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Jacko's Forex House of Pleasure and Pain

  • #841
  • Sep 17, 2007 7:37am Sep 17, 2007 7:37am
Quoting SeekingLight
I'll just pretend one of the above posts included an answer to me as well with the "We may see 1.3800" ;p

Good good..
Sorry SeekingLight,

Just found your post. It was two pages back.

You are also correct. However, I think that it may be worth waiting until just before Mr Bernanke starts to make his statement. We may see 1.3800.

I see no reason to take a position just yet. Now is a good time to be NOT in the market.
  • #842
  • Sep 17, 2007 7:58am Sep 17, 2007 7:58am
Quoting jacko
Sorry SeekingLight
Hey jacko, it's no prob, just felt left out

Question was answered either way and I'm glad we've got the same area in mind =)


I am very curious to see how this week unfolds indeed.

Best of luck to everyone =)
Trust price. Know yourself.
  • #843
  • Sep 17, 2007 8:12am Sep 17, 2007 8:12am
Thanks for the responses. That clarified things a lot for me.
  • #844
  • Sep 17, 2007 8:27am Sep 17, 2007 8:27am
just wondering what i should do ......should i set any orders above or below current eur/usd price ?

the time of the interest rate announcement is several hours past my bedtime.....
  • #845
  • Sep 17, 2007 8:46am Sep 17, 2007 8:46am
Quoting findcount
just wondering what i should do ......should i set any orders above or below current eur/usd price ?

the time of the interest rate announcement is several hours past my bedtime.....

Hi findcount,

Gee....hmmmm....why not set the alarm?

Or does your fluffy teddybear that you sleep with dislike being woken up ?




Sorry, I am just joshin you....

.
  • #846
  • Sep 17, 2007 8:57am Sep 17, 2007 8:57am
Quoting SeekingLight
Hi jacko, wondering whether you're looking at 1.3800 and 1.3740 / 1.3750 as well


I'm looking to get in again "at a cheaper price"

Got a handful of reasons why it might not be the worst idea at 1.38...but keeping an open mind towards the second level as well.

BR,

SL
Hi SL:
you mention 1.3740/50,is it because 50% fib from bottom 1.3553 on 09/04 to top 1.3927?cheers
  • #847
  • Sep 17, 2007 9:20am Sep 17, 2007 9:20am
Quoting jacko
Hi findcount,

Gee....hmmmm....why not set the alarm?

Or does your fluffy teddybear that you sleep with dislike being woken up ?




Sorry, I am just joshin you....

.

hehehe...........how could i forget Man's greatest invention ?

thanks a million for replying...........

i've a bad feeling things will not go as expected though........
  • #848
  • Sep 17, 2007 6:14pm Sep 17, 2007 6:14pm
Hi, Jacko! I've read thru whole thread and find it very useful. I actually use some of your ideas, like buying deeps and others but you helped to get a fresh look on the whole issue and some new ideas. Never used the AH thou, but I think it's a very good strategy too. Thank you for sharing your thoughts and ideas and I hope will be able to contribute something on my own to this thread, but I can be wrrrong.
  • #849
  • Sep 17, 2007 6:55pm Sep 17, 2007 6:55pm
Quoting hlauw
Hi SL:
you mention 1.3740/50,is it because 50% fib from bottom 1.3553 on 09/04 to top 1.3927?cheers
Yes indeedelydoo.

Time for bed here, too.

N8N8
Trust price. Know yourself.
  • #850
  • Sep 18, 2007 2:22am Sep 18, 2007 2:22am
Quoting jacko
Hi Newbietrader101,

You are correct. However, I think that it may be worth waiting until just before Mr Bernanke starts to make his statement. We may see 1.3800.

I see no reason to take a position just yet. Now is a good time to be NOT in the market.


.
hey jacko. the eur has slowly floated down to 3827. so 3800 looks a good buy. I have a buy in at 3800
  • #851
  • Sep 18, 2007 2:31am Sep 18, 2007 2:31am
Quoting cesarnc

jacko, 3800 is "crazy and you are wrrroonnnggg".

Everytime I have this kind of thoughts, it turns out you are RRRIIIGGGHHTTT

Me too staying aside until Fed. My bet is "no-cut + BS + selloff" tomorrow. In this case, euro could be a buy at 3800 from below or 3750 that is the 50% fib of last bullrun.. (fib 3551 - 3927)

dude, i used to say the same things. but i have lernt that he is better at picking turning points than me
  • #852
  • Sep 18, 2007 2:44am Sep 18, 2007 2:44am
i'll wait till the interest rates statement is done, let e market do some euphoric and continue the long ride...800 seems like a nice place to get, im just wondering if it could just go lower? anyway i parked one at 850 for a breakout play....what do you think?
  • #853
  • Sep 18, 2007 3:16am Sep 18, 2007 3:16am
Quoting jacko
Hi findcount,

Gee....hmmmm....why not set the alarm?

