Easier said than done — I guess when we try to think trouugh to justify an entry we can find as many justifications to take the trade as we can reasons not to take the trade. Hence the rule: Leave your brain at the door. The recent gap down ...

Jacko's Forex House of Pleasure and Pain

1.5700 — Hi Trader John, 1.5700 looks like a tempting entry but that would mean that we are making lower lows and lower highs on the 4hr chart (trending down on the 4hr chart). That might be another clue that Elephants are in the area. This ...

Jacko's Forex House of Pleasure and Pain

Group closed for now — Sorry Goodness, please see post #1650, the group is closed at this point. I was one of the lucky ones to have been around when the initial offer was made. Jacko stated; "I am purposely trying to keep the groups very ...

Jacko's Forex House of Pleasure and Pain

must go 50 pips — Hi Trader KGB, I hope you do not mind me answering this Jacko and please correct me if I am wrong. Once you are stopped out, you have to wait for the Fiber to go at least 50 pips lower than your stop to set the AH trade. In ...

Jacko's Forex House of Pleasure and Pain

Lets get back on track — Hi Jacko, To bring our focus back to your method. After looking at the charts I come up with 1.3550 as the next likely long entry since it is the 50% retracement of the move from 1.3359 on 8/16 to 1.3718 on 8/31. (It ...

Jacko's Forex House of Pleasure and Pain

Thanks — Ok Thanks Tom, Camptrader

james16 Chart Thread

DBHHC — I was wondering if anyone can help out with a question I have. When I look at MT4, I see a DBHHC on the EUR/JPY, high on Thurs 159.09 and high on Fri 159.10. When I look at my chart on dealbook 360 from GFT, the high on Fri is 159.24 ...

james16 Chart Thread

Next entry — Hi Jacko, I was wondering if I would be correct in thinking that the 1.3600 area is the next likely area of support? It is the 50% retracement of the move from 1.3851 on 7/24 to 1.3359 on 8/16. It is also a round number (and the ...

Jacko's Forex House of Pleasure and Pain

Thanks — Thanks 59fener, it makes sense that until we are moving with the trend we could be in for a little turbulence especially at an important number as 1.3500. 1.3650 will also likely be an area where we hit resistance and pause again.

Jacko's Forex House of Pleasure and Pain

60 pip retrace — Jacko does the fact that we had a 59 pip retrace 1.3546 to 1.3483 hold any significance in your trading style since the trailing stop is 50 pips?

Jacko's Forex House of Pleasure and Pain

Thanks Joli — Thanks Joli

Jacko's Forex House of Pleasure and Pain

50% retrace — Hi Jacko, Thanks for helping us learn your system. I was hoping you could help me clarify one area that I am a bit confused about concerning the 50% retracement level that you use. When you look at a Daily chart do you look at ...

Jacko's Forex House of Pleasure and Pain

I think Drain Bamage is correct, I also get 1.3550 as the next likely area of support. I get that because the 50% fib of the move from 6/13/07 to 7/24/07 is 1.3557, it was also a resistance area from 6/5/07. 1.3550 should also put us close to the ...

Jacko's Forex House of Pleasure and Pain

correction — One small correction to my previous post, the 50% fib level at 1.3760 was actually based on the move from 1.3682 on 8/3/07 to 1.3838 today, best seen on a 4hr chart and not the move from 1.3608 to 1.3838. sorry for any confusion

Jacko's Forex House of Pleasure and Pain