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Jacko's Forex House of Pleasure and Pain

  • #9,281
  • Sep 9, 2009 3:46am Sep 9, 2009 3:46am
Fair enough, but the resistance trendline turned support has not been confirmed yet. It would have to be retested.



Quoting madpommie
Hi LasVahGoose

This is what Wayne teaches....

If you join the highs to get the upper trend line on the 300 period 4H Chart.

1.4446 on 5th August
1.4406 on 27th August

then the upper trend line was broken yesterday at about 1.4380, my chart says 1.4387.

As resistance becomes support this is now support with a 75% probability of holding and 25% chance of not. The probabilities I have learnt from Wayne and he is all about playing the high probability trades which is what gives him / us the great results.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #9,282
  • Sep 9, 2009 3:51am Sep 9, 2009 3:51am
Totally agree but we are looking to trade the highest probability. Whilst this is the highest probability Wayne more often than not watches prices as it approaches his entry rather than just blindly placing an order.

Quoting LasVahGoose
Fair enough, but the resistance trendline turned support has not been confirmed yet. It would have to be retested.
Each loss is one step closer to a winner!!! Cheers, Dave
  • #9,283
  • Sep 9, 2009 4:35am Sep 9, 2009 4:35am
i hope to see a retest and we all go LONG !!!!
Trading Forever !!!
  • #9,284
  • Sep 9, 2009 4:38am Sep 9, 2009 4:38am
Have a look at the "old"support line 1.3830 8 July and 1.4006 29 July. It became resistance now adding to support at 1.4380 area.
Dance with the market .. I have two left feet
  • #9,285
  • Sep 9, 2009 4:56am Sep 9, 2009 4:56am
Quoting narberth
Have a look at the "old"support line 1.3830 8 July and 1.4006 29 July. It became resistance now adding to support at 1.4380 area.
hello narberth, i don't get it... mind to please explain a bit more ?
Trading Forever !!!
  • #9,286
  • Sep 9, 2009 5:12am Sep 9, 2009 5:12am
See chart the line was unbroken support until 12/13 Aug and since then price has moved around the line. On its own not a clincher but it also arrives at 1.4380 ish that appears to be a significant level that price will return to price action at that level will be worth watching
Attached File(s)
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Dance with the market .. I have two left feet
  • #9,287
  • Sep 9, 2009 10:34am Sep 9, 2009 10:34am
thank you Narberth
Trading Forever !!!
  • #9,288
  • Sep 9, 2009 6:52pm Sep 9, 2009 6:52pm
Quoting narberth
See chart the line was unbroken support until 12/13 Aug and since then price has moved around the line. On its own not a clincher but it also arrives at 1.4380 ish that appears to be a significant level that price will return to price action at that level will be worth watching
So let me see if I understand this correctly, from your post and several others in the past 24 hr or so.

Since the E/U has broken thru the upper trend line (8/3-8/27) @ 1.4380 there is a 75% chance that it will bounce and continue higher. (Next entry Point)

The old support line (7/8-7/29) has had price action around it for the past 20-30 days and since it intercepts with the old resistance line (8/3-8/27) at around 1.4380. That reinforces a bounce at 1.4380?


Do most all breakouts carry the 75/25 probability?
  • #9,289
  • Sep 9, 2009 7:01pm Sep 9, 2009 7:01pm
Hi folks, not here to distract the discussion...im new to the forum and id like to hear from people who have/are trading with Jacko in his program. Im just looking to hear from those already in and how they see it as a good foundation to trading.

Just experiences, thoughts, comments, anything in general. How do you guys like his program?

Any possibility of being pm´d please? I cant do it yet, hence the post.

Thanks again Keep the good thread going.
  • #9,290
  • Sep 9, 2009 7:39pm Sep 9, 2009 7:39pm
I've been a member of Jacko's service for a month now and couldn't be happier. This thread is actually a good foundation of the trading method. Really everything you need is already in here. However, watching a successful trader trade this method is well worth the price of admission.

Quoting Pipalicious
Hi folks, not here to distract the discussion...im new to the forum and id like to hear from people who have/are trading with Jacko in his program. Im just looking to hear from those already in and how they see it as a good foundation to trading.

Just experiences, thoughts, comments, anything in general. How do you guys like his program?

