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Trading Aussie Jacko Style

  • #21
  • Jun 2, 2008 1:48am Jun 2, 2008 1:48am
Quoting razldazl
hey tom,
nice post thanks!


Bollinger bands are very useful in determining price direction. You will notice that whenever the bands tighten, price will explode out in a direction that is pretty much determined by the attitude of the 200 EMA
Don't chase the market, Let the market come to you
  • #22
  • Jun 2, 2008 7:50am Jun 2, 2008 7:50am
tomorrow...so bound to be some profit taking on longs today, people will focus on comments so although the uptrend will resume on hawkish comments its probly best to stand aside until thats overwith, take care, Raz
Never say never.
  • #23
  • Jun 2, 2008 8:01am Jun 2, 2008 8:01am
Quoting razldazl
tomorrow...so bound to be some profit taking on longs today, people will focus on comments so although the uptrend will resume on hawkish comments its probly best to stand aside until thats overwith, take care, Raz
Guess who's speaking on Tuesday and Wednesday? Get ready to pull the trigger on euro later tonight
  • #24
  • Jun 3, 2008 4:24am Jun 3, 2008 4:24am
My order got filled at .9600. Im curious to see how it will turn out. the last bounce off .9500 seems quite strong in my opinion, and Aussie didnt even penetrate .9500; it missed it with 1 pip.
We leave no soldier behind.
  • #25
  • Jun 3, 2008 4:28am Jun 3, 2008 4:28am
Quoting gagiul
My order got filled at .9600. Im curious to see how it will turn out. the last bounce off .9500 seems quite strong in my opinion, and Aussie didnt even penetrate .9500; it missed it with 1 pip.
Are you going long or short?
Expected the unexpected
  • #26
  • Jun 3, 2008 4:48am Jun 3, 2008 4:48am
Quoting scyang
Are you going long or short?
obviously long
We leave no soldier behind.
  • #27
  • Jun 3, 2008 4:49am Jun 3, 2008 4:49am
Quoting gagiul
obviously long
Not sure if it's so obvious. This thing has been overbought technically. Fundamentally, there was no rate increase in the earlier statement, and no plan to increase in the near future.
Expected the unexpected
  • #28
  • Jun 3, 2008 5:05am Jun 3, 2008 5:05am
Here we trade Jacko's method, so since Aussie is in an uptrend, we only buy.
And I also wrote in a previous post in the upper side of the page what my orders were.

Anyway, even if its overbought, seems that the medium term trend will push Aussie higher.

This is taken from Mizuho Tech Analysis:
<<Powering ahead to a new high for the year, in turn the Australian dollar’s best level against its US counterpart since March 1984 when it hit a record high 0.9650. Like the Canadian dollar and Swiss franc have done already, many are now talking parity here. Our view is unchanged and our measured target remains at US$0.9900 (and probably US$1.0000 just for the fun of it!). In fact the Australian dollar is currently not especially overbought having spent most of this year getting used to holding over 0.9000. Interesting too that at-the-money implied volatility is way below last year’s peaks, suggesting current price action is sustainable over the medium term. >>

This reminds me of what jacko said, that for the big players its a lot of fun to push prices towards round numbers such as 1.0000

Quoting scyang
Not sure if it's so obvious. This thing has been overbought technically. Fundamentally, there was no rate increase in the earlier statement, and no plan to increase in the near future.
We leave no soldier behind.
  • #29
  • Jun 3, 2008 6:41am Jun 3, 2008 6:41am
Quoting zoopy
Guess who's speaking on Tuesday and Wednesday? Get ready to pull the trigger on euro later tonight
Ahem. One word... BERNANKE lol
  • #30
  • Jun 3, 2008 6:49am Jun 3, 2008 6:49am
Quoting zoopy
Ahem. One word... BERNANKE lol
So whats the score now zoopy, 11 out of 12 we go up before Ben starts yapping?
Never say never.
  • #31
  • Jun 3, 2008 6:53am Jun 3, 2008 6:53am
Quoting razldazl
So whats the score now zoopy, 11 out of 12 we go up before Ben starts yapping?
11 of 14 lol. That's still pretty good I'd say.
  • #32
  • Jun 3, 2008 7:22am Jun 3, 2008 7:22am
Quoting Tmac


Bollinger bands are very useful in determining price direction. You will notice that whenever the bands tighten, price will explode out in a direction that is pretty much determined by the attitude of the 200 EMA
Attitude or altitude? And I see you are using 30m charts...so if the squeeze happens when price is supported by 200 ema then we are more likely to go up and vice versa? Or is price attracted by the ema and will go towards it..its interesting you say that because I have watched bollingers and keltner channels together which is quite accurate in predicting a breakout...but as for direction of breakout that is another story...
Never say never.
  • #33
  • Jun 3, 2008 8:23am Jun 3, 2008 8:23am
It looks like that golden opportunity will be coming up soon to go long.
I dream, therefore I become.
  • #34
  • Jun 3, 2008 8:55am Jun 3, 2008 8:55am
I'd be careful of any longs right now. We're still getting waves that are collapsing. Whenever this happens, price goes down further. Best to wait for it to bottom out until we start making waves going higher then look for an entry to go long again.
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  • #35
  • Jun 3, 2008 8:57am Jun 3, 2008 8:57am
Quoting scyang
Not sure if it's so obvious. This thing has been overbought technically. Fundamentally, there was no rate increase in the earlier statement, and no plan to increase in the near future.
I did say I wasn't so sure. Hope those who are long had stoploss.
Expected the unexpected
  • #36
  • Jun 3, 2008 9:19am Jun 3, 2008 9:19am
Quoting zoopy
I'd be careful of any longs right now. We're still getting waves that are collapsing. Whenever this happens, price goes down further. Best to wait for it to bottom out until we start making waves going higher then look for an entry to go long again.
Excellent style Zoopy.
I dream, therefore I become.
  • #37
  • Jun 3, 2008 9:21am Jun 3, 2008 9:21am
Quoting mike w
Excellent style Zoopy.
Thanks Mike.

I always say, better to be safe than sorry
  • #38
  • Jun 3, 2008 1:28pm Jun 3, 2008 1:28pm
So you know what guys, I like this pair. While eur dropped to hell (230 pips) aussie dropped 80...so Im still wondering if we will get below 9500...what do you guys think..
Never say never.
  • #39
  • Jun 3, 2008 1:45pm Jun 3, 2008 1:45pm
Quoting razldazl
So you know what guys, I like this pair. While eur dropped to hell (230 pips) aussie dropped 80...so Im still wondering if we will get below 9500...what do you guys think..
Poopy says we will. Wave looks like it's going to collapse
  • #40
  • Jun 3, 2008 1:57pm Jun 3, 2008 1:57pm
so let me get this straight, Im getting trading advice from a piece of poo now? loll
Never say never.
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