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Trading Aussie Jacko Style

  • #621
  • Feb 19, 2009 9:38am Feb 19, 2009 9:38am
Quoting razldazl
Well, was looking for a better spike up but I sold damn me and lets see where it takes me. Will be using a 50 stop on this one and if Im stopped out Jacko´s AH. Wish me luck...
Pulled my sl to be at +50, man you gotta love it when the market behaves...taking some profit (I have learned I never regret taking some profit) take care, Raz
Never say never.
  • #622
  • Feb 20, 2009 2:37am Feb 20, 2009 2:37am
Hi,
right, we are getting close to the daily supporting trendline and I expect a bounce there, so could be a good profit taking target before the bounce and then a new opportunity to enter or add to your trade...
Attached Image (click to enlarge)
Click to Enlarge Name: aussie daily.gif Size: 16 KB
Never say never.
  • #623
  • Feb 20, 2009 12:05pm Feb 20, 2009 12:05pm
Quoting razldazl
Well, was looking for a better spike up but I sold damn me and lets see where it takes me. Will be using a 50 stop on this one and if Im stopped out Jacko´s AH. Wish me luck...
Well Im still in by the hair of my teeth, I took profit twice so am just letting it run with stop at be, not sure what that huge spike up was all about as Ive been out all day, anyway, just letting it run. Have a great weekend all, Raz
Never say never.
  • #624
  • Edited 1:08am Feb 23, 2009 12:58am | Edited 1:08am
still long from 0,6410

so far it seems AUD has no strenght to clear 0,65 area

first resistance 0,652
support in area 0,64

pls note on the daily that volumes in the recent bounce increased...should be a good long sign
Attached Image (click to enlarge)
Click to Enlarge Name: aususd.gif Size: 24 KB
  • #625
  • Feb 23, 2009 1:14am Feb 23, 2009 1:14am
Quoting fammira
still long from 0,6410

so far it seems AUD has no strenght to clear 0,65 area

first resistance 0,652
support in area 0,64

pls note on the daily that volumes in the recent bounce increased...should be a good long sign
I am out with the rest of my position at breakeven. Will sit back and watch where this is going, but it certainly looks like we have turned around...
Never say never.
  • #626
  • Feb 23, 2009 1:43am Feb 23, 2009 1:43am
Quoting razldazl
I am out with the rest of my position at breakeven. Will sit back and watch where this is going, but it certainly looks like we have turned around...
it seems like a good timing to be long

I wish I could let profit run....sometimes it's even harder than taking losses
  • #627
  • Feb 23, 2009 4:38am Feb 23, 2009 4:38am
stop at 0.6550. I like the 4 hour pin off the 61 fib...lets see how far it goes
Never say never.
  • #628
  • Edited 5:40am Feb 23, 2009 5:28am | Edited 5:40am
Quoting razldazl
stop at 0.6550. I like the 4 hour pin off the 61 fib...lets see how far it goes
I'm long at ~.6500. Stop at .6480. I had previous support drawn at .6490 on the hourly and with the bullish moves today I thought I was in the right direction.

After dropping to within a couple of pips from my stop it's almost back up to break-even. I'm gonna let it run its course but unfortunately I think that might be towards a loss.

Edit: Nah, confidence is gone, got out at BE
  • #629
  • Feb 23, 2009 5:46am Feb 23, 2009 5:46am
Quoting Mister Pip
I'm long at ~.6500. Stop at .6480. I had previous support drawn at .6490 on the hourly and with the bullish moves today I thought I was in the right direction.

After dropping to within a couple of pips from my stop it's almost back up to break-even. I'm gonna let it run its course but unfortunately I think that might be towards a loss.

Edit: Nah, confidence is gone, got out at BE
Posting a chart for you here. I dont know what tf you are trading on, but this is a 4hr chart, as you can see your stop is just a bit tight, because even if this is going up and why not, well it will likely go back to the trendline and 38 fib which comes in around 74...I dont know when you got in or what tf you are trading but maybe you could have taken some profit when we got up to the peak area...who knows if we will go up or down in the end! We still have room to go up even if we do eventually fall and vice versa... heres the chart...
Attached Image (click to enlarge)
Click to Enlarge Name: aussie 4hr tl.gif Size: 19 KB
Never say never.
  • #630
  • Feb 23, 2009 6:06am Feb 23, 2009 6:06am
Quoting razldazl
Posting a chart for you here. I dont know what tf you are trading on, but this is a 4hr chart, as you can see your stop is just a bit tight, because even if this is going up and why not, well it will likely go back to the trendline and 38 fib which comes in around 74...I dont know when you got in or what tf you are trading but maybe you could have taken some profit when we got up to the peak area...who knows if we will go up or down in the end! We still have room to go up even if we do eventually fall and vice versa... heres the chart...
Hey razldazl, thanks for the feedback, and nice chart! I'm trading from the hourly with just support and resistance lines drawn. I'm new to this and I'm a fan of KISS (the principle - not the band). I've attached a screenshot of my chart; the red lines were drawn from the daily tf.

