Jacko's method is, as many other methods, applied in strict circumstances. The guy was clear enough in his first postings - EURUSD is the most trendy couple, on which is based his trading strategy. Now, after quite a period of time in consolidation, it is obvious that things are reshaping. That does not mean that Jacko's method is becoming useless. It means that it's much less useful at this moment. And maybe, just maybe, there's another curency couple that would fit better to his method at this particular moment.
As to BabeFX's conclusions - I do not agree. Mostly because August 07 is not the moment when the accennding trend begins. Using the same logic but with the real trend star it becomes obvious that there's a lot of movement to pass before the 50% retracement is hit.
Using the Elliott Wave principle, which I believe is very strong on the market I would say this is a 4th wave of the majour cycle and we'll see a bullish move soon enough, fallowed by a much bigger corrective move afterwards. This is ofcourse just another scenario
Sorry if my english is a bit poor - it's just not my native languge. But since I doubt that any of you may speak Bulgarian I guess it will work fine http://www.forexfactory.com/images/icons/icon10.gif This is my first posting here so I hope it will be useful to someone.
Regards
As to BabeFX's conclusions - I do not agree. Mostly because August 07 is not the moment when the accennding trend begins. Using the same logic but with the real trend star it becomes obvious that there's a lot of movement to pass before the 50% retracement is hit.
Using the Elliott Wave principle, which I believe is very strong on the market I would say this is a 4th wave of the majour cycle and we'll see a bullish move soon enough, fallowed by a much bigger corrective move afterwards. This is ofcourse just another scenario
Sorry if my english is a bit poor - it's just not my native languge. But since I doubt that any of you may speak Bulgarian I guess it will work fine http://www.forexfactory.com/images/icons/icon10.gif This is my first posting here so I hope it will be useful to someone.
Regards