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Jacko's Forex House of Pleasure and Pain

  • #4,461
  • Jul 10, 2008 12:05pm Jul 10, 2008 12:05pm
Quoting mmccormac
Let's see if that channel you have will hold the day first.
Agree! In any case, if the channel is valid i think we will see 1,5450 by next week which will be the last buying opprtunity before we will make new highs. As usual, just my 2pips.
  • #4,462
  • Jul 10, 2008 1:07pm Jul 10, 2008 1:07pm
Quoting onlinefx
Agree! In any case, if the channel is valid i think we will see 1,5450 by next week which will be the last buying opprtunity before we will make new highs. As usual, just my 2pips.
i pray for this for the last 4-5 trading days, and i was beginning to doubt what my chart is telling me, while price is going against me. Good to hear someone with the same thinking.
  • #4,463
  • Jul 10, 2008 1:40pm Jul 10, 2008 1:40pm
Quoting onlinefx
Agree! In any case, if the channel is valid i think we will see 1,5450 by next week which will be the last buying opprtunity before we will make new highs. As usual, just my 2pips.

That is about 330 pips down from the current level. You could make a trade when the price gets back to the daily trendline, which would be at around 1.5700. There is also an opportunity of buying at 1.5600, which is the current 50% fib level. Only then is 1.5450 next.


Just my thoughts.
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  • #4,464
  • Jul 10, 2008 1:42pm Jul 10, 2008 1:42pm
Quoting peaches
i pray for this for the last 4-5 trading days, and i was beginning to doubt what my chart is telling me, while price is going against me. Good to hear someone with the same thinking.
Just make sure you have a definitive plan to exit in case this scenario is invalidated. Although the reward can be quiet good on this short trade,I personally will not trade it as it is against the major trend. Either i will buy after the potential drop or i will enter long at some point after the fog disappears.
  • #4,465
  • Jul 10, 2008 1:47pm Jul 10, 2008 1:47pm
Quoting hendrix
That is about 330 pips down from the current level. You could make a trade when the price gets back to the daily trendline, which would be at around 1.5700. There is also an opportunity of buying at 1.5600, which is the current 50% fib level. Only then is 1.5450 next.


Just my thoughts.
Hendix, I agree. I just believe, if this channel is indeed valid we will likely see a pretty solid drop down to the last level, although we definitely would have to watch those higher levels that you mentioned as well.
  • #4,466
  • Jul 10, 2008 1:48pm Jul 10, 2008 1:48pm
Quoting onlinefx
Hendix, I agree. I just believe, if this channel is indeed valid we will likely see a pretty solid drop down to the last level, although we definitely would have to watch those higher levels that you mentioned as well.
The Gold and Oil markets don't agree with a fall just yet (take a look at what oil is doing right now).
  • #4,467
  • Jul 10, 2008 1:54pm Jul 10, 2008 1:54pm
Quoting mmccormac
The Gold and Oil markets don't agree with a fall just yet (take a look at what oil is doing right now).
You never know what the so called news will be tommorrow .
  • #4,468
  • Jul 10, 2008 2:05pm Jul 10, 2008 2:05pm
Quoting onlinefx
Just make sure you have a definitive plan to exit in case this scenario is invalidated. Although the reward can be quiet good on this short trade,I personally will not trade it as it is against the major trend. Either i will buy after the potential drop or i will enter long at some point after the fog disappears.
price has just been rejected from where it stat hurting and where we would be my exit. So, i´ll stick to my plan until i see something else. It is against the major trend, so it is a risk, I know.

Forex is interisting.
  • #4,469
  • Jul 10, 2008 2:19pm Jul 10, 2008 2:19pm
It makes no sense at all to argue about where things will be tomorrow. The market will prove us wrong or right. Do your analysis, make a decision, take your trade and it will work or it wont. Period. Its all we can do...
Never say never.
  • #4,470
  • Jul 10, 2008 3:02pm Jul 10, 2008 3:02pm
Quoting razldazl
It makes no sense at all to argue about where things will be tomorrow. The market will prove us wrong or right. Do your analysis, make a decision, take your trade and it will work or it wont. Period. Its all we can do...
You tell'em girl........
Same Whore .... Different Dress
  • #4,471
  • Jul 10, 2008 5:12pm Jul 10, 2008 5:12pm
Quoting luqmanz
Congrats to you .. must be making good money now

Hi luqmanz,

yes man thanks, it is working well right now, but I found 5690 too strong to be riched so AGAIN, I've moved it to 5700 and my order was filled out, on my broker quote ask price touch 5693 and went up!!!
TSL @ 5752

Good trades to all

TRADETHEPIPS
  • #4,472
  • Jul 10, 2008 6:16pm Jul 10, 2008 6:16pm
Can someone remind me whether Jacko adds to positions generally and on what basis? thanks so much
  • #4,473
  • Jul 10, 2008 6:49pm Jul 10, 2008 6:49pm
Quoting Trumpcard
Can someone remind me whether Jacko adds to positions generally and on what basis? thanks so much

Hi TCard, in the last oportunity, jacko added his position when has almost +150 pips. Added 50% of initial lots. I think he is applying the same rules (pullback to 50% fibo or round 00 or s/r).

Good luck.
  • #4,474
  • Jul 10, 2008 7:32pm Jul 10, 2008 7:32pm
Quoting razldazl
It makes no sense at all to argue about where things will be tomorrow. The market will prove us wrong or right. Do your analysis, make a decision, take your trade and it will work or it wont. Period. Its all we can do...
Cant agree more with this ...
  • #4,475
  • Jul 10, 2008 7:46pm Jul 10, 2008 7:46pm
Btw... If it breaks 5800 .. its going to the moon
  • #4,476
  • Jul 10, 2008 7:48pm Jul 10, 2008 7:48pm
had to watch from the sidelines on the last move 'cause my buy limit was missed by 1 pip...so in at 5710 this time - leaving some $$ on the table, i'm sure, but would rather have an active trade.
  • #4,477
  • Jul 10, 2008 8:11pm Jul 10, 2008 8:11pm
Currently in from 1.5700....stop moved to breakeven and letting the trade play out.
  • #4,478
  • Jul 10, 2008 8:31pm Jul 10, 2008 8:31pm
Im in at 5760 .... no idea if this trade will work okay ...
  • #4,479
  • Jul 10, 2008 8:38pm Jul 10, 2008 8:38pm
Thanks Goldworkers, I'm still in at 1.5650 and added at 1.5760...
  • #4,480
  • Jul 10, 2008 9:53pm Jul 10, 2008 9:53pm
Jacko is a top line trader. Uncanny ability. 120+ pips for me in one trade in the last two days. Keep them coming Jacko
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