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Determining Support & Resistance

  • #21
  • Nov 1, 2015 10:39pm Nov 1, 2015 10:39pm
Quoting dkrock
You could put both bbands on the same chart?
Hi what does it mean? Could you elaborate a little bit more.

Thank you
  • #22
  • Nov 1, 2015 10:39pm Nov 1, 2015 10:39pm
Quoting dkrock
{quote} Sorry, I was just looking for interesting things to read and offered some tips. This technique is not for me. Good Luck
You are most welcome :-)

Thank you :-)
  • #23
  • Nov 2, 2015 4:38am Nov 2, 2015 4:38am
SR Levels are very subjective.
I can not understand how you draw them via BB. Please explain further. Maybe show a H1 timeframe
Dont give up until the "GRAIL" has come
  • #24
  • Nov 2, 2015 5:11am Nov 2, 2015 5:11am
Hello Seremonia,

Really grateful for sharing the system, can you please detail further how you set your stop loss and profit levels and draw the support resistance levels on the bollinger bands.
  • #25
  • Nov 2, 2015 8:41am Nov 2, 2015 8:41am
Tried reading furhter, please let me know if the following is correct on 1hr, using bollinger bands inflexions from yesterday price to draw support and resistance?
Attached Image (click to enlarge)
Click to Enlarge Name: H1 GBPUSD.png Size: 18 KB
  • #26
  • Edited 8:55am Nov 2, 2015 8:44am | Edited 8:55am
Hi Recovery, Hi AlamHakim

Thank you :-)

Quoting Recovery
SR Levels are very subjective. I can not understand how you draw them via BB. Please explain further. Maybe show a H1 timeframe
Yes, you are correct, we can only go as closest as we can, and at least hopefully this BB could represent our confusion and reduce the level of subjectivity.

And, yes, perhaps this image below could be used as an example. This is EURUSD chart currently (today).

Quoting Alamhakim
Hello Seremonia, Really grateful for sharing the system, can you please detail further how you set your stop loss and profit levels and draw the support resistance levels on the bollinger bands.
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-11-02 21_39_02-EURUSD_ 1.10414 ▲+0.38% - TradingView.png Size: 144 KB
  • #27
  • Nov 2, 2015 8:51am Nov 2, 2015 8:51am
Quoting Alamhakim
Tried reading furhter, please let me know if the following is correct on 1hr, using bollinger bands inflexions from yesterday price to draw support and resistance? {image}
For GBPUSD currently (today) might be like this (less or more).

Thank you :-)
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-11-02 21_49_48-GBPUSD_ 1.54604 ▲+0.25% - TradingView.png Size: 113 KB
  • #28
  • Nov 2, 2015 4:09pm Nov 2, 2015 4:09pm
Today i took order on USDJPY just about now. And this is an example for today's chart USDJPY intraday analysis (November 3, 2015). It might be going down for today or perhaps tomorrow would be accomplished.
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-11-03 04_49_16-USDJPY_ 120.789 ▲+0.18% - QuantaDEV - TradingView.png Size: 132 KB
  • #29
  • Nov 2, 2015 4:21pm Nov 2, 2015 4:21pm
[/quote] So you take the BO of a BB squeeze and use last main swing H/L of BB for TP. .. Thankx
Learn THEN Unlearn
  • #30
  • Nov 2, 2015 4:24pm Nov 2, 2015 4:24pm
Hi HighFivve

Could you explain to me what BO means? Could you elaborate a little?

Thank you :-)
  • #31
  • Nov 2, 2015 4:24pm Nov 2, 2015 4:24pm
What stop loss did you set?
  • #32
  • Edited 4:37pm Nov 2, 2015 4:27pm | Edited 4:37pm
Quoting Alamhakim
What stop loss did you set?
According to the system, it's already mentioned on the picture above. But for me personally, at the end of today is my stop loss, including my take profit, but it could be changed dynamically depending on situation.

But if something happen unusual, then i will refer to the system to decide, for my manual TP or manual STOP LOSS or else would be attained properly.

Thank you :-)
  • #33
  • Edited 4:52pm Nov 2, 2015 4:33pm | Edited 4:52pm
BO = Breakout?