..
Sorry, I am just joshin you....

.
jacko and newbietrader101,

I'm going to wait till 1.3800 too ...
  • #854
  • Sep 18, 2007 4:07am Sep 18, 2007 4:07am
I entered long at 1.3850 due to a pin bar at 1 hour candles at 07:00 Uk time (GMT+0). a Pin bar has also developed on the 4 hour chart. if it goes against me I will enter at a lower price using AH.
  • #855
  • Sep 18, 2007 1:52pm Sep 18, 2007 1:52pm
Quoting rancliff
I entered long at 1.3850 due to a pin bar at 1 hour candles at 07:00 Uk time (GMT+0). a Pin bar has also developed on the 4 hour chart. if it goes against me I will enter at a lower price using AH.

rancliff,

Lookin' good. wd.

Neil.
  • #856
  • Sep 18, 2007 2:22pm Sep 18, 2007 2:22pm
Quote:
Originally Posted by rancliff http://www.forexfactory.com/images/buttons/viewpost.gif (http://www.forexfactory.com/showthread.php?p=1598665#post1598665)
I entered long at 1.3850 due to a pin bar at 1 hour candles at 07:00 Uk time (GMT+0). a Pin bar has also developed on the 4 hour chart. if it goes against me I will enter at a lower price using AH.


rancliff,

Lookin' good. wd.

Neil.
__________________
Insanity: doing the same thing over and over again and expecting different results.
-- Albert Einstein.

**************************************************************************************


Yes. Looks like I entered at the bottom and now the trailing 50 stop is locking in the profit after the interest rate news anouncment. Currently 82 pips locked in. Lets see until were it goes...

R.
  • #857
  • Sep 18, 2007 3:45pm Sep 18, 2007 3:45pm
I took the 4h one instead from 1.3875 => 1.3950
(and I used Elliot Wave logic as an excuse, too, hah! Hehehe *winks*)

Still have a bit from 1.3595 to trail out..I'm curious how deep the correction I'm expecting will be....


@jacko: If we fall back down one last time, let's say to 1.3775 or better or similiar - would you be a buyer?
Trust price. Know yourself.
  • #858
  • Sep 18, 2007 8:05pm Sep 18, 2007 8:05pm
Quoting jacko
Hi FXholic,

This is my fundamental overview that colours my thinking about the long term USD market.

I definitely believe that the $USD is going to weaken over the next few months. As I have stated before, my long term target over the next 12 months is 1.4500.

...................


As I said in my initial posts (see post 8), I believe that there has been a seismic shift in the "strength" of the US dollar as the worlds primary currency.
This seismic shift moved the USD from 1.2000 to 1.3800.

I now believe the next step in this seismic shift will move the US dollar from its current figure of 1.3400 to 1.4500 within 12 months

Our foolish politicians have irresponsibly squandered the enormous wealth of the US on stupid follies (Can anyone put their hand on their hearts and say that the people of Iraq are better off today than before we went in chasing "mythical" weapons of mass destruction? We have totally destroyed a country for no "justifiable" reason and sent their people back to the stone age living standards. Congratulations, George W....the rest of the world salute you.)

Also, due to the Asian meltdown, the Iraq situation, and also now the Credit meltdown caused by dishonest US bankers, the US is fast losing the trust and "good faith" of the world's political elite and the worlds major business players.

When the sh*t hits the fan, don't expect the rest of the world to want to bail us out.

The USD is going to get into trouble sooner and worse than people think.


But....I could be wwwrong !!!


.
I posted this on 8/22/2007 when the market was at 1.3450.

It has now reached 1.3987 (which is more than 50% towards the target) in less than one month.

I think that it may take less time than 12 months to reach 1.4500.

The really sad thing is that our own President and his cronies/supporters have prostituted the USD and damaged our economic reputation far, far more than any enemy force could have done.

It is becoming very obvious that the world no longer sees the USD as THE major world currency. The usd will soon be just "another" currency, along with the Euro, Yen, CHF, GBP and Yuan.

It is sad, really sad to see a mighty force (USD) being humiliated in such a stupid way.


.
  • #859
  • Sep 18, 2007 8:17pm Sep 18, 2007 8:17pm
Quoting jacko
Hi Newbietrader101,

You are correct. However, I think that it may be worth waiting until just before Mr Bernanke starts to make his statement. We may see 1.3800.

I see no reason to take a position just yet. Now is a good time to be NOT in the market.


.

Unfortunately, I didnt get in at 1.3800, so I had to buy in the 90 minutes before Mr Bernanke spoke (ave price 1.3870).

The USD is being re-rated by the world economies. Look for a HUGE shift in the balance of Chinese holdings in the next twelve months. Japan will also follow China.


.
  • #860
  • Sep 18, 2007 9:19pm Sep 18, 2007 9:19pm
Quoting jacko
It is sad, really sad to see a mighty force (USD) being humiliated in such a stupid way.
I totally agree, and second that...
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