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Jacko's Forex House of Pleasure and Pain

  • #10,341
  • Feb 2, 2010 7:23pm Feb 2, 2010 7:23pm
Some good stuff posted, will need some time to work it all out, too much partying last night.

Anyway, I was more inclined at thinking Jacko took this long because of this.

Just got an email from him and asked him if this Price Action of the daily double bottoms, (within 1 pip of each other) and the BUEOB, had anything to do with his long.
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  • #10,342
  • Feb 3, 2010 2:07am Feb 3, 2010 2:07am
Quoting Rastaman
Some good stuff posted, will need some time to work it all out, too much partying last night.

Anyway, I was more inclined at thinking Jacko took this long because of this.

Just got an email from him and asked him if this Price Action of the daily double bottoms, (within 1 pip of each other) and the BUEOB, had anything to do with his long.


Hi Rastaman,

With respect, what was his answer to this reasonable question.

Regards,

BabeFX.
  • #10,343
  • Feb 3, 2010 2:27am Feb 3, 2010 2:27am
Jacko has not yet replied.
I just got the sms about adding another position.
If and when he does, I will post his comments.
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  • #10,344
  • Feb 3, 2010 2:34am Feb 3, 2010 2:34am
Quoting Rastaman
Jacko has not yet replied.
I just got the sms about adding another position.
If and when he does, I will post his comments.
Rastaman. It is not proper for you to be posting Jackos private blog notes and your emails from him here. If you have a question, you ask him. but you should not post his private comments to you on an open forum. Thats why it it a P R I V A T E blog.
  • #10,345
  • Feb 3, 2010 2:49am Feb 3, 2010 2:49am
Quoting forexmick
Rastaman. It is not proper for you to be posting Jackos private blog notes and your emails from him here. If you have a question, you ask him. but you should not post his private comments to you on an open forum. Thats why it it a P R I V A T E blog.
exactly
  • #10,346
  • Feb 3, 2010 3:04am Feb 3, 2010 3:04am
Quoting Rastaman
Jacko has not yet replied.
I just got the sms about adding another position.
If and when he does, I will post his comments.
Jacko is rather private with regards his members on his blog and the advice he gives people and his trades. People have 'leaked' details in the past to public forums and as you can see from this thread at times there are people waiting to attack and critisise with the unprofessional, stupid comments.

With regards your question, Jacko will obviously reply to you in due course, but he does not use price action in his analysis as far as I'm concerned, its is very much the 50% fib, support, resistance, trendlines and round numbers plus his 'feel' for the market gained from years of experience just trading this one currency pair.

All the best
Mark
  • #10,347
  • Feb 3, 2010 4:22am Feb 3, 2010 4:22am
Quoting lovejoy80
Jacko is rather private with regards his members on his blog and the advice he gives people and his trades. People have 'leaked' details in the past to public forums and as you can see from this thread at times there are people waiting to attack and critisise with the unprofessional, stupid comments.

With regards your question, Jacko will obviously reply to you in due course, but he does not use price action in his analysis as far as I'm concerned, its is very much the 50% fib, support, resistance, trendlines and round numbers plus his 'feel' for...

Ok folks, point taken.

Perhaps, a blog members only forum is necessary inside the blog.
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  • #10,348
  • Feb 3, 2010 4:38am Feb 3, 2010 4:38am
I AGREE.......


Quoting gicho
exactly
  • #10,349
  • Feb 3, 2010 7:10am Feb 3, 2010 7:10am
Quoting Rastaman
Ok folks, point taken.

Perhaps, a blog members only forum is necessary inside the blog.
Sorry Rastaman.

I didn't mean to get you into trouble with the forum Police.

Here is a little snippet that might help make amends for my indiscretion.

EUR/USD strategy: going long for move to 1.42+ (http://www.forexlive.com/81992/all/eurusd-strategy-going-long-for-move-to-1-42)

Written by Sean Lee (http://www.forexlive.com/author/sean-lee/)


There is something going on in EUR world and I’m hoping that we are soon to have a major spike higher. I’ve spoken with banks and hedge funds this morning and I’m hearing the same story; Sovereign buying and particularly the BIS, have been very conspicuous and I hear the bids are as close as 1.3930. I’m not completely confident so I’m starting out with about 40% positioning and I will add if 1.3930 is tested and holds. If the market keeps going up then I will look for good dip levels to add.


