I don't understand the obsession with trying to call the bottom? For me the trend has reversed when it makes a higher low. Then and only then will I trade it to the upside. There will still be plenty of pips left for me in the ensuing uptrend.

USDCAD trend reversal?

1.02 is an almost 75% fib retrace on the monthly chart but I won't be going long until that weekly trendline is broken. What's your thinking behind the trend reversal and the 1.44 target?

USDCAD trend reversal?

Anything is possible with oil, that is trending up too. I can't see any good fundamental reasons why oil would continue going up but I still wouldn't be in a hurry to call the bottom of usdcad just yet. Oil plays a major factor but it's not the only ...

USDCAD trend reversal?

For what it's worth I am short this pair from 1.0858 on the break of the retrace trendline and retest (note retrace NOT trend reversal!). It's in a downtrend and until it has definitely reversed I'm staying short particularly after such strong price ...

USDCAD trend reversal?

Oops!

USDCAD trend reversal?

I'm glad I stayed flat yesterday now! Taking a closer look at that downwards trendline, it was broken and retested before it took off upwards. Shame I was at work and missed it (or didn't see it coming yesterday) I have one really simple way to tell ...

Jacko's Forex House of Pleasure and Pain

It's certainly taking time making it's mind up today.

Jacko's Forex House of Pleasure and Pain

That's true. There is definitely a downwards channel on the 4 hour but quite a bit of support below it. 1.41, weekly 50% fib and the weekly trendline. What about a possible head and shoulders with the resistance at around 1.4350 on the weekly? ...

Jacko's Forex House of Pleasure and Pain

That's something interesting I only just noticed. The 50% fib of the last move up on the weekly corresponds exactly with the major historic support and resistance level of 1.41. That could be an interesting long if it breaks the top line of that ...

Jacko's Forex House of Pleasure and Pain

No problem, glad to help. I'm still new to this method myself but my previous experience with forex gives me a good understanding of fibs, support and resistance and trendlines so it's simply a case of putting it all together and giving it some ...

Jacko's Forex House of Pleasure and Pain

If it's going to break lower I'd like to see it retest 1.41 and/or that upwards trendline from below and then go lower. That could be a big move if it comes off.

Jacko's Forex House of Pleasure and Pain

Fair enough. I notice he's not online at the moment so I'll give you my interpretation and he can correct me if I have it wrong. I attached a chart a few posts back. That downwards sloping trendline at the top is holding pretty strong. Draw a ...

Jacko's Forex House of Pleasure and Pain

If you've read the thread from the start then I am confused by your question. Use a 100 pip trailing stop loss. There are no targets. 1.4171 is NOT a round number. These numbers are where price has met support and/or resistance in the recent past.

Jacko's Forex House of Pleasure and Pain

I see your thinking. Looking at the weekly chart it would suggest it could be about to head down. I'll watch for now and consider a trade tomorrow or Monday. Thanks for your help.

Jacko's Forex House of Pleasure and Pain

Sorry, was typing as you posted. You have cleared it up for me nicely. Thank you for your excellent analysis.

Jacko's Forex House of Pleasure and Pain

The chart attached shows my view at the moment. That triangle will need to break one way or the other. I agree that today will probably show a red candle but personally I think I will wait for tomorrow and look for a long.

Jacko's Forex House of Pleasure and Pain

Thank you for your swift reply. I have one more quick question. A recent post advocated a short. Surely the main trend is up and it would be more prudent and closer to the system to wait for a move towards 1.41 (a historic support and reistance ...

Jacko's Forex House of Pleasure and Pain

Hello, I am newish to forex factory and came across this thread just recently. I like the simplicity of the system and I will begin trading it soon. I have taken the time to read the thread through from the start. No mean feat with so many pages! ...

Jacko's Forex House of Pleasure and Pain

Hi, new to the forum and just read the first few pages of this thread. I like the no indicator simplicity of this method. Is anybody making money following this method?

Silent Service Method