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Jacko's Forex House of Pleasure and Pain

  • #9,981
  • Dec 3, 2009 6:38am Dec 3, 2009 6:38am
Quoting garrye
i might have a c/t down to that level watching now im short e/u now
grabed 50 on c/t flat waiting on news
student
  • #9,982
  • Dec 4, 2009 6:49am Dec 4, 2009 6:49am
Quoting melba
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....
just as expected looking like a bit of support around this 14950 level will stay out for now.nice 350 pips banked on this pair for the week.weekend off going to be a nice christmas me thinks
student
  • #9,983
  • Dec 4, 2009 8:02am Dec 4, 2009 8:02am
had an alarm at m/p break,now looking at chart greedy me cant leave this now if it breaks lower gold still falling udx looking like it might hit 75.55 at 75.43 now could be a long on the cards 14850 could be on. fib at 14812
student
  • #9,984
  • Dec 4, 2009 12:40pm Dec 4, 2009 12:40pm
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting jacko
Hi Supermatt

The reason I trade only one pair (EUR/USD) is that all the pairs are basically based against two currencies: either the USD or the YEN
Now I know zero about the YEN.

So that leaves me with just the USD based pairs
Now because most of the action is caused by an impact on the USD more than the other half of the pair (eg AUD, GBP, EURO, etc) all the USD based pairs trade (statistically) in a similar manner over the long term .
For example, all the USD pairs have been going up, not because of the other half of the pair, but because...
Hi Wayne,
Having read your views on trading GBP/USD (too volatile) and AUD/USD (too boring), I just wondered if you have ever considered USD/CHF and if so, what are your thoughts on this pair?
Regards,
Kean
  • #9,985
  • Dec 4, 2009 12:44pm Dec 4, 2009 12:44pm
because the uchf is the e/u but just the mirror image of it lol
  • #9,986
  • Dec 5, 2009 12:35am Dec 5, 2009 12:35am
Am I right to say that daily support line has just been broken at a low of 1.4821 and currently now at 1.4844?(according to my platform)

How many of you guys see this as just a abnormal market activity and think the market would continue on its uptrend with respect to old support when it opens next week?
  • #9,987
  • Dec 5, 2009 5:08am Dec 5, 2009 5:08am
Quoting noobistrader
Am I right to say that daily support line has just been broken at a low of 1.4821 and currently now at 1.4844?(according to my platform)

How many of you guys see this as just a abnormal market activity and think the market would continue on its uptrend with respect to old support when it opens next week?
seeing the same as you mate good price now me thinks for long,but lets see ...let the boys play and take it down for a cheaper price when london opens we make pips
student
  • #9,988
  • Dec 5, 2009 6:03am Dec 5, 2009 6:03am
Quoting noobistrader
Am I right to say that daily support line has just been broken at a low of 1.4821 and currently now at 1.4844?(according to my platform)

How many of you guys see this as just a abnormal market activity and think the market would continue on its uptrend with respect to old support when it opens next week?
Hi,

I agree price closed below the daily trend line however if you have a look at a 300 bar H4 chart...
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-12-05_EU.png Size: 36 KB
  • #9,989
  • Dec 5, 2009 6:21am Dec 5, 2009 6:21am
have a look at weekly and monthly as well..
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #9,990
  • Dec 5, 2009 7:35am Dec 5, 2009 7:35am
Very nice input from you guys garrye,Dan and coscorp. Now,I don't feel that alone with my opinion.Even though, I don't post often,I watch out alot from you regulars

I definitely won't just change my opinion of a strong uptrend from what seems like January 2009 so lightly just because of a slight break of daily support.
(too many people have suffer from that,i am sure many would agree )
The market would have to prove me wrong first then I'll take it like just another day at the office and move on.

Lets hope we would be able to get in on a really long awaited good retracement and ride this baby back up to 1.5150++ when the market opens next week.
  • #9,991
  • Dec 6, 2009 6:05pm Dec 6, 2009 6:05pm
Hi all,

I guess this is aimed to the Turtles but what times of the day are Jacko's most active for the subscribed service? Reasons I ask is I am in Australia & snoozing during the NY & most of London sessions.

