GBP/AUD and GOLD? Thank a lot
We only have baselines for 3 pairs this year.

EU is here - http://www.forexfactory.com/showthre...63#post7183663
GU is here - http://www.forexfactory.com/showthre...75#post7183675
AU is here - http://www.forexfactory.com/showthre...27#post7196027

Steve
  • #1,867
  • May 28, 2014 2:12am May 28, 2014 2:12am
GU T4F Sell triggered - TP 1.66089
  • #1,868
  • May 28, 2014 2:20am May 28, 2014 2:20am
Quoting hollowhead
GU T4F Sell triggered - TP 1.66089
keep the good job hollow
  • #1,869
  • May 28, 2014 7:17am May 28, 2014 7:17am
this is quite similar to Left Brain Traiding by Lewis Evans, he talk about Absolute Fibonacci Framework, and the baseline is fixed, for instance EURUSD baseline is 1.2000. Is this inspired in that system?
  • #1,870
  • May 30, 2014 3:27am May 30, 2014 3:27am
Quoting hollowhead
GU T4F Sell triggered - TP 1.66089
Hi Hollowhead,
Should i put my sl for this short? Thanks a lot
  • #1,871
  • May 30, 2014 6:03am May 30, 2014 6:03am
Quoting fxjorr
this is quite similar to Left Brain Traiding by Lewis Evans, he talk about Absolute Fibonacci Framework, and the baseline is fixed, for instance EURUSD baseline is 1.2000. Is this inspired in that system?
Hi fxjorr

Sorry I missed your post before. I had not heard of Left Brain Trading, but having had a quick look it does appear to be very similar and could well be the basis from which Bobi developed the Abonacci templates and rules. Of course, Bobi's use is in applying the previous years PA to establish a baseline for the current year, and having a variety of 'frameworks' (templates) each with specific rules or behaviours.

Thanks for pointing it out.

Steve
  • #1,872
  • May 31, 2014 12:11am May 31, 2014 12:11am
Quoting hollowhead
{quote} Hi fxjorr Sorry I missed your post before. I had not heard of Left Brain Trading, but having had a quick look it does appear to be very similar and could well be the basis from which Bobi developed the Abonacci templates and rules. Of course, Bobi's use is in applying the previous years PA to establish a baseline for the current year, and having a variety of 'frameworks' (templates) each with specific rules or behaviours. Thanks for pointing it out. Steve
HA HA haaa Nothing NEW. Thought so with his claims of proprietary and he invented and and and ... Bobi is a WANKER.

Got his idea from somebody else and don`t want to give that guy credit.

I bet Bobi is one of this guy`s students. ABONACCI WANKER

If Bobi is not the Guy from LEFTBRAIN TRADING then BOBI IS A ABSOLUTE FAKE.
  • #1,873
  • May 31, 2014 7:20am May 31, 2014 7:20am
Quoting banco
{quote} ha ha haaa nothing new. Thought so with his claims of proprietary and he invented and and and ... Bobi is a wanker. Got his idea from somebody else and don`t want to give that guy credit. I bet bobi is one of this guy`s students. Abonacci wanker if bobi is not the guy from leftbrain trading then bobi is a absolute fake.
ok smaart guy - then get off his tread and stay off.
  • #1,874
  • May 31, 2014 2:12pm May 31, 2014 2:12pm
Quoting banco
{quote} HA HA haaa Nothing NEW. Thought so with his claims of proprietary and he invented and and and ... Bobi is a WANKER. Got his idea from somebody else and don`t want to give that guy credit. I bet Bobi is one of this guy`s students. ABONACCI WANKER If Bobi is not the Guy from LEFTBRAIN TRADING then BOBI IS A ABSOLUTE FAKE.
So, because Bobi's system is based on something else, that makes him a fake and a w****r? Really? Grow up!! We're you so naive to think it wasn't based on someone else's previous findings? Most of us with a modicom of world/life experience and maturity know that there is nothing new under the sun. Everything is a development of something else - that's how things work. Do you think there is any system here that isn't building on something someone else has done before?

In the end does it make any difference to how effective it is? Does it reduce the value of the trades made? Has anyone lost any money because Bobi may have developed and improved someone elses work? FYI Bobi said that his formula for setting baselines is proprietary. Nothing else. You show me where he has stolen that or copied it from somewhere else and you may have a point - but you can't. You make your first post on the thread slinging profanity and accusation like a teenager whose been dumped, when you've invested nothing into it, contributed sweet FA, and clearly have some sort of chip on your shoulder.

