I too am looking to get back in at 1.5650. Reasons are: - a round number - trendline vicinity - previously strong s&r levels - 50% fib See the chart. Oh, and if we don't get to the 5650 level, then I'm looking to buy at 1.5800, after/if the price ...

Jacko's Forex House of Pleasure and Pain

I'm a buyer at 1.5500 with a 100 pip TSL. A very round number and there was some support/resistance action going on around these levels. Although we don't use profit targets, I will close my position instantly, if my 100 pip profit target is hit. ...

Jacko's Forex House of Pleasure and Pain

Hi Sean! Thanks for your honesty and I agree with everything you said.

Jacko's Forex House of Pleasure and Pain

Hi! Yup, that's true, but I've seen Jacko (at DailyFX) buying at .xx25 also. I guess, in the end, it all comes down to experience, combined with other tools that Jacko uses. Here is a 4h chart attached. Again, the 50% fib worked very nicely and the ...

Jacko's Forex House of Pleasure and Pain

I guess it is hard for many to wait for dips, because such price action, as we are witnessing now, is very rare. Just look at the weekly charts. But, sooner or later, the "normal" patterns should return.

Jacko's Forex House of Pleasure and Pain

Since I'm a forex newbie too, I was also tempted to look at smaller time frames. And I did, until I came to realize, it has no real meaning for me. I was only getting nervous when watching those small spikes and I always closed my trades ...

Jacko's Forex House of Pleasure and Pain

Too bad I didn't have the guts... LOL

Jacko's Forex House of Pleasure and Pain

Hi Bakuli, and amen to that.

Jacko's Forex House of Pleasure and Pain

Hi! Just went through the daily charts and I looked for all previous major tops, before they reversed. Interesting enough, two of them reversed before reaching a "target" number. 16.02.2004: did not make it to 1.3000 17.6.2003: did not make it to ...

Jacko's Forex House of Pleasure and Pain

6 candles, to be exact. As far as I understand CS, this usually goes up to 8 or 9 candles, before stopping.

Jacko's Forex House of Pleasure and Pain

It seems that Bernake's speeches are the most powerful force in the land of Forex. He speaks again tomorrow. If I had guts, I'd go LONG now and wait for that 1.5900 to happen. I'm saying this only half jokingly...

Jacko's Forex House of Pleasure and Pain

Yup, I agree. I'll do a short-term trade @ the 1.5650 level. 50 pip TSL and a 50 pip target (even if the analysis of my previous trades suggest I should NOT close my trades manually, but let the TSL finish the job). That's my current plan. We have ...

Jacko's Forex House of Pleasure and Pain

News — Eurozone's Juncker says to discuss exchange rates with Bush

Jacko's Forex House of Pleasure and Pain

Hi gagiul, keep posting your trades - those provide some nice thinking stuff for someone like me, who tends to be more conservative and waiting for bigger dips. It seems like these .xx50 and .xx00 numbers work really well. This is what zoopy is ...

Jacko's Forex House of Pleasure and Pain

I too would normally look at the 1.5600 level, but... I like a bargain. It the meantime, I've put a buy limit at 1.5570.

Jacko's Forex House of Pleasure and Pain

Congratulations! I'm on the sidelines for now, but I'm looking to go long again @ 1.5550... But the truth is, I'm not quite comfortable at the moment... Are we again in a trading range? Are we going to see another channel breakout? Or are we going ...

Jacko's Forex House of Pleasure and Pain

Very nice analysis, thanks.

zoopy's trading journal

Yeah, I too am wondering what awaits us now. Bearish new from US and bearish news from EU. I guess I'll be switching to trading Magic The Gathering collectible cards instead... That's a joke. I'm off to bed.

Jacko's Forex House of Pleasure and Pain

My trend line is at 1.5550 on the 4h chart.

Jacko's Forex House of Pleasure and Pain

If the 4h trendline breaks heavily, I believe we could go down do 1.5250 in the medium term. My reasoning is based on one of my previous posts. (breaking of a trendline) Plus, 1.5250 was acting as a resistance level at first and then became a ...

Jacko's Forex House of Pleasure and Pain