Breakout (in my opinion) it's a sudden movement, rapid movement. According to Physics it has Velocity (Distance/Time) bigger than mostly compared to a different time within bigger time frame.

So, breakout on 30 minutes timeframe would be spotted easily compared to another different time of 30 minutes within H1 - at least.

Less or more.

Thank you :-)
  • #34
  • Nov 3, 2015 2:05am Nov 3, 2015 2:05am
Quoting Seremonia
Today i took order on USDJPY just about now. And this is an example for today's chart USDJPY intraday analysis (November 3, 2015). It might be going down for today or perhaps tomorrow would be accomplished. {image}
Please explain the decision making process for going short? This is missing part of the puzzle..
  • #35
  • Nov 3, 2015 9:52am Nov 3, 2015 9:52am
Quoting Alamhakim
{quote} Please explain the decision making process for going short? This is missing part of the puzzle..
Hi, I have no expertise on this case, including while talking about this thread only half or a little bit of it. But I am going to discuss it philosophically, in general.

The point is that any indicator is good to be applied on trading activity. The only thing should be noted that indicators couldn't fit exactly 100% to reality.

We need an adjustment, and for that we can modify parameters of an indicator once you found there was failure while applying it. Thats it. An adjustment for the same one or some of indicators, so that those could be applied continuously facing reality from different session, day by day, years by years. Well that's philosophically.

As long as one or some indicators could help us, then it fits for our case, until one day it won't work anymore, then it indicates there is something (parameter) should be adjusted (for the same indicator). Less or more.

That's my opinion. I may be wrong, you just have to put it back on your own experience.

Thank you :-)
  • #36
  • Nov 3, 2015 3:30pm Nov 3, 2015 3:30pm
Quoting Seremonia
Today i took order on USDJPY just about now. And this is an example for today's chart USDJPY intraday analysis (November 3, 2015). It might be going down for today or perhaps tomorrow would be accomplished. {image}
Although the direction could be either way, but at least we could aware for how far we could push our luck.

Attached Image (click to enlarge)
Click to Enlarge Name: 2015-11-03 04_49_16-USDJPY_ 120.789 â-²+0.18% - QuantaDEV - TradingView.png Size: 132 KB


And today, Intraday Analysis. USDJPY, DAILY (NOVEMBER 3-4, 2015)

USDJPY is continuing previous (November 3, 2015) delayed momentum, DOWN.

Attached Image (click to enlarge)
Click to Enlarge Name: 2015-11-04 03_53_24-USDJPY_ 120.993 ▲+0.21% - QuantaDEV - TradingView.png Size: 97 KB
  • #37
  • Nov 4, 2015 9:15am Nov 4, 2015 9:15am
So BB peaks are used to determine those levels. The question is what specfic peaks needed to determine them.
A rule might be good
Dont give up until the "GRAIL" has come
  • #38
  • Nov 4, 2015 3:21pm Nov 4, 2015 3:21pm
USDJPY, DAILY (NOVEMBER 3-5, 2015)

USDJPY is DOWN. Finally, all previous (November 3-4, 2015) delayed momentum will be accomplished today by running on SHORT direction. Beware, there will be huge "down" movement today or cut loss should be attained.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY NOVEMBER 3-5.png Size: 115 KB
  • #39
  • Nov 4, 2015 3:23pm Nov 4, 2015 3:23pm
Quoting Recovery
So BB peaks are used to determine those levels. The question is what specfic peaks needed to determine them. A rule might be good
Logically, the highest peak of previous day and the lowest peak of previous day should be used (whether one hour, 4 hours time frame or 1 day time frame).

Thank you :-)
  • #40
  • Last Post: Nov 5, 2015 1:27pm Nov 5, 2015 1:27pm
USDJPY, DAILY (NOVEMBER 3-6, 2015)

The momentum of USDJPY is still struggling to finish its mission.

Although it looks like bullish for couple days until now, but the momentum actually is down. It seemed like there were sudden moments pushing up many times, but, let's see how strong the core (momentum) will survive finishing last battle to go down.

This day is the last chance for "down momentum" to take action.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY LAST CHANCE - NOV - 3-6 2015.png Size: 74 KB
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