Itís just emotions & money
Chicky's House of Pleasure and Pain 11 replies
Carry Backet w/ Jacko's AH 10 replies
Jacko's P&P Trend Trading Method 73 replies
DislikedDaily trendline was broken today, be carefull. If daily close below it, is not save to stay long on euro. Just my opinion!!Ignored
DislikedAccording to Jacko's strategy...would it be ok to go long now on Euro? seems like a bottom to me, but I also thinking whether to wait until price reaches either 1.3500 - round number or falls back to 1.3400, a 50 fib level of the last up move?
How is everybody else now on Euro?Ignored
Why would you want to do that? If the price falls to 1.3400, then wouldn't that just confirm that the short term down trend has not finished? We should be standing aside from the market waiting for the Long term trend to reassert its self.
DislikedHmm .. on second thought .. that's actually a better idea ...
Thanks for reminding me.
No worries mate
3300 seems like a strong support though because it seems to me the history is repeating.
2500 was a resistance in Sep 2005 - it became a support in Jun 2006
2900 was resistance in August 2006 - it became a support in Jan 2007
Fiber is funny. The gap between those supports are 400 pips. LOL
This concept was shown to me by James16 in the PF, its knowen as a PPZ (Price Pivot Zone)
DislikedSeems like the banks love to keep it simple.Ignored
Disliked4. stop thinking that you have to "outsmart" the market.
You don't have to..this business is very easy if you leave your brain at the door....just follow the trend = follow the money =going with the flow = barking with the big dogs.
Stop thinking that "it can't be that easy".......it is!!!Ignored
Two questions which are important to me- Hopefully you too will see them
as important enough to answer.
1. What did you base your thoughts on when you determined
that the downtrend (correction) would be short term -a maximum
of 2 - 3 weeks?
2. What is the significance of the "4 hrly trendline being pierced"?
Your posts have opened up possiblities for many. I have read
them all, copied and pasted important points in them, and
continue to look for them.
Thank you. Looking forward to your answers to the questions
I will answer the above questions in reverse order.
1. The significance of the "4 hrly trendline being pierced" is that it is the first significant trend trading trend line to indicate that a correction is taking place that MAY result in a change in the medium / long term trend. It is to alert trend traders to the possibility that the trend may have changed.
2. Having the point 1 above in mind, I am still sceptical that this is anything other than a short term shallow correction to the long term bull trend for the Euro. (NOTE I could be wwwwrong !!).
My personal thought at this point of time is that maybe 1.3300- 1.3350 will see the bottom of this shallow corection and that it may occur next 7 - 10 days. (NOTE I could be wwwwrong !!).
However, having said that this market looks like retracing, I am NOT recommending that anyone "short" this market.
It is looking a relatively shallow correction and when the bull market is seen to be resuming, it is usual to make 100-150 pips at a time.Ignored
DislikedAnyone else long EURUSD at 3400?
I've been trailing the 50 pip stop all day since entering at 1000 this morning and am now in a free trade.Ignored
DislikedAm currently travelling and holidaying through Germany with wife. Am keeping a watching brief on this trade too.
Thanks for checking in with us! Have a great trip......Lots to see and do in Germany!Ignored
Frankfurt was nice (Except I was charged 192 Euro for a 21 min phone call at the Sheraton).
Now in Koln (or Cologne to us Westerners).
Trade is going well too...
DislikedCome on Jacko, you are not so far from Italy , come here and enjoy the beautiful season right now
Edit : Anyway 192 euro are less that 1 pip for you, so it doesn't hurt so much to you ehehehIgnored
DislikedWe are having a beautiful time here in GermanyIgnored
DislikedJacko started this thread on 4/26. Euro put its high on 4/27 (3674) never to repeat. It's now 300 pips below it....