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Are support and resistance levels predetermined?

See post 257

Are support and resistance levels predetermined?

Understood

Are support and resistance levels predetermined?

Hi Jmss59 - I'm afraid I don't understand your point. Bobi's templates don't factor ATR/Daily range at all. I understand 7 points to be the amount a level needs to break on the T5_103 template - not sure what you mean by 'protection level'. I can ...

Are support and resistance levels predetermined?

Hi Bobi Have you noticed whether whether the probability of a phase being hit weakens over time if it has been completed a few times before. EG if price is ranging, a phase on the T5_103F may be completed a few times during the range period - is it ...

Are support and resistance levels predetermined?

Well that was tough. I took an Oil short on the T5_103F as I said I would above - it didn't reach target and decided to hedge - so no SL. I set a pending long for the above phase, which got filled and completed - and then price reversed to try and ...

Are support and resistance levels predetermined?

Not sure what you mean by template 3 or what you mean by error or which pair you're looking at - can you explain more what your seeing - preferably with a chart.

Are support and resistance levels predetermined?

Well what do you know - on Friday I was looking for opportunities in oil - I too two trades on the T5_103, 1 win, 1 loss. I also had a missed opportunity which would have won, but I screwed up the pending order and it didn't trigger. The loser was a ...

Are support and resistance levels predetermined?

Hi Tonynewbie I've generally been using the 103 and t4f templates.

Are support and resistance levels predetermined?

Hi taypot - out of interest what are you using for SL/BE rules? I'm struggling to find a way that allows the room, but doesn't leave me with a 2:1 RR or a massive hedge as bobi does.

Are support and resistance levels predetermined?

Bobi does mention T5_5 in the oil numbers, but 386 doesn't tally with anything else... T5_5: Phase Length=386 pips , Baseline=60

Are support and resistance levels predetermined?

Thanks Paul - I've only been trading 3 years - so a mere baby compared to you. But in my three years, I have spent a ridiculous amount of time and money (blown accounts) on my 'education', and finally feel like I am making some sense out if it all - ...

Are support and resistance levels predetermined?

Heaveneze, I think the other thing I would say is that there are many ways to trade. All have merits, and all have disadvantages - this site is filled with the majority trying to work out the merits/drawbacks of different methods, approaches. The ...

Are support and resistance levels predetermined?

I suggest you ask specific questions about things you don't understand and I (and probably others) will help where we can. However, some of us who have been trading for a while are still getting to grips with Bobi's methods and are still working it ...

Are support and resistance levels predetermined?

I did take a look at the other thread, and decided it would just confuse me (which isn't hard to do). So I'm working on if it's not here, I'm ignoring it. Good trading to you.

Are support and resistance levels predetermined?

I think as Bobi mentions his trades in another thread, he is referring to something not mentioned in this thread. It's the one confusing thing here, trying to work out which template is being referred to, and whether it's one mentioned here.

Are support and resistance levels predetermined?

So quick update, I was short on the EJ using the T4F template. Price went above the 100% mark, so I closed at a loss and have opened a long targeting the 23.6%. Hope that's right. I've never hedged before and need to get my head around that before I ...

Are support and resistance levels predetermined?

Thanks for the charts - so is the 23.6%-38.2% area always the protection zone? And you set baseline by daily pivot - which timezone, as they all have slightly different pivot numbers - where do you find yours?

Are support and resistance levels predetermined?

I've used Prorealtime a bit in the past, but finding MT4 works ok for this, but I now have so many tabs/charts to monitor I need to create a system. I'm wondering whether I can take '0's off and scalp

Are support and resistance levels predetermined?

Wow - I love that. It's uncanny. To check I've got this right looking at oil on using T5_1030, price has come from 23.6, broken the 61.8% by 70, and should go for 400 pips more. image Is that right?

Are support and resistance levels predetermined?