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- camptrader replied Apr 22, 2010
Averaging down — Hi capt, IMHO As usual Jacko is correct, averaging down is a losing game. It is seductive because most of the time it works but it is the one time that it doesn't work that empties out your account. I am sure that if you have ...
- camptrader replied Feb 10, 2010
That is also an excellent option, it just isn't a Jacko style entry. It makes a great add on point if you get a higher entry
- camptrader replied Feb 10, 2010
I think you are right on track, just be sure to have your stop in place because sometimes the daily trendline is pierced on the third touch and it makes it look like the daily trend is reversing, then it heads right back down. I think that is why ...
- camptrader replied Feb 10, 2010
Observation — I see where you are coming from BabeFX and that very well may turn out to be spot on but I have observed that sometimes after the second leg of a move you will see a larger retracement close to the bottom of the consolidation ...
- camptrader replied Feb 8, 2010
Trend — Is anybody else looking to sell around 1.4200? That is the round number closest to my daily trendline. The 50% retracement of this move from 1.5141 to 1.3585 would put the price at 1.4350, We could see that level but I think it is less ...
- camptrader replied Jun 12, 2008
G8 meeting — Good advise as usual Zoopy. I also wanted to be sure everyone was aware of the G8 meeting going on this weekend. The last meeting caused a big gap.
- camptrader replied Jun 4, 2008
Weekly chart — Since I finally figured out how to post a chart, here goes. When I look at the weekly chart, the 1.5200 area or maybe a bit higher, depending on when the trendline is hit, would be the expected low for the continuation of the up ...
- camptrader replied Jun 3, 2008
Ridemade, It seems that the market is hanging around my daily trendline, when it hangs around support (as opposed to bouncing off) there is a good chance it will be broken. That makes me want to look at the weekly chart. I am thinking maybe we will ...
- camptrader replied May 7, 2008
Trader John, Jacko has stated that he uses the 50% retracement level because that is what the other big traders use. Simple as that.
- camptrader replied May 6, 2008
K8, I guess the answer to your question as to why I closed the trade is that, I thought 1.5500 might act as a stronger resistance than it did (FEAR) and since we are still trending down in the short term the moves down can be fast. So I thought 75 ...
- camptrader replied May 5, 2008
Hi Static, thanks for your input but I think you are wizer than I since I made less pips than I risked. Banked 75 pips but risked 100 pips. I only placed a small size trade since I thought it was a higher risk than I would like but in my own defense ...
- camptrader replied May 5, 2008
1.5400 — In post 3649, I had suggested an entry at 1.5400, due to it being an area of prior support and resistance and a big dip. The bounce up has not been as strong as I would have thought so I think it would be prudent to colse the trade ...
- camptrader replied Apr 30, 2008
Vantage, thanks for your input, I know that most successful traders "wait for conformation" and this is probably a wize thing to do, but I have to respectfully disagree, this method does have a bit of "picking the bottom" involved and I think it is ...
- camptrader replied Apr 30, 2008
I also forgot to mention that the 1.5400 area was also support around 3/21
- camptrader replied Apr 30, 2008
What next — Since it is now our mission to decide on the next entry point. Looking at the daily chart I see the first possible area of support as 1.5400 from the second week in march. I try to consider; Trendlines, 50% retrace, Round numbers, ...
- camptrader replied Apr 25, 2008
I posted twice because I thought the first reply did not post
- camptrader replied Apr 25, 2008
ferose, no I do not have any number as to where the EU wants the Euro, but that would be nice! Jacko has not told us he knows of any such number. I think the goal of intervention is to reverse the trend but that is not likely with the current ...
- camptrader replied Apr 25, 2008
Ferose, I have not heard of a particular number, but it certainly would be nice if we could know that. I think the goal of an intervention is to reverse the trend but I don't see that happening just yet. The fundamentals do not yet support a ...
- camptrader replied Apr 24, 2008
I am looking at 50% retracement levels, trend lines, round numbers and former areas of resistance. Since the 4hr chart has fallen below all of these, I am going to the day chart now and I am going to keep an eye on the price action and any clues ...
- camptrader replied Apr 17, 2008
A-H — Hi Cyborg, I would suggest you read this whole Journal and reread the first few posts many times, you will not regret it. The trend at the current time is up, look at weekly, daily and 4hr charts to confirm. When the trend is up, the ...