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Jack C's Trade Plans and Ideas

  • #1
  • First Post: Edited Jun 5, 2009 4:39pm Jun 4, 2009 7:33pm | Edited Jun 5, 2009 4:39pm
This journal revolves around the following:

BUY at support and SELL at resistance.

I ask that you please save the chit chat for more public threads. I want to use this as both an education and personal journal.

Thanks,

Jack
  • #2
  • Jun 5, 2009 8:50pm Jun 5, 2009 8:50pm
Price action is now bullish on USD/CAD.

Here is my plan for the start of the week (June 8).

Wanting to buy a 61.8% retracement of current leg up at 1.1030, which is also support/resistance plus a trendline.

Bearish 1-hour MACD divergence may help bring it down to that area.

Target will remain as per my sentiment at 1.15
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  • #3
  • Jun 5, 2009 9:38pm Jun 5, 2009 9:38pm
The pound isn't that clear .. Definitely volatile the past few days.

I favor a short in the 50/61.8% retracement zone (6300-6380).

Target remains as per my sentiment at 5300.
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  • #4
  • Jun 6, 2009 7:57am Jun 6, 2009 7:57am
For EUR/USD, I favor a short near 4075/4120 with a 1.3700 target.
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  • #5
  • Jun 7, 2009 8:42pm Jun 7, 2009 8:42pm
Quoting jack.canadia
For EUR/USD, I favor a short near 4075/4120 with a 1.3700 target.
UPDATE ... Same area with update fib ... that wick was response to news so i excluded it .. We see now in this configuration the 61.8 overlaps almost exact to the neckline of the HS pattern.

Larger fib has a 38.2 at about 4080 overlapping with the 50%.

SHORT between 4070 and 4120 with 3700 target

UPDATE 2:

1.4080 = 38.2% fib, 50.0% fib, weekly pivot point
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  • #6
  • Jun 7, 2009 8:53pm Jun 7, 2009 8:53pm
Quoting jack.canadia
Price action is now bullish on USD/CAD.

Here is my plan for the start of the week (June 8).

Wanting to buy a 61.8% retracement of current leg up at 1.1030, which is also support/resistance plus a trendline.

Bearish 1-hour MACD divergence may help bring it down to that area.

Target will remain as per my sentiment at 1.15
UPDATE

Showing two fibs now ... area of interest still 1.1030/1.1060

Contained here are a trendline, 38.2%, 50% and 61.8% and weekly pivot (1.1060)
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  • #7
  • Jun 7, 2009 8:58pm Jun 7, 2009 8:58pm
Quoting jack.canadia
The pound isn't that clear .. Definitely volatile the past few days.

I favor a short in the 50/61.8% retracement zone (6300-6380).

Target remains as per my sentiment at 5300.
UPDATE

Looking more towards 6180 now ...

a 78.6%, 50% and near 38.2% .. weekly pivot @ 6188 .. beyond 6200 look for 6240 ish (a 38.2, 61.8 and old support).
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  • #8
  • Jun 8, 2009 3:11pm Jun 8, 2009 3:11pm
?????
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  • #9
  • Jun 8, 2009 5:14pm Jun 8, 2009 5:14pm
Similar in the EURO ... I plan to short the 38.2% retracement.
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  • #10
  • Jun 8, 2009 5:35pm Jun 8, 2009 5:35pm
DJIA ... Closing above 200 SMA as dojis and decreasing volume ...
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  • #11
  • Jun 8, 2009 5:37pm Jun 8, 2009 5:37pm
FXB .. British pound ETF .. I use this for some volume data.

See high volume on the down days, indicating professional selling interest. Today was an up day on lower volume ... I favor shorts.
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  • #12
  • Edited 11:43pm Jun 9, 2009 3:25pm | Edited 11:43pm
Quoting jack.canadia
DJIA ... Closing above 200 SMA as dojis and decreasing volume ...
Another Doji! I am extremely bearish on this pair .. This is called a tri star formation.
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  • #13
  • Jun 9, 2009 3:25pm Jun 9, 2009 3:25pm
Quoting jack.canadia
FXB .. British pound ETF .. I use this for some volume data.

See high volume on the down days, indicating professional selling interest. Today was an up day on lower volume ... I favor shorts.
Another up day on low volume for the ETF.
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  • #14
  • Jun 9, 2009 7:53pm Jun 9, 2009 7:53pm
This has been asked of me. Here it is.
Attached File(s)
File Type: pdf The Trading Style of Jack Canadia Part 1.pdf   1.3 MB | 766 downloads
  • #15
  • Jun 10, 2009 1:31am Jun 10, 2009 1:31am
Quoting jack.canadia
This has been asked of me. Here it is.
Nice one, thanks!

I didn't know about the pivot point targets, e.g. price starts at M1, target is M3. I haven't seen that in any of the literature. Do you remember where you read/heard that from?
  • #16
  • Jun 15, 2009 4:08pm Jun 15, 2009 4:08pm
DOW...

Closed slightly below its 200 SMA and on visual resistance. The fall was on lower volume so I don't know how true it is yet. Needs a daily close below 8600 to be bearish.
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  • #17
  • Jun 16, 2009 11:48am Jun 16, 2009 11:48am
Quoting jack.canadia
DOW...

Closed slightly below its 200 SMA and on visual resistance. The fall was on lower volume so I don't know how true it is yet. Needs a daily close below 8600 to be bearish.
8600 level is now broken .. daily needs to close below this level to switch the bias to bearish for the DOW. Favor a drop to the 7850/8000 level.
  • #18
  • Jun 16, 2009 11:49am Jun 16, 2009 11:49am
Quoting jack.canadia
8600 level is now broken .. daily needs to close below this level to switch the bias to bearish for the DOW. Favor a drop to the 7850/8000 level.
If this plays out, we could expect the markets to begin selling off and the dollar to gain strength across the board.
  • #19
  • Jun 16, 2009 3:31pm Jun 16, 2009 3:31pm
Today DOW chart .. Close below 8600 and the 200 SMA .. Volume is still lower.. Would have like to see increasing volume on this down move to convince me more that selling off in the markets is going to take place..

Will have to see what tomorrow brings.!
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  • #20
  • Jun 17, 2009 3:55pm Jun 17, 2009 3:55pm
sp500 update .. seems like this is the one to be watching

http://www.forexfactory.com/showpost...stcount=137875
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