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Are support and resistance levels predetermined?

  • #1,901
  • Jul 17, 2014 7:09am Jul 17, 2014 7:09am
Quoting hollowhead
{quote} I'm still biased short to 1.3398.
template T5_103F is already ON = SELL GU 1.7097 TP 1.7057

what do u think ?
  • #1,902
  • Jul 17, 2014 7:17am Jul 17, 2014 7:17am
I can't see my charts today - but I know with GU I am short biased to at least 1.69 (no real abonacci rationale). With EU, I am short to 1.3398. I am planning to trade the bull trend resuming about that area...
  • #1,903
  • Jul 18, 2014 10:04am Jul 18, 2014 10:04am
Quoting na_r2000
{quote} template T5_103F is already ON = SELL GU 1.7097 TP 1.7057 what do u think ?
HIT TP
  • #1,904
  • Jul 18, 2014 10:22am Jul 18, 2014 10:22am
t
Quoting hollowhead
I can't see my charts today - but I know with GU I am short biased to at least 1.69 (no real abonacci rationale). With EU, I am short to 1.3398. I am planning to trade the bull trend resuming about that area...


Watch eu may keep going 1.3180.. That's where my target i.. Possibly more
  • #1,905
  • Jul 18, 2014 3:18pm Jul 18, 2014 3:18pm
Quoting jaylovin
t{quote} Watch eu may keep going 1.3180.. That's where my target i.. Possibly more
Hey Jay - how's it going?

I should have been more clear. I will have a fairly tight stop there. To me it is a major level if it goes much further (60 pips) than that then I think you're right, it could well go much further down. I can't see it going lower than 1.3162 (that's a T4Y_1130 trigger level which would target 1.2906. I'm bearing in mind Bobi's previous ascertion that EU would reach 1.4455 sometime this year. Having said that, we all know anything can happen anytime...

Trade safe

Steve
  • #1,906
  • Jul 18, 2014 8:38pm Jul 18, 2014 8:38pm
Quoting hollowhead
{quote} Hey Jay - how's it going? I should have been more clear. I will have a fairly tight stop there. To me it is a major level if it goes much further (60 pips) than that then I think you're right, it could well go much further down. I can't see it going lower than 1.3162 (that's a T4Y_1130 trigger level which would target 1.2906. I'm bearing in mind Bobi's previous ascertion that EU would reach 1.4455 sometime this year. Having said that, we all know anything can happen anytime... Trade safe Steve
Hi Steve... all good here though i am starting to miss family back home.. I have not been trading due to lack of time... but i am also changing my way by trading much much less but a larger position - my mindset has been sane of late because of it...

atm i don't know if we see 1.4455.. as accurate as i say Bobi has been - his timing hasn't been perfect but i have never seen anyone master timing in the markets...

for now 1.3180 or more seems logical... but i also said that at 1.39 though i didn't trade it. I believe we will most likely see 1.50 before we see 1.20... my target upside is 1.55xx so from sub 1.32 i will look to only long unless the story changes

i have been wrong many times.. how are you?
  • #1,907
  • Edited 2:41pm Jul 22, 2014 2:36pm | Edited 2:41pm
Quoting jaylovin
{quote} Hi Steve... all good here though i am starting to miss family back home.. I have not been trading due to lack of time... but i am also changing my way by trading much much less but a larger position - my mindset has been sane of late because of it... atm i don't know if we see 1.4455.. as accurate as i say Bobi has been - his timing hasn't been perfect but i have never seen anyone master timing in the markets... for now 1.3180 or more seems logical... but i also said that at 1.39 though i didn't trade it. I believe we will most likely see...
Hi Jay - doing well thanks - the day job is getting in the way, but needs must and all that.