I'm only trading 1 contract so taking 'some' profit isn't an option - I'm either in the trade or out. Oh, and I got in after the drop down from .6550, not before it...

Thanks for the insight. I'll keep practising, but I've gotta get to bed so that's it for tonight.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD090223.png Size: 72 KB
  • #631
  • Feb 23, 2009 6:23am Feb 23, 2009 6:23am
Quoting razldazl
I am out with the rest of my position at breakeven. Will sit back and watch where this is going, but it certainly looks like we have turned around...
Ok so for the first sell at 0.6500:
1/3 @ +50
1/3 @ +120
1/3 @ be

total= +57
Never say never.
  • #632
  • Feb 23, 2009 7:05am Feb 23, 2009 7:05am
Quoting razldazl
stop at 0.6550. I like the 4 hour pin off the 61 fib...lets see how far it goes
Ok,
got my stop at breakeven now, not taking profit for now, USD seems to be gaining strength. Time will tell...
Never say never.
  • #633
  • Feb 23, 2009 9:56am Feb 23, 2009 9:56am
Quoting razldazl
Ok,
got my stop at breakeven now, not taking profit for now, USD seems to be gaining strength. Time will tell...
taking some profit +60
Never say never.
  • #634
  • Feb 23, 2009 2:31pm Feb 23, 2009 2:31pm
Hi,
we are fast approaching a trendline and the 78 fib which I often think of as the last chance for romance, if we break through here and manage to stay/close below on a 4hr+ tf, this trade has a good chance to make it. Otherwise, it could be a nice bounce point for a long. USD seems very strong still...
Attached Image (click to enlarge)
Click to Enlarge Name: aussie 4hr tl.gif Size: 19 KB
Never say never.
  • #635
  • Feb 23, 2009 2:50pm Feb 23, 2009 2:50pm
Quoting razldazl
taking some profit +60
taking some more profit here, at tl, +82, in case we bounce....
Never say never.
  • #636
  • Feb 24, 2009 3:34am Feb 24, 2009 3:34am
Quoting razldazl
taking some more profit here, at tl, +82, in case we bounce....
Hi all,
so trade two for february results:
1/3 @+60
1/3 @+82
1/3 @be

total= 20+27+0= 47 pips

February total so far 104 pips
Never say never.
  • #637
  • Feb 24, 2009 9:55pm Feb 24, 2009 9:55pm
still long from 0,641

today's Australian WPI came out better than expected, as result we saw a spike in AUDUSD to 0,6537

at the moment AUD is giving gains back and was pushed again under 0,65


area 0,6470 is seens as first close support
on the downside 0,6410 - 15 and 0,639 should protect the downside

upside levels to watch are today's high (0,6537) and 0,6550
a test of 0,66 is not excluded in the next sessions
  • #638
  • Feb 25, 2009 2:06am Feb 25, 2009 2:06am
audusd testing daily highs again

if it manages to stay around 0,653 - 0,6550 in the next few hours, the annouced test of 0,66 area is likely

possible extensions to the 0,6650 area where I would take profit of my long position
0,641 and 0,639 still to monitor on the downside
  • #639
  • Feb 25, 2009 2:18am Feb 25, 2009 2:18am
Quoting fammira
audusd testing daily highs again

if it manages to stay around 0,653 - 0,6550 in the next few hours, the annouced test of 0,66 area is likely

possible extensions to the 0,6650 area where I would take profit of my long position
0,641 and 0,639 still to monitor on the downside
Thankyou for your analysis Fammira, I wonder if you follow Jacko´s strategy? This is outlined on the first page of this thread. Its not that I dont appreciate your input but I would like to stick to discussion of Jacko´s strategy on this thread please...for now and until there is a confirmed return to the uptrend (we are currently testing a daily trendline which may give us more clues as to whether we are turning around definitively) I am only shorting the aussie...thanks again for your analysis! Raz
Never say never.
  • #640
  • Feb 25, 2009 3:02am Feb 25, 2009 3:02am
Quoting razldazl
Thankyou for your analysis Fammira, I wonder if you follow Jacko´s strategy? This is outlined on the first page of this thread. Its not that I dont appreciate your input but I would like to stick to discussion of Jacko´s strategy on this thread please...for now and until there is a confirmed return to the uptrend (we are currently testing a daily trendline which may give us more clues as to whether we are turning around definitively) I am only shorting the aussie...thanks again for your analysis! Raz
hi razldazl!

sorry I just read Jacko's strategy, I am actually long on the short term, I think there's potential for a reversal but as you rightly say it's still early to say it

I am actually noticing the relative strenght of the AUD in relation to the recent weakness in equities; I believe that if they may bounce, the australian dollar will follow and a potential uptrend might be resumed
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