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JohnFX's Price Magnets

  • #161
  • Jan 19, 2006 12:48pm Jan 19, 2006 12:48pm
Quoting slawek
Hello John i am new to this forum
your target on EUR 1.2118 is a retracement of the upmove from18.jan. (High 1.2159) 61,8%.
Are you trading fibonacci retracements?

Good Job

slawek
No, that is just a coincidense. My method for picking the targets is proprietary. I do sometimes use Fibs. for entry purposes. But, my method for locating the targets really has nothing to do the traditional indicators or techniques.

Thanks;

JohnFX
  • #162
  • Jan 19, 2006 1:00pm Jan 19, 2006 1:00pm
I set my limit at 115.57, just looked at my charts and had to laugh, 115.56! Maybe it will have another go at 115.60.....

MrsM
  • #163
  • Jan 19, 2006 1:01pm Jan 19, 2006 1:01pm
Quoting JohnFX
The fact that USDJPY hasn't gone much below 115.00 despite the pretty good upmove of EURUSD to my 1.2118 target is encouraging that the USDJPY should reach the 115.60 target sometime today, hopefully.

Thanks;

JohnFX
Well I got 115.59 for a high on IBFX so I'll say target reached at 13:57 PM EST 1/19/06. I have found that many times price will come within 1 or 2 pips of my targets on the first sometimes second try. It usually eventually keeps trying until it hits it and many times goes beyond it. So, it may still move further back up from here. I usually set my T/P a few pips before my target so I can take profit on the 1st attempt at the target.

Ok, it's now 15:59 PM EST and USDJPY is at:115.45.
There are price magnets at: 115.30, 115.20 and 115.08 (to the downside).
Remember it may still head back up and make another stab at 115.60

Thanks;

JohnFX
  • #164
  • Jan 19, 2006 2:15pm Jan 19, 2006 2:15pm
Thanks, John, you are a star!

Any chance of the bloomin' Euro getting a shift on up?!

Cheerio, MrsM
  • #165
  • Jan 19, 2006 5:43pm Jan 19, 2006 5:43pm
Hi John,
Can you give me analysis today?

Thanks & Regards, Core
  • #166
  • Jan 19, 2006 6:58pm Jan 19, 2006 6:58pm
Quoting MrsMacTheKnife
I set my limit at 115.57, just looked at my charts and had to laugh, 115.56! Maybe it will have another go at 115.60.....

MrsM
Yes, It finally broke the 115.60 at 19:30 EST 1/19/06

JohnFX
  • #167
  • Jan 19, 2006 7:01pm Jan 19, 2006 7:01pm
Quoting MrsMacTheKnife
Thanks, John, you are a star!

Any chance of the bloomin' Euro getting a shift on up?!

Cheerio, MrsM
There is a price magnet at 1.2098 for eurusd.

It's 10:00 PM EST and is presently around 1.2085 so may want to wait for a better entry.

JohnFX
  • #168
  • Jan 19, 2006 7:35pm Jan 19, 2006 7:35pm
I just want to point out that my price targets don't generally correspond to the prices that the "crowd" talks about, like pivots, S/R, etc. If one of my calls happens to be close or at one of those prices, it is strictly coincidental. My method is unique. But, it's still not perfect.

Thanks;
JohnFX
  • #169
  • Jan 20, 2006 4:02am Jan 20, 2006 4:02am
Quoting JohnFX
Ok, it's now 15:59 PM EST and USDJPY is at:115.45.
There are price magnets at: 115.30, 115.20 and 115.08 (to the downside).
Remember it may still head back up and make another stab at 115.60

Thanks;

JohnFX
115.30 and 115.20 were hit! 115.15 lowest for now!

Made another 10 demo points
  • #170
  • Jan 20, 2006 9:52am Jan 20, 2006 9:52am
Quoting JohnFX
There is a price magnet at 1.2098 for eurusd.

It's 10:00 PM EST and is presently around 1.2085 so may want to wait for a better entry.

JohnFX
1.2098 was hit and surpassed around 9:00 AM EST 1/20/06, but if first went down to around the 2040 area during London.


