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Jacko's Forex House of Pleasure and Pain

  • #9,961
  • Dec 1, 2009 7:59am Dec 1, 2009 7:59am
barrypips was kind enough to summarise into a pdf quite some time ago... you might find it useful to download and go through this.

http://www.forexfactory.com/attachment.php?attachmentid=245334&d=May%2012,%202009%205:09am

i think this is the latest version...certainly contains the key elements of this system IMO
  • #9,962
  • Dec 1, 2009 8:26am Dec 1, 2009 8:26am
Quoting bluehorizon
barrypips was kind enough to summarise into a pdf quite some time ago... you might find it useful to download and go through this.

http://www.forexfactory.com/attachment.php?attachmentid=245334&d=May%2012,%202009%205:09am

i think this is the latest version...certainly contains the key elements of this system IMO


THANKS bluehorizon i will look into it



best regards
  • #9,963
  • Dec 1, 2009 8:31am Dec 1, 2009 8:31am
Quoting jgadefelth
no i have not i have read the first 4 pages and i had hoped i should uhnderstand it after i had read what jacko whrote in the first posts.

does he describe it more later with pictures and so on later in the thread ?


best regards
u dont need to understand it,you got to trade it,without excuses
student
  • #9,964
  • Edited 11:49am Dec 1, 2009 9:52am | Edited 11:49am
for heavens' sakes how can one trade something he/she doesn't fully understand?!?

Let's be realistic here shall we, and try to help where we can.

Ok to see what help I can give I have an EU chart on the Daily

http://screencast.com/t/OTM5YzI1OTMt

All this my opinion solely and NOT trading recommendations.

The red lines are what I like to define the long term Trend Lines that give us the channel that price is ranging in - basically the price bounces from the Lower TL to the Upper TL until the market decides it is time to do something different. However we also have a shorter term Trend Line (gold) from which price reacted quite a few times thus IT would be valid over and above the longer term TL until a break occurs. It should always be kept in mind however as price can again react to it in the future. Now - there are those that want to see a close (the stronger ie further away - the better) below or above a trend Line to fully invalidate it. As one can see the gold line (on MY feed) only had a close below it on the 21st and 22 of November but not far away from it so it held up it's strength so to speak. Before I would only need to see a situation like on 03 Nov or 27 Nov and that TL would be history - however I've come to the conclusion that it's a hasty disposal of what may still prove to be valid support/resistance off which price may react.

Finally - one can see the Trend is Long - and that price reacted to the longer term Lower Trend Line at an area of horizontal support and resistance (again where price reacted in the past) which is the blue line. In j16 this would be called confluence - and the more the merrier (stronger).

EDIT. For those that follow J16 - that was also a nice looking pinbar in my book (pity I was away and couldn't get in - a picture perfect buy signal if I ever saw one)

Jacko regards these has having less strength than Trend Lines whereas others only use them to decide where to buy sell.

I will leave fibos and their explanation to someone else.

Cheers
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #9,965
  • Dec 1, 2009 10:15am Dec 1, 2009 10:15am
Quoting coscorp
for heavens' sakes how can one trade something he/she doesn't fully understand?!?

Let's be realistic here shall we, and try to help where we can.
we shall,lets be realistic,i want nothing more on this thread.than too be real in trading and in context,
student
  • #9,966
  • Dec 1, 2009 10:24am Dec 1, 2009 10:24am
this thread is also here to help others....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #9,967
  • Dec 1, 2009 12:32pm Dec 1, 2009 12:32pm
Quoting jgadefelth
no i have not i have read the first 4 pages and i had hoped i should uhnderstand it after i had read what jacko whrote in the first posts.

does he describe it more later with pictures and so on later in the thread ?


best regards
Quick guides are great for understanding the stratagy but i think you would benefit from reading the whole thread, as there are lots of charts and examples along the way to help it all sink in.
All the best and good trading
  • #9,968
  • Dec 1, 2009 6:16pm Dec 1, 2009 6:16pm
Just posting this up here for fun.

Weekly chart with trade. How does it look Jacko!?
Attached Image (click to enlarge)
Click to Enlarge Name: jacko1.gif Size: 18 KB
  • #9,969
  • Dec 2, 2009 7:39am Dec 2, 2009 7:39am
Quoting drumdude
Just posting this up here for fun.