Any possibility of being pm´d please? I cant do it yet, hence the post.

Thanks again Keep the good thread going.
  • #9,291
  • Sep 9, 2009 10:23pm Sep 9, 2009 10:23pm
One problem with Jacko, he go,s to a lot of shopping with his wife!
  • #9,292
  • Sep 9, 2009 11:17pm Sep 9, 2009 11:17pm
Quoting Auspip
One problem with Jacko, he go,s to a lot of shopping with his wife!
You got to keep momma happy

And as a fellow turtle, I've gained a lot of valuable insight.


Spike
Will, Knowledge, Discipline, And tenacity=Success
  • #9,293
  • Sep 10, 2009 1:02am Sep 10, 2009 1:02am
wakaka !

As a newbie turtle here, im really honored to be his follower ! he told me that most of his students can be independent in less than 12months of his mentoring process !

im on my way now LOL !
Trading Forever !!!
  • #9,294
  • Sep 10, 2009 2:03am Sep 10, 2009 2:03am
Quoting truckjrt
So let me see if I understand this correctly, from your post and several others in the past 24 hr or so.

Since the E/U has broken thru the upper trend line (8/3-8/27) @ 1.4380 there is a 75% chance that it will bounce and continue higher. (Next entry Point)

The old support line (7/8-7/29) has had price action around it for the past 20-30 days and since it intercepts with the old resistance line (8/3-8/27) at around 1.4380. That reinforces a bounce at 1.4380?


Do most all breakouts carry the 75/25 probability?
The 75/25 probability is not my number so I would not comment on that. My point was that there are several pointers to the 1.4380 area as a significant area at the moment but the best trade at the moment is the hardest one - wait
Dance with the market .. I have two left feet
  • #9,295
  • Sep 10, 2009 2:49am Sep 10, 2009 2:49am
Quoting Auspip
One problem with Jacko, he go,s to a lot of shopping with his wife!
Theres a reason for that....

During last months NFP release I wanted to trade. Jacko was out with Mrs J so I read the blog and could see clear as day what he would do if he wasn't out.

I put my trade on with a knowing smile and lost 100 pips.

Now what was that rule about staying out during volatile news events??
Each loss is one step closer to a winner!!! Cheers, Dave
  • #9,296
  • Sep 10, 2009 2:55am Sep 10, 2009 2:55am
Quoting truckjrt
So let me see if I understand this correctly, from your post and several others in the past 24 hr or so.

Since the E/U has broken thru the upper trend line (8/3-8/27) @ 1.4380 there is a 75% chance that it will bounce and continue higher. (Next entry Point)

The old support line (7/8-7/29) has had price action around it for the past 20-30 days and since it intercepts with the old resistance line (8/3-8/27) at around 1.4380. That reinforces a bounce at 1.4380?


Do most all breakouts carry the 75/25 probability?
I think coming back to the line for a retest is 50/50. Once back for the retest the line has a 75% chance of holding.

The 50% fib is around 1.4400, just above 1.4380 so this will be a very strong area IMHO

Either way we are looking for a significant pullback before going long.
Each loss is one step closer to a winner!!! Cheers, Dave
  • #9,297
  • Sep 10, 2009 2:57am Sep 10, 2009 2:57am
We have a low at 1.4190 say 1.42 and a high at 1.4599 say 1.46 so the 50% fib is 1.44

Watch for that level
Dance with the market .. I have two left feet
  • #9,298
  • Sep 10, 2009 3:17am Sep 10, 2009 3:17am
Quoting madpommie
I think coming back to the line for a retest is 50/50. Once back for the retest the line has a 75% chance of holding.

The 50% fib is around 1.4400, just above 1.4380 so this will be a very strong area IMHO

Either way we are looking for a significant pullback before going long.
We crossed in the post
Dance with the market .. I have two left feet
  • #9,299
  • Sep 10, 2009 4:22am Sep 10, 2009 4:22am
LOL But good that we are both thinking the same thing ... Now lets see what Jacko does......

Quoting narberth
We crossed in the post
Each loss is one step closer to a winner!!! Cheers, Dave
  • #9,300
  • Sep 10, 2009 6:04am Sep 10, 2009 6:04am
@madpommie and @narberth

Thank you both for helping me understand, I have some basic knowledge but now I need see it used practically and successfully.

So now we wait.
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