Hey jmss - how's the testing/trading going? Are you seeing any benefits in using your monthly baselines rather than bobi's yearly ones. I noticed that if you were using bobi's you would have entered that trade at 138.673 and have been out at 139.073 ...

Are support and resistance levels predetermined?

and you Tom (us Brits should really get something like Thanksgiving going - it seems like a great celebration). Steve

Are support and resistance levels predetermined?

Thanks for posting this - I've not seen Magic Levels before - can you expand onn what they are and how they work/are calculated please? Cheers Steve

Are support and resistance levels predetermined?

Given the level of potential confusion regarding rules for the templates (and my own ability to get my two brain cells twisted) I thought I would put Bobi's posts outlining the rules for the different templates in a PDF. I strongly recommend you ...

Are support and resistance levels predetermined?

Here you go You will need to read the thread for the rules of each template image

Are support and resistance levels predetermined?

Ok - now you need to match the length you have entered on these to the templates and baselines decribed in the thread.

Are support and resistance levels predetermined?

So, have I got T4F completley wrong - I think I might have - call me Captain Thicky. When bobi says price breaks 61 or 38 and should reach a target he doesn't actually trade those breaks he only trade the reversal break of 100% - is that right? ...

Are support and resistance levels predetermined?

Hi jmss59 - thanks for the input. I agee that the 100%+10 is a vaild trade. The question I have for bobi is whether, like on T5_103F, the original short trade is still active, or whether the trend reversal invalidates it. I've been working on the ...

Are support and resistance levels predetermined?

Hey mima Have you entered the template length and baseline on the indicator? Check post 7 for description.

Are support and resistance levels predetermined?

Thanks Tom. I don't think there are any real 'pros' (as you referred to them in a previous post) here except bobi, which means we are all working out how to apply the rules for ourselves - and as you'd expect we can all have slightly different ...

Are support and resistance levels predetermined?

I understand what you're saying. But, bobi describes that he hedges his trades knowing that even is there is a reversal the target will be met. Yes there is a trend reversal when the 100% is crossed, but that doesn't mean the original target is ...

Are support and resistance levels predetermined?

Not sure what you mean by T4Y is not to point to a specific target... Price has fallen below 61.8% by 10 pips and should reach 23.6% (80 pip target) as long as it doesn't pullback past 100%. image

Are support and resistance levels predetermined?

Here's my w/end analysis and what I see for the pairs. Let me know if you think I've missed something... image image image image

Are support and resistance levels predetermined?

Hey b.bayatc - I think Taypot summed it up well - I would go through the whole thread - (it's not too long), make a note of all the baselines and rules for each template (indicator on first page) and develop a plan/method of how you want to trade ...

Are support and resistance levels predetermined?

Hey tomthepoppop - according to Bobi's rules price needs to have come from 59 pips below the 0%/100% and then broken the 23% line by 14 pips (you can check the rules for T4Y_680 on post no. 207 (note the 68.3% on the short rule should read 76.4% ...

Are support and resistance levels predetermined?

FOr those interested I am now finally flat on EJ - total of 7 trades (mixture of T5_103F and TF4_220). Hopefully the image shows how I traded up and down the DDs, hedging my position and then releasing it. Image is on the 220 chart, but I have tried ...

Are support and resistance levels predetermined?

Hi tomthepoppop To be honest I don't think the timeframes make any difference. If we are setting out entries at levels and targets at certain prices - then it doesn't matter whether you are looking at day candles or 1 min candles. Having said that, ...

Are support and resistance levels predetermined?

Bobi's rules for 220 require price to have come from the 76% of the lower phase (23% of upper phase if going short). This seems to be be the norm for most templates - I use it as an entry rule - I think it helps getting stuck in a range.

Are support and resistance levels predetermined?

I use a Paint X - but I use Macs.

Are support and resistance levels predetermined?

Oh ok.

Are support and resistance levels predetermined?