Excellent - I wonder if it will give the next long today (1.65723) - I hope so .

Are support and resistance levels predetermined?

Hi Girimonti - I would zoom out and look left as far as it takes to get a clear picture. Moving averages are often used to determine the trend (if it's pointing up, then trend is up etc.) the 200 simple moving average on the daily gives the broadest ...

Are support and resistance levels predetermined?

Hi Zo I'm not trading EJ using abonacci as bobi hasn't given the 2014 baselines for it - you haven't missed anything - in fact I haven't traded EJ this year at all (I do have some GJ trades on the go with other strategies).

Are support and resistance levels predetermined?

The way I see it, price opened in 2014 above the signal. As 2014 baselines are based on 2013 price action it would make sense to me to take into account the 2013 price leading up to 2014 signal. I asked the users of the T3 and T4Y template from the ...

Are support and resistance levels predetermined?

Good shout. I took that trade as I believe there is a T4Y_1130 long signal (TP circa. 1.6830) in play as well as the T4Y_680 short (although I think I remember you saying you don't see it as a valid trade)

Are support and resistance levels predetermined?

Hi Tom - slow day on the markets today - hope you had a good bank holiday though. I guess there are many ways to trade abonacci signals. I think trading with the bias of the larger templates is sensible. It may be better to not actually trade the ...

Are support and resistance levels predetermined?

Weekend analysis (as I see it) - as always post if you think I've missed anything/got anything wrong. image image image Have a great weekend Steve

Are support and resistance levels predetermined?

Nice one . You held on longer than me

Are support and resistance levels predetermined?

I'm in that one to - but I think we need to keep in mind we only have a few templates of the 64 bobi has developed. He has said he sees EU reaching 1.4455 in 2014 according to a template that is bigger than any we have here (I thinks its 1180 or ...

Are support and resistance levels predetermined?

Thanks - I'm still short on the T5_680 trade, but it's a smaller lot size as the DD can theoretically be that much bigger, conversely my T5_103 trades tend to be more aggressive in terms of lot size. It tends to work until you get failed T5_103s and ...

Are support and resistance levels predetermined?

Closed out on the 23.6%. A few pips early of TP, but I needed to shake it off as I am starting to get a bit more exposed than I would like. Still, pips is pips.

Are support and resistance levels predetermined?

Ah, I see. I still have that open. jmss59 is right in that the short is the more inline with the immediate trend (according to the T5_680 template). I am seeing it as a pullback in the primary trend which has been up for a while, so I am keeping it ...

Are support and resistance levels predetermined?

Not sure what you're referring to Jay. Steve

Are support and resistance levels predetermined?

Is anyone else in this EU T5_103 short?

Are support and resistance levels predetermined?

Got there in the end .

Are support and resistance levels predetermined?

That's a little bit like how long is piece of string. I tend to look at any signals on other templates on the opposite side of the trade. So for example - I think there is a bearish signal on the AU T4Y_680 which is targeting 0.8700 - so in ...

Are support and resistance levels predetermined?

Morning - a couple of things in response. I still have the long open, and will probably leave it until it reaches TP - I have the position hedged by a previous short I had taken - so I'm quite comfortable with it doing what it wants. If I am being a ...

Are support and resistance levels predetermined?

Hi Zo Yes I'm still in it. I've been in meetings today, so not been able to see any charts, so I'm a little blind at the moment. I've got it hedged so I will look later on and see what's what. Steve

Are support and resistance levels predetermined?

Wow - that looks messy. It doesn't show me anything I'm afraid. Keeping the templates on different screens would be clearer. I can just make out that you have template 3 and T4Y in there. I don't use Template 3 so can't help with that at all.

Are support and resistance levels predetermined?

I am using last year's price action as being part of this year's setup (after all this year's baselines are based on last year's PA). It broke past the 76.4% in Nov and is now below the 50%, so I'm taking it as a valid trade. I know others are not ...

Are support and resistance levels predetermined?