Jacko's Forex House of Pleasure and Pain | Page 281 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #5,601
  • Dec 8, 2008 4:19am Dec 8, 2008 4:19am
w.jen, so how would you play it?
  • #5,602
  • Dec 8, 2008 4:21am Dec 8, 2008 4:21am
my first candidate is short at 12950 (12955)...second at 13000 (13029)..the first being stronger...but as big boys like round numebers could be they've all shorted at 12900....certainly seems to have lost quite a bit of steam....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #5,603
  • Dec 8, 2008 4:26am Dec 8, 2008 4:26am
With a s/l of 100 pips, hopefully an entry @ 2950 will be ok. It ties in with a trendline on my daily chart.
  • #5,604
  • Dec 8, 2008 6:16am Dec 8, 2008 6:16am
Quoting kaunasny
Yes, your right at some degree. The other point I want to make is that eur/usd retraced passed 50% fib from Nov 21. - Nov 25 . and resumed upward direction. Also untill now we have a triangle forming starting from the end of October. Previous higher lows were only about 50 pips apart. This most recent dowward push ended at over 100 pips higher telling me that eur/usd is strong and not yet ready to drop. So I just believe it can go higher.

P.S. -...
that's really great and awesome observation skills there. it's something i've never pondered about. i guess that's one great thing about coming here - teaches me stuff that i prolly cant learn in books. cheers!
  • #5,605
  • Dec 8, 2008 10:21am Dec 8, 2008 10:21am
Sold earlier @ 1.2874. Just got back in-not looking too good. Threatened to stop me out, and may have another attempt.
  • #5,606
  • Dec 8, 2008 11:06am Dec 8, 2008 11:06am
price now 1.2937

sold @ 1.2940 after a run-up to 1.2953, trailing 100 pips

going back to bed
  • #5,607
  • Dec 8, 2008 2:15pm Dec 8, 2008 2:15pm
I have a sell order at 1.29900 , with 100 pip S/L .
  • #5,608
  • Dec 8, 2008 2:42pm Dec 8, 2008 2:42pm
I put in a sell at 2950 with a SL at 3015. Figure if it really tests the Oct 27 high of 3013 then it may keep on going.
  • #5,609
  • Dec 8, 2008 3:28pm Dec 8, 2008 3:28pm
Ignore my last post on the 3013 as the high of 27 Oct. Looking at too many charts. Did go in at .2950 and have now changed the SL.
  • #5,610
  • Edited 4:28pm Dec 8, 2008 4:15pm | Edited 4:28pm
Quoting yonnie
price now 1.2937

sold @ 1.2940 after a run-up to 1.2953, trailing 100 pips

going back to bed
when 40 pips in my favour, I moved to BE and stopped out.

price now at the daily trendline and sold @ 1.2954, SL 100 pips.
must admit price action does look strong for the last 3 days and we`ll see if the trendline will be honoured.

see how it goes
  • #5,611
  • Dec 8, 2008 7:06pm Dec 8, 2008 7:06pm
Quoting jacko
Hi Wattawatta,

Thanks for your kind words.

I have been a bit remiss in not contributing as much as I would have liked to here on this great forum but I have been very busy with helping the very serious and committed traders who are members of my two small groups.

However, I am looking to spend some more time here. As I have said previously, I think that this is the best Forex forum on the internet.


.

I would like to reiterate Wattawatta's words regarding not only your proficiency in trading the forex but your ability to make such proficiency available to all who honestly listen and use your counsel. You are a great leader, Jacko, and I appreciate the wisdom shared.
  • #5,612
  • Dec 8, 2008 8:49pm Dec 8, 2008 8:49pm
[/quote]price now at the daily trendline and sold @ 1.2954, SL 100 pips.
must admit price action does look strong for the last 3 days and we`ll see if the trendline will be honoured.

see how it goes[/quote]

intraday low 1.2863; added trailing stop 50 pips - will be stopped out @ 1.2913 if price goes up from here.
so 40 pip profit locked in.
  • #5,613
  • Dec 9, 2008 1:46am Dec 9, 2008 1:46am
I was in the same boat as most of the turtles. But last night (UK time) I decided not to re-enter at 1.2900. I subscribe to the thoughts of other people mentioned here... price action seems to have lost a bit of momentum. I saw price reaching the descending trendline on the 4 hour/1 hour but I have been burned in the past, trading inside a pattern such as symetrical triangle. Short term trend seems to by up in 1 hour but 4 hour suggestions more downside. With price action a little slow in comparison to some of the more recent days, I am watching and waiting.
  • #5,614
  • Dec 9, 2008 2:57am Dec 9, 2008 2:57am
Quoting yonnie
w.jen, so how would you play it?

ha..too late.

its testing 1.28 now. thinking of getting on the bus (sell) in the next 4-8 hrs when it comes down again.

WJ
  • #5,615
  • Dec 9, 2008 3:42am Dec 9, 2008 3:42am
Quoting forexbuddha
I subscribe to the thoughts of other people mentioned here... price action seems to have lost a bit of momentum.
yesterday a 250 pip momentum day and shorted today @
1.2950 - just stopped out for a 81 pip profit.
certainly no waiting here
  • #5,616
  • Dec 9, 2008 4:04am Dec 9, 2008 4:04am
Still waiting for my 1.2990 sell price. I will see how PA plays out. If price will start moving toward my target I will take my order off and watch how it will act around that area. Maybe I can get even better price. Maybe 1.3020 ?
  • #5,617
  • Dec 9, 2008 11:44am Dec 9, 2008 11:44am
when do we start considering a change in trend even if temporary to short the dollar...above 13100?..
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #5,618
  • Edited 12:18pm Dec 9, 2008 12:04pm | Edited 12:18pm
just got out of bed

price now 1.2970

sold 1 futures March contract (1.2967) at cash price of 1.3000, TSL 100 pips.

see how it goes

edit: cash price now 1.2942 and changed TSL to 50 pips......a few pips locked in
  • #5,619
  • Dec 9, 2008 1:25pm Dec 9, 2008 1:25pm
Whoa! Just came back from ball game to find my order filled at 1.29900. I did not expect it. I thought I have missed this opportunity already. Market has moved to 1.28996, I have set my S/L to break even. I have T/P target at 1.27900 for 200 pips. Now letting the trade play it self out.
  • #5,620
  • Dec 9, 2008 5:53pm Dec 9, 2008 5:53pm
Quoting kaunasny
Whoa! Just came back from ball game to find my order filled at 1.29900. I did not expect it. I thought I have missed this opportunity already. Market has moved to 1.28996, I have set my S/L to break even. I have T/P target at 1.27900 for 200 pips. Now letting the trade play it self out.

Nice!

I`m also short. Started out with a series of shorts (I like to scale in entries) in the rising market (not very good way to go, and not the way to do it) and I ended up holding 4 shorts from 1.2970 - 1.2987 after scaling out no less than 11 bad shorts, barely in profit. Thats the last time I`ll do the scaling in this way. Either wait for the target like Kaunasny did, og sell on the way down. I was lucky and got away this time in profit. Stoploss @ 1.2965 - I really want to hold on to this trade...

Happy trading everyone!
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