Weekly chart with trade. How does it look Jacko!?
Hi drumdude,

What did you base your trade on?

Regards,

Dan
  • #9,970
  • Dec 2, 2009 8:41am Dec 2, 2009 8:41am
  •  melba
  • | Joined Nov 2009 | Status: ...just surfing the wave... | 97 Posts
hi all , i have just read this thread + jacko's previous one at daily fx , really interesting ..and fun ! many thanks to all , my trading seems to be already improving ..! i don't know what to do on these levels ? either buying above 5110 if h1 res broken , or waiting for pullback at 5050 or 1.50..?...wait and see..
  • #9,971
  • Dec 2, 2009 8:55am Dec 2, 2009 8:55am
Quoting melba
hi all , i have just read this thread + jacko's previous one at daily fx , really interesting ..and fun ! many thanks to all , my trading seems to be already improving ..! i don't know what to do on these levels ? either buying above 5110 if h1 res broken , or waiting for pullback at 5050 or 1.50..?...wait and see..

it seems the safer thing to do is wait for a pullback..and my charts show its around 1.4850
  • #9,972
  • Dec 2, 2009 9:03am Dec 2, 2009 9:03am
  •  melba
  • | Joined Nov 2009 | Status: ...just surfing the wave... | 97 Posts
Quoting bboyomega83
it seems the safer thing to do is wait for a pullback..and my charts show its around 1.4850
thanks bboyomega ....i'll jump in with both foot if we get there !!
  • #9,973
  • Dec 2, 2009 9:33am Dec 2, 2009 9:33am
im not giving a recommendation I am just stating what i see and what i feel to be the safest move .. up to you to make your own decision

Quoting melba
thanks bboyomega ....i'll jump in with both foot if we get there !!
  • #9,974
  • Dec 2, 2009 12:28pm Dec 2, 2009 12:28pm
Quoting bboyomega83
it seems the safer thing to do is wait for a pullback..and my charts show its around 1.4850
I am also looking for a pull back to 1.4850 to go long but i am short at 1.5080 to ride it down to that suppport area
  • #9,975
  • Dec 2, 2009 11:48pm Dec 2, 2009 11:48pm
Quoting garrye
closed my long from 14850 seems to be stalling here at 15050.nice 200 pips to start the week,middle eastern markets should tumble when they open. will they buy dollars or gold.im waiting for europe london to show what to do
from this post price started to move in a range and gold price started to go up eu could not break 14950.so was long at 15000 my trade was s/out at 15100 at the time it was looking at going higher.best to take what you can in this market.golds been making new highs i use gold price as a guide to dollar s/w yet euro did nothing but stay in a small range.so melba my feelings are 14850 is not looking to be support 14950 is more likely im flat now looking for it to test 15000 to make a trade long/short
student
  • #9,976
  • Dec 3, 2009 1:41am Dec 3, 2009 1:41am
my money is on the 1.5000 area as well....nice psycho level and a lot of confluence albeit it isn't with the longer term TL which is sitting at the 1.4900 area now around the area of my 61.8 fib.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #9,977
  • Edited 2:34am Dec 3, 2009 2:10am | Edited 2:34am
i might have a c/t down to that level watching now im short e/u now
student
  • #9,978
  • Dec 3, 2009 2:13am Dec 3, 2009 2:13am
  •  melba
  • | Joined Nov 2009 | Status: ...just surfing the wave... | 97 Posts
thks Garrie , i also have the feeling that we might have moved out of the flat range 1.48 /1.50 , trying to move up anyway, and pursue the trend , so 1.4975/1.50 will be my entry point as well ..... just hoping for pullback....
  • #9,979
  • Dec 3, 2009 2:41am Dec 3, 2009 2:41am
Quoting DanUK
Hi drumdude,

What did you base your trade on?

Regards,

Dan
It was based on trend line....and fib.

looked long
  • #9,980
  • Dec 3, 2009 2:47am Dec 3, 2009 2:47am
Quoting drumdude
It was based on trend line....and fib.

looked long
I think Dan meant the entry point.
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