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Jacko's Forex House of Pleasure and Pain

  • #3,401
  • Apr 24, 2008 8:07pm Apr 24, 2008 8:07pm
Hello

So we just had some interesting PA at 5700 level. I started thinking come on Bulls but now we are back down 5690. Who was it who mentioned watching the PA at these key levels?

TP
  • #3,402
  • Apr 24, 2008 8:37pm Apr 24, 2008 8:37pm
Quoting ferose
just curious, at what price are we looking at if the ECB wants the EU to go below ?
cheers..

I am looking at 50% retracement levels, trend lines, round numbers and former areas of resistance.
Since the 4hr chart has fallen below all of these, I am going to the day chart now and I am going to keep an eye on the price action and any clues that we are starting back up (exhaustion spikes).
I hope that helps.
Camptrader
  • #3,403
  • Apr 24, 2008 8:44pm Apr 24, 2008 8:44pm
FYI - I'm in with a AH trade at 1.5695. 100 pip trailing stop.

-Sean
  • #3,404
  • Apr 24, 2008 8:51pm Apr 24, 2008 8:51pm
Quoting camptrader
I am looking at 50% retracement levels, trend lines, round numbers and former areas of resistance.
Since the 4hr chart has fallen below all of these, I am going to the day chart now and I am going to keep an eye on the price action and any clues that we are starting back up (exhaustion spikes).
I hope that helps.
thanks camptrader...yes, of course we can look at the charts...just that if there is any other 'info' at what price the EU wants to be..
make money up or down...whatever ! :
  • #3,405
  • Apr 24, 2008 8:55pm Apr 24, 2008 8:55pm
Sean

I got a position at 5655 a few hours back. I've put my stop at BE through indecision. I'd rather not have any more losers this week. No more running for me until the walking goes better.

TP
  • #3,406
  • Apr 24, 2008 9:20pm Apr 24, 2008 9:20pm
Quoting ferose
just curious, at what price are we looking at if the ECB wants the EU to go below ?
cheers..
Now that's a trillion dollar question. I have got absolutely no idea.

Personally I don't really care what the price goes down to, although the deeper it goes the more upside there is when it heads up again. As I am only trading with the long term up-trend.

I am mechanically in at 1.5700, current TSL at 1.5609. If it fails then it will be resurrected at some stage as a A/H. I also have a A/H buy at 1.5767.

K8
  • #3,407
  • Apr 24, 2008 9:24pm Apr 24, 2008 9:24pm
Quoting takeprofit
Sean

I got a position at 5655 a few hours back. I've put my stop at BE through indecision. I'd rather not have any more losers this week. No more running for me until the walking goes better.

TP
Nothing wrong with slowing down, just don't give up. I've seen plenty of good trading methods tossed aside during a period of drawdowns. All systems/methods have drawdowns. Focus on the rules and trade small until you are playing with the casino's money. You will be fine.

Some quick fib analysis for possible entry/support:

From the March 23rd low to the all-time high we have the 50% at 5679 as was discussed earlier. At 61.8% (non-Jacko) is 5599, making the 5600 round number interesting. From the Feb. 6th low there are 38.2% (non-Jacko) of 5414, the 50% at 5228, and finally the 61.8 (non-Jacko) of 5041. And don't forget the March 23rd low of 5340.

So if we are entering a retracement/reversal period these should be some key numbers to be aware of. As stated some are not Jacko endorsed, but as Jacko said himself back in post #6, "But I am also starting to notice that it doesn't really matter anymore where I buy or sell. The anti-hedging strategy is FAR, FAR, FAR more important."

-Sean

PS This thread will be ONE YEAR OLD on April 26th, HAPPY BIRTHDAY!
  • #3,408
  • Apr 24, 2008 9:25pm Apr 24, 2008 9:25pm
maybe jacko knows... oh jacko...where are you..ur insight here is muuuch needed..
make money up or down...whatever ! :
  • #3,409
  • Apr 24, 2008 9:45pm Apr 24, 2008 9:45pm
I was wondering how profitable this system is in terms of pl ratio and pips/week. i am researching and learning systems and would like some input from senior members. any advice to a newbie please pm me. thanks!
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #3,410
  • Apr 24, 2008 11:00pm Apr 24, 2008 11:00pm
Quoting Khornate8
jlmac27,

The private blog isn't secretive at all. Basically everything that Jacko alludes to in the private blog he will put on this forum if he thinks it is appropriate. Search the whole FF site using the search function for posts by jacko and you will get his latest thoughts. A lot of the members, including myself ,are reluctant to post what is on the blog, not from secrecy, but from the fact that we may have misinterpreted somethng, therefore leave it to Jacko.

