Quoting JohnFXDislikedUSDJPY has a Price Magnet way down at 117.62
JohnFXIgnored
USDJPY now has Price Magnets at: 118.52 & 118.78
JohnFX
Fair value interest trading + magnets 9 replies
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Quoting SteveFareastDislikedGod!!! I can't believe it's true! My hero!
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Quoting JohnFXDisliked117.62 target hit. It was at 118.60 when I made this call late on Monday. I had a 117.65 One-Touch option, so it work perfect.
USDJPY now has Price Magnets at: 118.52 & 118.78
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Quoting JohnFXDislikedThanks Steve, we must have been typing about the same time. You beat me to the post. Like I said previously, the USDJPY works the best. Doesn't mean the EURUSD won't get to its target, but often takes a lot more patience you take more "heat" on the trade.
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Quoting slateDislikedHi John
I've followered this thread since the scalping title (i know you still do scalp), but this is a stunning performance by your magnets. It makes me chuckle how you can predict these numbers. I'm waiting on the euro 1.2010 to give me my next belly laugh.
I do doth my cap to you Sir.
slateIgnored
Quoting TrumpcardDislikedJohn, how are you able to tell the speed at which the magnets will be reached? Im curious as youve mentioned a couple of times that the euro 2010 magnet may take a while. do the magnets have an inbuilt speedo?
TrumpcardIgnored
Quoting AdstaDislikedFirstly, John - Thank you very much for sharing your insights with us. I ve been following your thread for sometime and expreimenting with different entries, stops and limits which is certainly a challenge. Even tried the box option feature in Oanda but missed out by a few hours on one of the magnets. Going to have a play around with hedging soon.
A couple of quick Q's
Are the JPY magnets still valid?
Do magnets ever dissapear or expire?
Once again thanks for posting on this thread. I, like many, appreciate it.
CheersIgnored
Quoting JohnFXDislikedHello Adsta, Thanks for the post. The candle formations that I call magnets are always there on the charts once created, so technically the don't disappear. The part I still struggle with (in Forex) is the entry. Is it practical to still consider the JPY ones valid? That's difficult since the JPY bias is strongly down now. Depends on what type of trader one is, wether or not you want to have a target that is 200 - 300 pips away. The 117.27 & 117.49 targets would be the highest probability right now on a retrace. There is also now a target at 116.18 which is not too far away. To be honest with everyone, I have been watching the Mini Dow Index, with regards to the Price Magnets and have more confidence in the performace on that, escpecially on an intraday basis.
Thanks;
JohnFXIgnored