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Hi all, i just want to discuss a simple strategy (absolutely not new, to everybody i think), anyway very good i think.
Well, let's start to talk about support and resistance as how i see them!
In the market, there are as you know points of support what happen when price touch them?
It happen one of these two things:
1) When price touch/break a support point, experienced buyers start to buy, and experienced sellers close their sell position and start to buy them too, in this case the price give a fast up-move, to escape from the support.
Same happen for resistance, but just the inverse.
2) When price is touch/break a support point, i don't know what exactly happen in "an hypotetical PIT", anyway it happen that support become resistance, and act as a REAL resistance, giving a fast down-move to the price.
Now, what i want to do, is open trades only when one of these two things happen, but.. how to recognize which one of two will happen?
I've done a screenshot to let you better understand what i'm talking about, i hope it is clear to understand!
Do you have any suggestion? Any method to filter some bad trades (if u look the image, u see that the bad-ones can be a good ones too, if able to identify the fact that "that" support point is a STRONG support point, and will not become resistance when breaked of some pips, and inverse for resistances.)
I will continue to study for find a good filter, anyway, i'm seriously looking for some suggestion about it, anything and anybody is welcome, tnx for reading
Levels of support and resistance – these are some of basic elements of the Forex technical analysis, in accordance with axioms of which
1. From the current price of currency couple there are always levels of
À ) resistance – higher than currant price
B) support – lower than currant price
2. Penetration of the level shall mean a jump to the next level of resistance/support
3. Failure to penetrate (or false penetration) of the level causes kickback opposite direction (from resistance to support)
Thus, knowing levels of resistance / support and criteria of the true and false penetration, a trader can accurately open deals, operating from one level of resistance / support to the next level
In more details about it you can read there.
I'm studing this trade system and it's very profitable one for me.
Just now I start to understand what is Forex...
Hi,
I just began reading this thread after a fellow member recommended it to me. It seems like i'm rather late. I noticed that some posts are refering to what bubble said previously, but I can not find his posts in the thread. What happened to his posts? I wanted to learn this trading method.
Here's a pdf I made from a word document that someone saved and posted earlier in this thread. I can't remember who actually posted it, but it was quite generous of them. I'm a bit too lazy at the moment to go back and find the post (I think it was in a page in the 40's or so). In any event, they did a great service by compiling this after Bubble erased all his posts. I merely changed the page format and saved it in "landscape" because it was easier to page thru with Adobe Reader on my computer.
Bubble went on to mentor a few folks for a fairly steep price, though I feel certain they probably got their money's worth. In any event, here's the file. Enjoy!
Here's a pdf I made from a word document that someone saved and posted earlier in this thread. I can't remember who actually posted it, but it was quite generous of them. I'm a bit too lazy at the moment to go back and find the post (I think it was in a page in the 40's or so). In any event, they did a great service by compiling this after Bubble erased all his posts. I merely changed the page format and saved it in "landscape" because it was easier to page thru with Adobe Reader on my computer.
Bubble went on to mentor a few folks for a fairly steep price, though I feel certain they probably got their money's worth. In any event, here's the file. Enjoy!
Here's a pdf I made from a word document that someone saved and posted earlier in this thread. I can't remember who actually posted it, but it was quite generous of them. I'm a bit too lazy at the moment to go back and find the post (I think it was in a page in the 40's or so). In any event, they did a great service by compiling this after Bubble erased all his posts. I merely changed the page format and saved it in "landscape" because it was easier to page thru with Adobe Reader on my computer.
Bubble went on to mentor a few folks for a fairly steep price, though I feel certain they probably got their money's worth. In any event, here's the file. Enjoy!
Ed
Someone in another post mentioned in another thread that he trade S/R using the bubble system, I guess this may be it. He posted his demo statement using the bubble system, and it was very impressive. Thanks for posting...
Here's a pdf I made from a word document that someone saved and posted earlier in this thread. I can't remember who actually posted it, but it was quite generous of them. I'm a bit too lazy at the moment to go back and find the post (I think it was in a page in the 40's or so). In any event, they did a great service by compiling this after Bubble erased all his posts. I merely changed the page format and saved it in "landscape" because it was easier to page thru with Adobe Reader on my computer.
Bubble went on to mentor a few folks for a fairly steep price, though I feel certain they probably got their money's worth. In any event, here's the file. Enjoy!
Someone in another post mentioned in another thread that he trade S/R using the bubble system, I guess this may be it. He posted his demo statement using the bubble system, and it was very impressive. Thanks for posting...
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