Are there any universal support and resistance levels in the forex market? - page 11
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These price levels are calculated using the correlation of historical quotes.
I'm not saying they're right, but there is some consistency between current price resistance and historical resistance.
Finished the above
It's getting late. I'll think about it tomorrow.
You have to come to the point where you don't need a chart.
Volume as well as quote are in constant change, volumes can move at a distance from the quote creating an illusion, in the end it may never work)
Volume like a quote is in constant change, volumes can move at a distance from the quote creating an illusion, in the end it may never work)
Topeka starter gave the formula ;)
... gave a formula) well yes, the movement of historical volume is impossible)
... gave the formula) well yes, the movement of historical volume is impossible)
To move the issue of universal levels forward, I calculated support and resistance levels for the EURUSD H1 chart, see template: "Sup Res EURUSD.tpl".
Next, levels for other symbols were added, provided their calculated price did not differ by more than 2 points from the EURUSD level in four digits, see template: "Sup Res All symbols.tpl".
Finally, all EURUSD levels have been removed to show only those corresponding to the calculated support and resistance levels for the other symbols, see template: "Sup Res Sub symbols.tpl".
It is not known if this plays a role in forex trading. I would also add that the calculation of support and resistance levels for the H1 chart is not a good example, because of their large number. But since the goal was to find out if such levels exist, the H1 chart was fully compliant.
Why does no one understand how prices move?
No need to look at history. How many sub/cop levels do you want to create, still the price doesn't look at what came before.
Why is it so?
Price movement depends on human factor. And humans are unpredictable, especially those with billions.
One never knows which of them will make an intervention and when. The central banks of big countries are also involved.
And so the price moves arbitrarily, breaking through any levels and in any quantity.
Don't look for or calculate levels based on history. That does not work. Machine learning does not work either.
Why does no one understand how prices move?
No need to look at history. How many sub/cop levels do you want to create, still the price doesn't look at what came before.
Why is it so?
Price movement depends on human factor. And humans are unpredictable, especially those with billions.
One never knows which of them will make an intervention and when. The central banks of big countries are also involved.
And so the price moves arbitrarily, breaking through any levels and in any quantity.
Don't look for or calculate levels based on history. That does not work. Nor does machine learning work.
In case things don't go according to plan, there are stops.