You clearly haven't read Left Brain Trading - otherwise you would realise that while the basic premise may be the same, there is clearly a depth of understanding that Bobi has that goes waaayy beyond it.

So thanks for making your 19th post on FF such a valuable and mature contribution.
  • #1,875
  • May 31, 2014 4:27pm May 31, 2014 4:27pm
Quoting banco
{quote} HA HA haaa Nothing NEW. Thought so with his claims of proprietary and he invented and and and ... Bobi is a WANKER. Got his idea from somebody else and don`t want to give that guy credit. I bet Bobi is one of this guy`s students. ABONACCI WANKER If Bobi is not the Guy from LEFTBRAIN TRADING then BOBI IS A ABSOLUTE FAKE.

banco!! or WanKo!!! - BObi is genuine, the real deal and Yes i have heard of leftbrain trading.......both bobi and leftbrain trading are completely opposite side of the world and they both are the real deal. you know the funny side to this, lefttrain trading has heard of BOBI abonacci and he has respect for him. how i know this, myself and other respectable FX traders had a conference via SKYPE about 1 year and half ago with LEFTBRAIN TRADING. the point i'm making is, SIMILAR or NOT who gives a sh*t. Matey, knowledge is POWER so do not bite the hand that feeds you!!!!!. so as our good friend hollowhead said thank you for making such "valuable and mature contribution".

peace.
  • #1,876
  • Jun 1, 2014 3:23am Jun 1, 2014 3:23am
Quoting hollowhead
{quote} So, because Bobi's system is based on something else, that makes him a fake and a w****r? Really? Grow up!! We're you so naive to think it wasn't based on someone else's previous findings? Most of us with a modicom of world/life experience and maturity know that there is nothing new under the sun. Everything is a development of something else - that's how things work. Do you think there is any system here that isn't building on something someone else has done before? In the end does it make any difference to how effective it is? Does it...
WELL SAID....almost allways the critics NEVER offer any thing constructive just poor the BUCKET on..
  • #1,877
  • Jun 3, 2014 1:38am Jun 3, 2014 1:38am
whats the baseline for this month.
Anyone knows the baseline for JUNE on EURUSD and GOLD?

Good Luck all
  • #1,878
  • Jun 5, 2014 11:52am Jun 5, 2014 11:52am
I am using the gold to the baseline 1247.85 , this is the one I use now but may vary .

I changed the template now use the 780 and I've also changed the operational , I enter level 76.4 for sales target level 23.6 minus the spread, stop loss level 23.6 , the next phase , plus the spread.

I use to buy the 23.6 level , with 76.4 target level , more spread. stop loss level 76.4 , the next phase , less spread.

If an operation goes wrong , doubled the position in the next operation , so until the operation reaches the desired goal.

For other pairs and operational risk is the same .

The results so far are very good, in three months I have earned a profit of 30% of an account of 25,000 euros.

Right now I'm in demo, to detect the periods in which the market are more lateral and operational failure and much more risk is assumed. So far I have detected two periods: Easter and the week in which news of possible changes of interest occur .
I will continue to demo the rest of the year to detect more lateral periods , and also have some results for a reasonable analysis time .
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  • #1,879
  • Jun 12, 2014 2:32am Jun 12, 2014 2:32am
Quoting hollowhead
GU T4F Sell triggered - TP 1.66089
hollow, do you think we still on GU T4F Sell triggered - TP 1.66089 ?

because the price already bounce back and break up 1.6777 (level 100%)

little bit confuse ...
  • #1,880
  • Jun 12, 2014 3:12am Jun 12, 2014 3:12am
Quoting na_r2000
{quote} hollow, do you think we still on GU T4F Sell triggered - TP 1.66089 ? because the price already bounce back and break up 1.6777 (level 100%) little bit confuse ...
Hi - I can't see my platform today, but as a rule of thumb for me, price will have to reach the 76.4 level as a minimum, and probably the 38 level in the next phase up to make me rethink.

Two other things to consider. There are much lower GU targets that have yet to be met. Also, EU is dropping, they are normally quite well correlated so I think at some point GU will drop, (hopefully hard and fast) and then resume the uptrend for both EU and GU.
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