Hi armyda I have decided to stay out of AU for a while - the direction to me isn't clear and as I mentioned in a previous post it has two targets 700 pips apart - I don't know which way it will go first, and as I hedge my trades I want to try and ...

Are support and resistance levels predetermined?

I thought similar about one of the EJ baselines and questioned gobi on it, but he said it was correct, so I figure they are all correct. Look at post n0. 205/206 As I don;t understand how the formula works to calculate them, I have to take them on ...

Are support and resistance levels predetermined?

You're right it is really tricky - it seems the thread is dying down without bobi here - I'm not sure how many people are trading the templates. I think trying to find confluence between the templates can increase confidence in the entry.

Are support and resistance levels predetermined?

Now I have been corrected this throws up a really interesting situation - as I see it (someone please tell me if I'm wrong). T4Y_1130 is Bullish - Has broken 50%, needs to reach roughly 0.9831 and T5_2_2 is Bearish - broke 50% from 76.4 - needs to ...

Are support and resistance levels predetermined?

You're right - I stand corrected. I'd been through these so many times - can't believe I still had one wrong

Are support and resistance levels predetermined?

Not on my chart it hasn't - are you changing the 'Baseline' and 'Length' fields on the templates? image Do you have different lines for each templates. For each pair I have 6 charts open each with a different template and baseline. 680 Below ...

Are support and resistance levels predetermined?

I'm still not sure I understand. T5965 has a phase size of 965 pips, and T5_594 has a smaller phase size of 594. In general, the larger the template the longer a trade on that template will take to complete. The smaller the template, the quicker the ...

Are support and resistance levels predetermined?

I am pretty sure the templates are not supposed to 'change' or move from one to another they stand in their own right and work within each other. Think of the templates as giving signals for different length trends (or even timeframes). If T5_965 ...

Are support and resistance levels predetermined?

Bobi (or anyone else with an opinion) When looking at T5_594, on AU, price has broken the long reversal zone and reached it's target and reversed without going into the next upper phase. Is the 50%-38.2% area now a support area? or does price need ...

Are support and resistance levels predetermined?

I'm sorry, I'm not quite sure what you are asking. The rules for T5_965 are For Longs - When price travels from below 23.6% and breaks 50% by 21 pips it will reach 76.8% For Shorts - When price travels from above 76.4% and breaks 50% by 21 pips it ...

Are support and resistance levels predetermined?

Hi armyda. Only bobi can give baselines that have not already been given. Even he won't know the baselines for 2014, until the new year. Steve

Are support and resistance levels predetermined?

I think so, it did complete that sell trade on the 7 Nov, and got to the 23.6% again (not the full 40 pip target though) second time around I'm not sure whether there is any rule or observation about repeating trades within a phase - ie is the ...

Are support and resistance levels predetermined?

I agree - the chart cannot 'make the news' - I would say that news is neutral for the mid to long-term direction. It may cause a surge or a brief pullback - but news in itself just creates noise.

Are support and resistance levels predetermined?

True. As it has come back below the 100%, I am leaning on it completing the sell target and then at some point reversing and then completing the reversal target (1.3597) on the way up in the longer term target for T4Y_1130.

Are support and resistance levels predetermined?

Hi all For those interested here is my anaylisis of last week action with a summary of where I think price is heading. image image image image I am currently long on EJ and GU. Both dropped a lot last week due to to news (I nearly had ...

Are support and resistance levels predetermined?

No problem - thanks for the 'head vouch'

Are support and resistance levels predetermined?

Taypot - I think it is for a T4Y template in another thread. All baselines for the templates in this thread are for the year. Steve

Are support and resistance levels predetermined?

Hi asgha For Longs If Price has come from 76.4% of the lower phase set order to trigger when it crosses up over the 38.2% by 7pips (not sure if bobi adds spread as well) For Shorts If Price has come from 23.6% of upper phase, set order to trigger ...

Are support and resistance levels predetermined?

Got one T5_103 on the way back up. When everyone is screaming GU is going to drop like a stone - it goes up again!! My faith in this system just keeps getting stronger (I use the word faith because I don't understand it, yet I think I believe it! ...

Are support and resistance levels predetermined?

Hi Egumektk, I'm not sure I am seeing what you see. I see a lot of bounces of the 50% fibs, but not sure how they fit with the rules. Can you post the setups with charts? Steve

Are support and resistance levels predetermined?