Regards,


BabeFX.
  • #10,350
  • Feb 3, 2010 8:31am Feb 3, 2010 8:31am
No problem, it was just something neither of us understood.

I can understand the Turtle viewpoint to some extent.
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  • #10,351
  • Edited 9:18am Feb 3, 2010 8:47am | Edited 9:18am
HI Rastaman.

Just found this a few minutes ago.

Spreads gapping out against Portugal (http://www.forexlive.com/82215/all/spreads-gapping-out-against-portugal)

Written by Jamie Coleman (http://www.forexlive.com/author/jamie/)
February 3, 2010 at 14:03 GMT

The yielded on Portuguese government bonds continues to gap higher today, undermining confidence in the EUR just as ballooning Greek yields did during January.
EUR/USD has fallen to fresh session lows at 1.3940 on the pressure. If the BIS does not turn up in the 1.3930s as they have the 2 prior sessions, EUR/USD could come in for a bashing…

Regards,

BabeFX
  • #10,352
  • Feb 3, 2010 9:29am Feb 3, 2010 9:29am
Another bit of Fundamental analysis that might help you determine your counter trend trades.

European jitters widen; EUR/USD slides (http://www.forexlive.com/82243/all/european-jitters-widen-eurusd-slides)

Written by Jamie Coleman (http://www.forexlive.com/author/jamie/)
February 3, 2010 at 15:18 GMT

BIS bids in the 1.3940s have been worked through and EUR/USD has extended its decline to the 1.3931 level. Chinese bids are rumored at 1.3925.
Spanish and Portuguese credit default swaps are gapping wider as the Greek debt bomb sets the European dominoes in motion.




Regards BabeFX
  • #10,353
  • Feb 3, 2010 8:28pm Feb 3, 2010 8:28pm
Well, I hope other people placed there orders a few pips above the 1.4025 and the PPZ area, as I did. Got up this morning and was pleasantly surprised to see the price flip before my order was filled.
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  • #10,354
  • Feb 3, 2010 8:30pm Feb 3, 2010 8:30pm
BABEFX, thanks for the info but to be honest, I am not a fundamentalist, I really believe more in price action and PPZ than fundamentals.

I also believe that fundamentals are figured into the markets and price action.
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  • #10,355
  • Feb 3, 2010 11:01pm Feb 3, 2010 11:01pm
What a ride! I pyramided three orders long. All three triggered. First 2 orders yielded +54 pips. Third triggered just before the wild ride down and is negative 35. Hasn't hit stop yet, although has been flirting with it most of the day.
  • #10,356
  • Feb 3, 2010 11:09pm Feb 3, 2010 11:09pm
Quoting BabeFX
HI Rastaman.

Just found this a few minutes ago.

Spreads gapping out against Portugal (http://www.forexlive.com/82215/all/spreads-gapping-out-against-portugal)

Written by Jamie Coleman (http://www.forexlive.com/author/jamie/)
February 3, 2010 at 14:03 GMT

The yielded on Portuguese government bonds continues to gap higher today, undermining confidence in the EUR just as ballooning Greek yields did during January.
[color=royalblue]EUR/USD...
I went away from my desk to get a cup of coffee, came back and wham, saw that hugh spike down. I think its good to know why the market does the things it does, although I also agree with Jacko who says we can't trade in antipication of the news. I got caught in this move
  • #10,357
  • Edited Feb 4, 2010 12:37am Feb 3, 2010 11:59pm | Edited Feb 4, 2010 12:37am
I don't think we need fundamentals to understand why this long failed, it is all shown in the price action on H1, with the pin bar right off the PPZ, the 50 & 23.6 fibo confluence combined with the round number of 1.4025 are all signs of considerable resistance. Had they broken, it may have been a good runner.
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  • #10,358
  • Feb 4, 2010 12:38am Feb 4, 2010 12:38am
it failed because it was a counter trend trade its been in a down trend since nov 09 also nfp week only for the brave imho
student
  • #10,359
  • Feb 4, 2010 12:49am Feb 4, 2010 12:49am
I know it was CT, that is why I was not messing around taking any longs before it really broke out.

I am looking at this from the larger weekly perspective and the resistance after the large weekly PB that although the open was outside of the previous bars close, it was a clear runner. We also have what looks to be a pb starting to form in the current candle.
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  • #10,360
  • Edited 2:22am Feb 4, 2010 1:37am | Edited 2:22am
I am going to be waiting for this wave with a lower high retracement and any PA that may or may not present itself.
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