JohnFX
  • #171
  • Jan 20, 2006 9:54am Jan 20, 2006 9:54am
Quoting JohnFX
Well I got 115.59 for a high on IBFX so I'll say target reached at 13:57 PM EST 1/19/06. I have found that many times price will come within 1 or 2 pips of my targets on the first sometimes second try. It usually eventually keeps trying until it hits it and many times goes beyond it. So, it may still move further back up from here. I usually set my T/P a few pips before my target so I can take profit on the 1st attempt at the target.

Ok, it's now 15:59 PM EST and USDJPY is at:115.45.
There are price magnets at: 115.30, 115.20 and 115.08 (to the downside).
Remember it may still head back up and make another stab at 115.60

Thanks;

JohnFX
All three targets for USDJPY were hit during London and USA sessions on 1/20/06.

JohnFX
  • #172
  • Jan 20, 2006 10:18am Jan 20, 2006 10:18am
Quoting JohnFX
1.2098 was hit and surpassed around 9:00 AM EST 1/20/06, but if first went down to around the 2040 area during London.


JohnFX
Rather amazing thing is the 1.2098 magnet got re-created today at 10:23 AM EST, but unfortunatly I had to attend a funeral this moring so I wasn't able to post it. Price went down to 1.2068 then went back up and hit and broke the 1.2098 target at 10:59 AM. That would have been a quick trade. 20-30 pips depending on entry point.

JohnFX
  • #173
  • Jan 22, 2006 5:35pm Jan 22, 2006 5:35pm
1/22/06 8:35 PM EST

USDJPY presently at 114.82

A prices magnet is at 115.15

JohnFX
  • #174
  • Jan 22, 2006 10:31pm Jan 22, 2006 10:31pm
Quoting JohnFX
1/22/06 8:35 PM EST

USDJPY presently at 114.82

A prices magnet is at 115.15

JohnFX

John, I was wondering: can you give an indication of how much of your Magnets system is Mechanics (formula's, cross-overs, etc.) and how much is Discretion?

Just curious... :
  • #175
  • Jan 23, 2006 12:01am Jan 23, 2006 12:01am
Quoting JohnFX
1/22/06 8:35 PM EST

USDJPY presently at 114.82

A prices magnet is at 115.15

JohnFX
Interestingly enough the monthly S1 pivot is at 115.15 as well... Better be careful, as prices have a tendency to be either attracted or repelled by pivot lines (just like magnets attract or repel magnets, depending on polarity!... ) and thus either overshoot them or turn shortly before them...
  • #176
  • Jan 23, 2006 6:02am Jan 23, 2006 6:02am
Quoting CescoAiel
John, I was wondering: can you give an indication of how much of your Magnets system is Mechanics (formula's, cross-overs, etc.) and how much is Discretion?

Just curious... :
The method for locating the price magnets is mechanical. As far as which ones to put a trade on, the entry and the stop (still working on that), that's still discretionary at this point. Thanks for the question.

JohnFX
  • #177
  • Jan 23, 2006 6:03am Jan 23, 2006 6:03am
Quoting JohnFX
1/22/06 8:35 PM EST

USDJPY presently at 114.82

A price magnet is at 115.15

JohnFX
Obviously with a resonable stop (not very large one), this trade would be stopped out.

JohnFX
  • #178
  • Jan 23, 2006 6:11am Jan 23, 2006 6:11am
Is it still possible that the JPY will 'try' to hit the target? Each time it has missed a target, the market has gone back for another try....

Just a thought and OF COURSE I put a reasonable stop in....

Cheerio, Jacquie
  • #179
  • Jan 23, 2006 6:55am Jan 23, 2006 6:55am
Quoting MrsMacTheKnife
Is it still possible that the JPY will 'try' to hit the target? Each time it has missed a target, the market has gone back for another try....

Just a thought and OF COURSE I put a reasonable stop in....

Cheerio, Jacquie
Oh yes the target can still get hit in the next 12-48 hours or so.

JohnFX
  • #180
  • Jan 23, 2006 7:01am Jan 23, 2006 7:01am
1/23/06 10:00 AM EST

USDJPY presently at 114.44

A new price magnet is at 114.70

JohnFX
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