I should have been more clear - my entry will have a tight stop. You're are absolutley right, if it goes much below 1.3398 I can see it continuing for a while, but I'm going to take a calculated risk on it turning around the BRN - but like you I've been wrong many times.
  • #1,908
  • Jul 22, 2014 2:40pm Jul 22, 2014 2:40pm
We're getting to interesting territory on EU. I entered two short on the in late Jan early Feb here (can't remember the exact signal - a 680 and 103 I think. I have hedged them up to the top of the hill closed out, and have traded them back down again. It will be immensley satisfying to close them out on the TP at around 1.34 7 months later!!
  • #1,909
  • Jul 23, 2014 8:02am Jul 23, 2014 8:02am
The more is time dimension the more determined are support and resistance levels, because we are approaching to the highest standoff of buyers and sellers (on the assumption of their limited number). Hence, the less is timeframe the less is the chance that it will snap into action.
  • #1,910
  • Jul 25, 2014 12:20pm Jul 25, 2014 12:20pm
AEBAB - (Bobi) I need a little help here. Which target should I consider the most accurate? For example the 680 template shows a potential target of 1.3398 on the Eur/Usd while the 1130 template shows a much different potential target (one which I cannot even figure out) and yet the 103 template shows even a different potential than either of the others. A little more discussion would be really helpful. We are appreciative of the information we have and can make profit with it but not knowing more limits the potential.
Steve - If you know for sure the answer please let me know.
Thanks
  • #1,911
  • Jul 25, 2014 12:55pm Jul 25, 2014 12:55pm
Quoting tomthepoppop
AEBAB - (Bobi) I need a little help here. Which target should I consider the most accurate? For example the 680 template shows a potential target of 1.3398 on the Eur/Usd while the 1130 template shows a much different potential target (one which I cannot even figure out) and yet the 103 template shows even a different potential than either of the others. A little more discussion would be really helpful. We are appreciative of the information we have and can make profit with it but not knowing more limits the potential. Steve - If you know for sure...
Hey Tom

One of the problems is we only have a few of bobi's templates, so there could be big gaps in our analysis (as I think I have demonstrated several times!! )

I'll try and do an analysis of the pairs over the weekend. But, the way I see it, there can be two opposing wide targets in play at the same time. One way to look at it would be to go to something like a weekly or monthly chart and see whether those targets are actually the wide side of a bigger timeframe range, wedge, flag etc. In trading both targets, we could simply be trading the extremes of a range. I've not checked that that is the case, but I'll try and see over the weekend.

I have both trades/targets open on EU. As you know I have hedgded a lot with Abonocci. I took the original short trades in the new year with the 1.3998 target. I hedged up and closed out my final buys at about 1.392. And have held and added to the original shorts down - not closing them but letting the positions build. My game plan is to close out all shorts at about 1.4010 and enter a heavy long with a tight SL for a potential move back to the uptrend. If it does bounce and goes past 1.3531, then that will signal and T4F (220) and I'll add becuase we will have a trand change.

But I am equally aware it could go much lower...

That's just my initial thoughts - all run a few more scenarios over the W/E and see if there are other possabilities.

Best to you and have a good weekend

Steve
  • #1,912
  • Jul 28, 2014 2:02pm Jul 28, 2014 2:02pm
Quoting hollowhead
{quote} Hey Tom One of the problems is we only have a few of bobi's templates, so there could be big gaps in our analysis (as I think I have demonstrated several times!! ) I'll try and do an analysis of the pairs over the weekend. But, the way I see it, there can be two opposing wide targets in play at the same time. One way to look at it would be to go to something like a weekly or monthly chart and see whether those targets are actually the wide side of a bigger timeframe range, wedge, flag etc. In trading both targets, we could simply be...
Steve - You are the only reason this thread has continued - I do wish that Bobi had not deserted us and I hope AEBAB returns (soon)
Look - I don't use the 1130 template much because I cannot figure out exactly what the rules are. Will you look at it and see if you can make some sense.
According to AEBAB it is one of the most accurate templates. Thanks Steve.
  • #1,913
  • Jul 29, 2014 6:58am Jul 29, 2014 6:58am
Quoting tomthepoppop
{quote} Steve - You are the only reason this thread has continued - I do wish that Bobi had not deserted us and I hope AEBAB returns (soon) Look - I don't use the 1130 template much because I cannot figure out exactly what the rules are. Will you look at it and see if you can make some sense. According to AEBAB it is one of the most accurate templates. Thanks Steve.
Hi Tom - my understanding of T4Y_1130 is as follows. There are three potential trades.

