It’s just emotions & money
- Joined Oct 2005 | Status: Pip Slappa Extrordinaire | 1,012 Posts
You are in a maze of twisty little passages, all alike.
Chicky's House of Pleasure and Pain 11 replies
Carry Backet w/ Jacko's AH 10 replies
Hello Guys is a pleasure to be here. I'm new to MT4 1 reply
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
Dislikedluqmanz,
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.
Enjoy
AdemacIgnored
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)
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
DislikedJacko:
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
above.
Ignored
DislikedHi winterwhite,
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
DislikedThanks.
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...
.Ignored
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
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....
Go figure...Ignored