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Draw line with predetermined pip distance from the origin line 5 replies

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Possible Support and Resistance Levels 1 reply

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Are support and resistance levels predetermined?

  • #2,101
  • Quote
  • Nov 14, 2014 12:11am Nov 14, 2014 12:11am
Hi friends, template T4Y_680 GBP/USD is already ON = SELL GBP/USD 1.5673 TP 1.5508
Hi friends, template T4Y_1130 GBP/USD is already ON = SELL GBP/USD 1.5638 TP 1.5477
Did you see how exactly euro touched the support level in T-1030 template? Now I expect Bobi's goal.
Hi friends, template T5_103F EU is already ON = SELL EU 1.2465 TP 1.2425
  • #2,105
  • Quote
  • Nov 19, 2014 11:40am Nov 19, 2014 11:40am
Quoting na_r2000
Hi friends, template T5_103F EU is already ON = SELL EU 1.2465 TP 1.2425
wow the signal is fail
Quoting na_r2000
{quote} wow the signal is fail
It depends what you mean by fail. Bobi does say that with alot of the templates if price goes the other way, the target is still valid. Remember there is no time recommendation and Bobi never suggested a SL or where to consider the trade fail - he left that to us to work out!!

But it does happen that trades can go along way the other way - especially on the templates ending in 'F'.

I've expereinced some 680/1130 templates go so far the other way that price completed a target on the opposite direction before coming back.

Just keep you MM in check - you're doing great.
I don't quite know but there's a math to generate support and resistance. Otherwise I could just check it on web like Dailyfx or bloomberg for technical analysis on support and resistance.
Anyone Here Who Can Tell Me About USDCHF Future Trend
Hi,

Anyone still trade with abonacci here? I do
Still waitin' for GU to go waaay down [according to bobi's rules], and recent waitin for AU to go south.
May the odds be ever in your favor
Quoting HanHanid
Hi, Anyone still trade with abonacci here? I do Still waitin' for GU to go waaay down [according to bobi's rules], and recent waitin for AU to go south.
ABSOLUTELY - we are just quiet waiting for our signals and then our TP.
WOW E/U 1130 TEMPLATE HIT TP!!!
Quoting tomthepoppop
{quote}ABSOLUTELY - we are just quiet waiting for our signals and then our TP. WOW E/U 1130 TEMPLATE HIT TP!!!

Wow, You ride the EU while going down ? Good for U, I'm still waitin GU and just finished with AU 680 template
May the odds be ever in your favor
Well I am through trading for the year and thanks to this thread and the Abonacci indicator it has been a good year.
NOW will sit back and wait on the baselines for 2015. Thanks in advance AEBAB.
  • #2,113
  • Quote
  • Dec 26, 2014 11:03pm Dec 26, 2014 11:03pm
Quoting tomthepoppop
Well I am through trading for the year and thanks to this thread and the Abonacci indicator it has been a good year. NOW will sit back and wait on the baselines for 2015. Thanks in advance AEBAB.

same here. will be on vacation till next year. Thanks a lot Aebab
May the odds be ever in your favor
Quoting hollowhead
{quote} Sorry trader 2745, missed your earlier post (although I have to say sarcasm is not going to motivate many poeple to help). One of the reasons folk may not have been quick to help is that everything is laid out in the thread. The pdf only covers each templates rules, but wider discussion was had a ot more when Bobi opened the thread. As with all threads there is alot of discussion early on which tends to cover 95% of situations and scenarios, and the rest is then generally trade calls and pointless arguing (although there has been none of...
well finally i finished reading it all over and over, so i understand what you mean now, so far understood. I guess i am going to join the club and hope we get the baselines for 2015.
Quoting trader2745
{quote} well finally i finished reading it all over and over, so i understand what you mean now, so far understood. I guess i am going to join the club and hope we get the baselines for 2015.
Excellent - here's hoping Bobi provides some New Year basline gifts. Good luck.
i have not looked at it on the other shorter templates but its interesting how the TREND LINE (red line) of the abonacci acts alike a support and resistant level?
Attached Image (click to enlarge)
Click to Enlarge Name: abonacci T5_965.png Size: 50 KB
and check out this extending the from 2013 template of abonacci T5_965, it supports it perfectly, i will do some testing on smaller templates and check the results.
Attached Image (click to enlarge)
Click to Enlarge Name: abnc 2.png Size: 68 KB
Quoting trader2745
and check out this extending the from 2013 template of abonacci T5_965, it supports it perfectly, i will do some testing on smaller templates and check the results. {image}
as a matter of interest.. i find 565 works quite well too..just my opnion of crs
To answer the question of the O.P. what people consider support and resistance prices are predetermined, but they are determined daily by something called PIVOT points. Many people pick certain numbers and say that is the support of xyz currency, but dont notice how close those same levels are to the daily pivots.
Have a look at EU today. 1.2172 and 1.21225 are the respective pivots which are higher and lower then the current price (1.2155) Now should EU drop today and make a charge upward, notice how it is a daily pivot which it touches and bounces clean off of on the lower tf chart.
Quoting danc
{quote} as a matter of interest.. i find 565 works quite well too..just my opnion of crs
what do you mean by 565?
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