I am also a newbee to trading at all. May be you should draw your TL also in higher timeframes like D1/W1. It might bring you a better feeling of the trend above... The 50 fib is in my understanding an additional criteria to support and make things ...

Jacko's Forex House of Pleasure and Pain

Your Fibo is just fine. I also saw this turnaround at 50. The turn just had no speed at Friday night (all pro traders are on late night lunch ). Therefore I am bullish too, read here for my "feeling" about this: url I guess the daily was ...

Jacko's Forex House of Pleasure and Pain

I would not bet for a materializing continuation of the previous daily downtrend as long as the breakthrough has been confirmed by at least a minimum of one or better two tests of the daily TL from below. Holding the market below the TL would be ...

Jacko's Forex House of Pleasure and Pain

US long term investments = EU exports!?

EURUSD

Is there a flag forming in M5? Up up and away... we'll kill the 3600

EURUSD

We learn that a negative trade balance is not good for an economy nor its currency!?

EURUSD

I went short yesterday and earned 80 PIPs. I am short now again from 3380 because it reached resistance at latest upwards trendline and fights against 3400 which seems to be lost. But Trend generally seems to be upwards. There is also an upper ...

Jacko's Forex House of Pleasure and Pain

May be a first sign that FED's reinflation works... and resulting faster inflation rates may occur which devaluate USD. This may not be good for USD.

EURUSD

Sorry, did not read books about Forex yet :-) (Except of the first 30 Pages of a 384 page book about Elliots). When I was talking about "depth" I meant to get from a general view down to a detailed view, just like zooming into fractal graphics. A ...

Jacko's Forex House of Pleasure and Pain

Yes you are so right. H4 is my preferred timeframe, but for re-entries I sometimes would like to go more in depth (of course M1 is extreme for me, too).

Jacko's Forex House of Pleasure and Pain

Currently for me it's like a ride on the dragon. You need to "stare" on the M1 candles... so you can see the volatility. For this race every "retrace" in M1 is a possible entry. Normally I am looking on higher TF like M5 or M15 to ride such a ...

Jacko's Forex House of Pleasure and Pain

1:50 - Now, we are running downwards. Entered on EUR$ at 3290, current 3233 (currently pins my old top line of the last downtrend)... and stopping... What's next? 2:54 - +60 PIPs currently and second order at 3226... 3:17 - 1st order now 70 PIP, 2nd ...

Jacko's Forex House of Pleasure and Pain

Maybe in the current environment it is better to lay back and let the candles roll... I also read that the president of mexico would like to have their citizens stop going outside their homes for 5 days from may 01 to may 05... I am not the totally ...

Jacko's Forex House of Pleasure and Pain

And she did it again, pinned the new bull upper channel line at 3367... This time I will take care and wait for a clean retrace below 3300 and confirmation in H4 before going short again. But I bet long would be a better option. Seems she gets her ...

Jacko's Forex House of Pleasure and Pain

Yeah, I've been stopped out with 100 PIPs S/L... That's the way we learn from our mistakes. Even that I knew it - I ignored "trade what you see"...

Jacko's Forex House of Pleasure and Pain

Now it's time to ride...!? — I am short now with EUR$ at 32783. Bounced right back twice from 1.33443 resistance and near upper channel line. But it would be a retracement as we are likely on a bullish way now like Alexandra stated some pages ...

Jacko's Forex House of Pleasure and Pain

Good question — Sorry for "overriding" Jackos answer before he came to speak. But it is a very good question in my eyes, teddybear. I am also very fresh in the market, my situaiton is also similar to yours, but my familiy merely stands behind ...

Jacko's Forex House of Pleasure and Pain

Hmmm.. Support level? — In my 4H chart and 1H chart I have multiple support testings around 2980. 04-21-2009 around 04pm, also tested on 16-03-2009 12am. That was the point the pair hopped upwards... just one stop level of many of course... ...

Jacko's Forex House of Pleasure and Pain