Thanks
Learning to be rigid in my rules & flexible in my expectations
  • #9,992
  • Dec 6, 2009 7:08pm Dec 6, 2009 7:08pm
I think Jacko starts his posts at 3am NY time or (London Session) until opening of the NY session. Unless he has trades earlier than that.
  • #9,993
  • Dec 7, 2009 1:12am Dec 7, 2009 1:12am
Jacko post's start 6pm Aust Qld time
  • #9,994
  • Dec 7, 2009 4:02am Dec 7, 2009 4:02am
Quoting kean
Hi Wayne,
Having read your views on trading GBP/USD (too volatile) and AUD/USD (too boring), I just wondered if you have ever considered USD/CHF and if so, what are your thoughts on this pair?
Regards,
Kean
USD/CHF is a benchmark for the USD. If you look at a US$ Index chart, which is an aggregate basket of US$ currencies all put together, you will see that USD/CHF and the $ Index are very similar/close to identical. As such, if you trade Eur/USD, then trading USD/CHF is essentially doubling up - you're making the same bet.
Of course correlation is never 100%, but in this case it's so close that it isn't worth (IMO at least) trading both.
  • #9,995
  • Dec 7, 2009 8:56am Dec 7, 2009 8:56am
Quoting bootsyjam
USD/CHF is a benchmark for the USD. If you look at a US$ Index chart, which is an aggregate basket of US$ currencies all put together, you will see that USD/CHF and the $ Index are very similar/close to identical. As such, if you trade Eur/USD, then trading USD/CHF is essentially doubling up - you're making the same bet.
Of course correlation is never 100%, but in this case it's so close that it isn't worth (IMO at least) trading both.
Nice observation bootsyjam. I might be wrong here but i believe the usd/chf also follows the stockmarket very closely. like the s+p. been awhile since i looked but i believe those charts are identicsl as well.
Whats happening in EUR/USD should be happening to you!
  • #9,996
  • Dec 7, 2009 11:59am Dec 7, 2009 11:59am
Looking at a 300bar long daily chart with last week resistance, i understand now that the trend is broken and is heading south right? (due to the break of the support line, and the up movement bouncing on it just afterward).
So, if we are following jacko's rules, at what price are we supposed to sell?, i don't feel like linking resistance line with 1-2 weeks highest points, it seems to short, and to steep.
Should we use the line i just draw (support line before the break) to sell?
Attached Image (click to enlarge)
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  • #9,997
  • Dec 7, 2009 12:12pm Dec 7, 2009 12:12pm
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting bootsyjam
USD/CHF is a benchmark for the USD. If you look at a US$ Index chart, which is an aggregate basket of US$ currencies all put together, you will see that USD/CHF and the $ Index are very similar/close to identical. As such, if you trade Eur/USD, then trading USD/CHF is essentially doubling up - you're making the same bet.
Of course correlation is never 100%, but in this case it's so close that it isn't worth (IMO at least) trading both.
Thanks Bootsyjam for the explanation, I can now see that the swissy is indeed like a mirror image of the euro. Also, the spread is better on the euro.
Kean
  • #9,998
  • Dec 7, 2009 3:13pm Dec 7, 2009 3:13pm
Quoting Dupont
Looking at a 300bar long daily chart with last week resistance, i understand now that the trend is broken and is heading south right? (due to the break of the support line, and the up movement bouncing on it just afterward).
So, if we are following jacko's rules, at what price are we supposed to sell?, i don't feel like linking resistance line with 1-2 weeks highest points, it seems to short, and to steep.
Should we use the line i just draw (support line before the break) to sell?
I too am looking for an answer here from one of the turtles, though I think they are sworn to secrecy...that being said I wouldn't go short yet I'm still looking long. Hoping for some p/a again around 4800 for another ride up. I know I missed the train earlier to 4882 (guessing that was target)
  • #9,999
  • Dec 7, 2009 3:24pm Dec 7, 2009 3:24pm
http://i50.tinypic.com/24ymryg.png
  • #10,000
  • Dec 7, 2009 9:10pm Dec 7, 2009 9:10pm
Went long at 4800 due to divergence on 4hr and daily in good support area and a tad oversold. also counting on the yoyo effect of the market to take me up for a 100-150 pips. Ill take profit anywhere around 100 pips because monthly charts are poised for a nice pullback and i dont want to be infront of that!

gl
bulls

ps i am/was a turtle but havent been trading since june due to being layed off and closing my trading acct, so am out of the loop on jackos trading and here to get back in the program so to speak. I am sure everyone here knows he IS the master at this and is an excellent teacher on top of it.
Whats happening in EUR/USD should be happening to you!
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