Yeah I was thinking the same thing. If we make it that high that would be right near the 50% retrace of the weekly BEOB (at 1.5785). If I had to bet 5 dollars, I would say we won't see 1.5800 soon. Good trading, keep up the good analysis!!

zoopy's trading journal

(This is a strange thing answering on behalf of someone else but I will attempt to shed some light on this) When Jacko says he doesn't trade the news it doesn't mean he won't trade during a news release, it means he won't trade because of a news ...

Jacko's Forex House of Pleasure and Pain

Great work Zoopy. I think this is a great way to look at the trend, it's sometimes hard to know exactly what marketconditionsyou're looking for when looking for an entry. This approach gives a very easily defined way to establish when the trend has ...

zoopy's trading journal

Hey Khornate, I would love to see a couple hundred pips shaved off the Euro. I would feel much more comfortable buying at around 1.5400. That being said, it seems like the correction should be longer. Maybe long enough to take us to 1.5150?? I get ...

Static's Place

Any PA traders willing to jump on this pin bar?? It is on historical support. Personally I would have to see at least 4HR pin before I would even consider taking a trade at this level. In addition, since Friday's low was just taken out, I am ...

Static's Place

Yeah, watching paint dry is definitely less stressful than it used to be. I now take great pleasure in picking areas that I would have traded say a year or two ago, waiting and watching the price action, and seeing a losing trade that I had the good ...

Static's Place

So what am I seeing? — Well. We have seen quite a drop. For what it's worth, in my opinion this is not the end of the correction. Price action on the four hour suggests to me we will see a further drop. There is a 4HR Bearish outside bar. ...

Static's Place

oops... — Haha, That should say "gains"... not games...

Static's Place

I remember an older thread where someone was asking Jacko about some sort of hedging strategy which involved using interest swap as a source of profit. Jacko said something to the effect of. "This is way too complicated for me" "Why bother worrying ...

Jacko's Forex House of Pleasure and Pain

The drop — Well, Looks like the ECB have succeeded in inducing a substantial selloff in the EURO. The bull market is definitely not over, but we will probably see a substantial correction judging from the ferociousness of the drop. I think ...

Static's Place

Trades Taken: 13 Winners: 5 Losers: 8 P/L: +95 Thoughts: getting a little downhearted as I have been watching my earnings over the past month evaporate. However, on the the next trade, can't dwell on past trades... just learn from them.

Static's Place

Well... — Took it on the chin on that trade. Trade # 13 closed at 1.5900 for a loss of 90 pips. Sometimes it's tempting to just leave certain trades off of the journal, but I think posting every trade has really helped to put things in ...

Static's Place

Emotional Update — Thoughts: I am still happy with my entry at 1.5985. I thought about waiting for retrace to 1.5950 (50% retrace of the 4HR outside bar) but decided that the risk of 35 more pips for a potential breakout was worth it. As ...

Static's Place

Breakout? — For what it's worth there is price action continuation pattern on the 4HR. That 4HR BUOB (Bullish outside bar) was exactly what preceded the last break of 1.5000. Not that I think that the coincidence means anything, but, to me it ...

Jacko's Forex House of Pleasure and Pain

OK.... — Here's my approach for the week. I am anticipating a strong break of 1.6000. So... I have bought at 1.5985 with a 100 pip TSL. Trade #13 buy at 1.5985 with a 100 pip TSL already exectuted. (I just do this red text thing so I can keep ...

Static's Place

Udpdate — Trade # 12 -- Stopped out for +46 pips. I had this improperly labeled trade #11 a couple posts ago... oops. Trades Taken: 12 Winners: 5 Losers: 7 P/L: +185 Thoughts: Was taken out by that annoying/unusually large 4HR spike. I am out ...

Static's Place

Wahawk, I usually try to limit myself to two a week. But, it depends on what timeframe you're trading. I'm trading off of 4HR and daily, and for me any more than two a week is over-trading. Ideally one good one per week would be more than enough to ...

Jacko's Forex House of Pleasure and Pain

Steve, It really depends on what time-frame you are using. If, for example you're using daily charts it wouldn't matter much, but if you're scalping the significance of the spread increases because it represents a higher percentage of your stoploss. ...

Position Sizing

Update — Trade #12 seems to be doing very well as the market is now at 1.5922. As I will be trailing this one pip by pip. My TSL has been adjusted to 1.5846 (+46) Wow, the market sure did not buy that sharp retrace. It appears a big seller ...

Static's Place

Confused — How could the absence of a trailing stop cause you to be stopped out earlier than if one was available? I don't understand. The only thing not using a TSL could do is keep you in a trade longer...

Jacko's Forex House of Pleasure and Pain