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Jacko's Forex House of Pleasure and Pain

  • #6,561
  • Mar 11, 2009 9:18am Mar 11, 2009 9:18am
Quoting dwildes
The E/U lately has definitely been following the upward trend channel very nicely.

The places in blue is where I'm looking for shorts.

I closed my earlier short entries due to price action not holding under the monthly pivot around 1.2760 for a small profit. I was wanting to see an aggressive move through those levels of resistance, which I didn't see. Preserving my account and waiting for better entries.

I want to see a spike up to around 1.2850-1.2880 to get to the 2nd tier of shorts.

If I got out too early, life goes on - better than being on the wrong side of the trade.
  • #6,562
  • Mar 11, 2009 9:36am Mar 11, 2009 9:36am
I almost entered short at 2750. Prior to joining Jacko I would have. Patience is probably the biggest thing i have learned here.
  • #6,563
  • Mar 11, 2009 9:58am Mar 11, 2009 9:58am
What made you not enter short at 1.2750?

http://i41.tinypic.com/a4vjm9.gif
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  • #6,564
  • Mar 11, 2009 10:12am Mar 11, 2009 10:12am
Quoting flyer415
I almost entered short at 2750. Prior to joining Jacko I would have. Patience is probably the biggest thing i have learned here.

Maybe i am missing something but price seems to be contained by daily TL.
I entered half size at 1.2750 and another one at 1.2800..If it fails i wait for A-H
Some drink at the fountain of knowledge. Others just gargle !
  • #6,565
  • Mar 11, 2009 10:12am Mar 11, 2009 10:12am
Quoting Money4Nothing
What made you not enter short at 1.2750?
The primary thing was that i was believing that it could go up to 2850. Price was going down but i looked at it and said you know it's gonna stop at the 2750 (previous resistance line on H4 and Daily) and reverse. Also for my feed it just happens to be a Long Target1 on a Fib calculation. It went through it on the way up and now it becomes a lower band as well.

Prior to this I would have panicked and thought that i was going to miss the train and jumped on at 2750. Figured that it will either do what i think or I will have to look for another trade later on. Either way no harm to me.

It went to 28025 which is LT2 for me and reversed as well. that was harder to turn away from.

Now i am sitting to see if it will go to 2850. If it doesn't then so be it.
  • #6,566
  • Mar 11, 2009 10:15am Mar 11, 2009 10:15am
Quoting plan-b
Maybe i am missing something but price seems to be contained by daily TL.
I entered half size at 1.2750 and another one at 1.2800..If it fails i wait for A-H

I showed it thrusting up over the daily TL but then retracing and is now contained as you say.

nothing wrong with your plan. I have hit my objective for the month so I am perhaps being conservative.
  • #6,567
  • Mar 11, 2009 10:26am Mar 11, 2009 10:26am
My H4 bar closes in 34 minutes and it is looking like a nice reversal candle at this stage. perhaps I will regret not getting in higher. I will see how this bar closes. PA would say go short.
  • #6,568
  • Mar 11, 2009 11:01am Mar 11, 2009 11:01am
WEll the bar closed no negative pinbar so i will wait some more.
  • #6,569
  • Mar 11, 2009 11:02am Mar 11, 2009 11:02am
Hi all

The US session is making me dizzy, up and down, up and down, up and down, all for less than 50pips at a time.

I am noddiing my head so much watching this market, that Mrs Jacko thinks I am agreeing with everything she is saying...LOL

.
Jacko
  • #6,570
  • Mar 11, 2009 11:05am Mar 11, 2009 11:05am
Quoting jacko
Hi all

The US session is making me dizzy, up and down, up and down, up and down, all for less than 50pips at a time.

I am noddiing my head so much watching this market, that Mrs Jacko thinks I am agreeing with everything she is saying...LOL

.
Jacko
hahahah - at least I'm not the only one! Had to take some dramamine awhile ago!

Hopefully we'll break this channel soon
  • #6,571
  • Mar 11, 2009 11:06am Mar 11, 2009 11:06am
Quoting BullsAndBear
Jacko,

when you say sell,,,,the whole world must be listening,,,LOL, the bears jumped all over that rally. Like it fell off a cliff, haha

Thanks for the fine system to enjoy these trades

bulls
Hi bulls,

Thanks for your kind words. 150+ pips in a short time is always nice.

.

Jacko
  • #6,572
  • Mar 11, 2009 11:09am Mar 11, 2009 11:09am
Quoting jacko
Hi all

I am noddiing my head so much watching this market, that Mrs Jacko thinks I am agreeing with everything she is saying...LOL

.
Jacko
Might want to be careful, Mrs Jacko might be telling you all the things she is planning on buying!
  • #6,573
  • Mar 11, 2009 11:21am Mar 11, 2009 11:21am
Quoting Fx_Genius
Might want to be careful, Mrs Jacko might be telling you all the things she is planning on buying!
She probably is... LOL


.
Jacko
  • #6,574
  • Mar 11, 2009 11:38am Mar 11, 2009 11:38am
the usd index is positioning for a pullback, we may see further retrace/rally on eur

bulls
Whats happening in EUR/USD should be happening to you!
  • #6,575
  • Mar 11, 2009 12:47pm Mar 11, 2009 12:47pm
http://thelidodeck.com/images/bull_channel1.bmp

Being an FNG here, I had a question given our current state of, as Jacko said, head nodding.

It looks as though things are wedging down with the bull channel providing the support and the bear trend providing resistance. Is this a time to be on the sidelines waiting for a break, or is it still a strong entry around the bearish trendline (orange)?

You can make a lot of pips if that trendline holds and the channel yields to the bears, but I'm trying to be more patient and wait for less risky moves. So I'm guessing you like the idea of selling in the vicinity of the down trendling (orange) and apply AHS if it continues up to the top of the channel?

If it gives up that trendline, wheres the next point up to look for? A larger picture retrace?

My other thought is to wait for a break from the bullish channel and get in on a pullback.

Any thoughts are appreciated...

Thanks again to all the good people here taking their time to help others out.

Moose
  • #6,576
  • Mar 11, 2009 12:50pm Mar 11, 2009 12:50pm
Quoting flyer415
The primary thing was that i was believing that it could go up to 2850....

Thanks for sharing.

I am learning to trade when I see a "3". Read THIS (http://www.forexfactory.com/showpost.php?p=2589240&postcount=283)


http://i44.tinypic.com/2pr6z2d.gif
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  • #6,577
  • Mar 11, 2009 2:21pm Mar 11, 2009 2:21pm
Quoting dwildes
I want to see a spike up to around 1.2850-1.2880 to get to the 2nd tier of shorts.
I love it when a plan comes together!
  • #6,578
  • Mar 11, 2009 2:25pm Mar 11, 2009 2:25pm
I was still waiting here. trying to figure where this can go.
  • #6,579
  • Mar 11, 2009 2:44pm Mar 11, 2009 2:44pm
Well... I pulled the trigger short @ 1.2847... 100TSL set. PA pressed up against H4 bull channel, and H1 upper TL.... so let's see where we go from here.
Addicted and proud of it!
  • #6,580
  • Mar 11, 2009 3:48pm Mar 11, 2009 3:48pm
Looking good so far...

http://i41.tinypic.com/dwf0bk.gif
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