Long (reverse all for short)
We enter when price comes from 76.4% into phase above and breaks 23.6% by 42 pips - TP = 300 pips (50% level).
If price continues past 50% by 59 pips enter long again - TP 161 pips
If price pulls back to the 23.6% and the turns long again and breaks the 38.2% by 21 pips, then we enter long again TP 50% level

Check GU
12 Feb - broke 23.6% (Enter 1)
17 Feb - reached 50% (or near enough) (TP1)
19 Mar - pullback to 23.6% resumed long
8 Apr - passed 38.6% (Enter 2)
17 Apr - reached 50% again (TP2)
30 Apr - Broke 50% by 59pips (Enter 3)
19 Jun - TP 3.

Hope that helps Tom - as I say that's how I understand it...



Steve
  • #1,914
  • Jul 29, 2014 8:25am Jul 29, 2014 8:25am
Quoting hollowhead
{quote} Hi Tom - my understanding of T4Y_1130 is as follows. There are three potential trades. Long (reverse all for short) We enter when price comes from 76.4% into phase above and breaks 23.6% by 42 pips - TP = 300 pips (50% level). If price continues past 50% by 59 pips enter long again - TP 161 pips If price pulls back to the 23.6% and the turns long again and breaks the 38.2% by 21 pips, then we enter long again TP 50% level Check GU 12 Feb - broke 23.6% (Enter 1) 17 Feb - reached 50% (or near enough) (TP1) 19 Mar - pullback to 23.6% resumed...
Wow thanks Steve - I must have had some senior moments not being able to comprehend what Bobi was saying in the rules. Now I got it and will trade it like the Wizard of NC that I am. Ha Ha
  • #1,915
  • Jul 29, 2014 2:49pm Jul 29, 2014 2:49pm
Quoting tomthepoppop
{quote} Wow thanks Steve - I must have had some senior moments not being able to comprehend what Bobi was saying in the rules. Now I got it and will trade it like the Wizard of NC that I am. Ha Ha
- it took me a while to work it out - and in case your wondering, I didn't trade all those signals - I had my head so stuck in the short signals that hadn't played out that I completely missed them!! Just goes to show how dangerous (or limiting a bias can be).
  • #1,916
  • Jul 29, 2014 2:51pm Jul 29, 2014 2:51pm
So here is some analysis of how I see things at the moment - I am sure I will have missed things, it's been a while since I went through all the templates.

Attached Image (click to enlarge)
Click to Enlarge Name: EU analysis 290714.jpg Size: 287 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GU analysis 290714.jpg Size: 139 KB
  • #1,917
  • Jul 29, 2014 3:02pm Jul 29, 2014 3:02pm
I've closed out all my EU trades on one account (this is a demo I am using for the Demolympics competition - the TE is in my profile if your interested). Basically taking every trade I get around to spotting.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-290714.png Size: 32 KB
  • #1,918
  • Jul 30, 2014 3:00am Jul 30, 2014 3:00am
Quoting na_r2000
{quote} hi hollow, check EU on T4Y_680 Template , We can say 76.4% is broken when price is traveling from 0%+59 of upper phase and falls 14 pips below 76.4% level of current phase. price already hit 76,4% level means there is sell target EU TP = 1.33980 please correct me if i am wrong

HIT TP
  • #1,919
  • Jul 30, 2014 6:48am Jul 30, 2014 6:48am
Quoting na_r2000
{quote} HIT TP
Good One na_r2000 - Me too
  • #1,920
  • Jul 30, 2014 8:41am Jul 30, 2014 8:41am
Just found this thread on FF and it seems very logical, will go through the posts and will come with some questions if arise in my mind, I hope all contributors will clear the concepts.
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