He is very concious of the fact that a lot of newer traders will simply follow him blindly without knowing why. Even Jacko has taken some decent hits in the last month (as posted here). The Private blog is in no way a signal service, more a place where he offers insights into his method and if any of us has questions we can email him and he WILL personally reply to our email. If the email is one that he believes benefits the majority he will include the reply on the blog for all to see.

Please don't take this as a personal hit on you, just thought I'd throw it up again (Sorry Jacko if I have spoken out of turn)

Cheers,

K8
Jacko is still the biggest and best trader here. he dosent like being reefered to as a signal service. he just lets people in his group see his trades warts and all. no bullsh#t anywhere. and he warns people if he is moving into a risky trade like the CT trades. he is always telling me to be careful and why. I like to trade more than Jacko. he has been the best thing that has ever hapened to me
  • #3,411
  • Apr 24, 2008 11:05pm Apr 24, 2008 11:05pm
Quoting ferose
thanks camptrader...yes, of course we can look at the charts...just that if there is any other 'info' at what price the EU wants to be..
Ferose, I have not heard of a particular number, but it certainly would be nice if we could know that.

I think the goal of an intervention is to reverse the trend but I don't see that happening just yet. The fundamentals do not yet support a reversal and the technicals are still quite bullish above a 4hr chart.

The 1.5200 level meets all of the requirements (former resistance, round number, 50% fib of the move from 1.4438 on Feb 2.

The only problem is that it may not make it down that far since this is such a bullish market so I may try a higher number or two and then depend on the Ah if it continues down to the 1.5200 or who knows 1.49000 (but I think that would be a huge shocker).
Camptrader
  • #3,412
  • Apr 24, 2008 11:09pm Apr 24, 2008 11:09pm
Quoting Dopey
I disagree. They aren't variations per se, it's just a bunch of people who can't read properly, or if they can, don't pay attention.
your rite about that.
  • #3,413
  • Apr 24, 2008 11:19pm Apr 24, 2008 11:19pm
ok camptrader...yup, the 50% fib is at that level..however, hoping for now, the EU is still bullish ..just that...i want to able to take that ride back again..
thanks for your kind feedback..
make money up or down...whatever ! :
  • #3,414
  • Apr 24, 2008 11:23pm Apr 24, 2008 11:23pm
congratulations

Quoting newbietrader101
he has been the best thing that has ever hapened to me
  • #3,415
  • Edited Apr 25, 2008 12:12am Apr 24, 2008 11:34pm | Edited Apr 25, 2008 12:12am
Quoting tdion
congratulations
I'm sure that such a great successful trader like yourself is really speaking from the heart on that one...
  • #3,416
  • Apr 25, 2008 12:07am Apr 25, 2008 12:07am
Quoting ferose
thanks camptrader...yes, of course we can look at the charts...just that if there is any other 'info' at what price the EU wants to be..
ferose, no I do not have any number as to where the EU wants the Euro, but that would be nice! Jacko has not told us he knows of any such number.

I think the goal of intervention is to reverse the trend but that is not likely with the current fundamentals and technicals, it will likely just turn out to be a daily chart retracement.

The 1.5200 area fulfills all the requirements (round number, 50% retrace from 1.4438, prior resistance).
Having said that, I think we may reverse before that level is reached because this market is so bullish (above the 4hr chart), so I will likely try one or two levels above 1.5200 and depend on the AH if it continues down to 1.5200 or maybe even 1.4900(not very likely).

I think it is tough trying to take trades too soon as we are currently in a strong and more extensive retracement, it is much easier when the Euro starts moving back up.
Camptrader
  • #3,417
  • Apr 25, 2008 12:08am Apr 25, 2008 12:08am
I posted twice because I thought the first reply did not post
Camptrader
  • #3,418
  • Apr 25, 2008 1:14am Apr 25, 2008 1:14am
Certainly some interesting reading these past few pages! An observation I have (which I'm sure anyone who has been/lurked around FF long enough will know) is to see what PRICE itself is doing, ie PA/James16 Chart Thread. Although not used by Jacko, PA clearly complements his method. A weekly chart shows 2 bearish pins (although not perfect) and a daily chart shows the current state of affairs with the break to the downside of a bearish inside bar. Although I'm posting this after the fact (and yes my demo account suffered a few losses due to being impatient), perhaps another weapon to add is daily bullish price action setups occuring at trendlines and/or the 50 fib. At the moment there's not a single reason to go long whatsoever but will be interesting to see what happens when price reaches some former support/resistance. Already at bargain levels, so a bit more patience waiting for an 'A+ ' setup is all that's needed
  • #3,419
  • Apr 25, 2008 1:14am Apr 25, 2008 1:14am
Is that it?
  • #3,420
  • Apr 25, 2008 1:20am Apr 25, 2008 1:20am
http://img187.imageshack.us/img187/4933/30265911mh5.jpg
stops just below 1.5500

In my opinion, this TL need to hold in order for the uptrend to remain intact. Comments are welcome.
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