EUR / USD - Daily Pin — Would welcome some thoughts on the chart and pin bar below. Up until now I have not traded using price action, just using S/R levels, trendlines, 50% fib and round numbers - i.e. as per 'Jacko's' style of trading. ...

james16 Chart Thread

Ok, understood now. Just because it has gone up 9/10 does not mean there is a higher probability it will go down or is due a down day. Not sure what price you mean as that is a typo? As it happens I have just entered a short trade...but for ...

Jacko's Forex House of Pleasure and Pain

I wasn't trying to suggest that volume of trades is important or that you can't wait for an A+ setup, but waiting for the price to retrace to 1.4400 in my opinion is wrong...the price might not retrace at all to anywhere near that level, I was just ...

Jacko's Forex House of Pleasure and Pain

Overbought...why do you say that, please don't say MACD, RSI or any other lagging indicator is telling you it is overbought? For an A+ trade you should be looking at potential areas to go long...these areas will be previous resistance turned support ...

Jacko's Forex House of Pleasure and Pain

Jacko's principles are to trade in the direction of the trend...but that does not mean he doesn't enter trades against the trend, it just means that the prime trades he is looking for our pull backs in order to go long in an up trend. The E/U is not ...

Jacko's Forex House of Pleasure and Pain

Yes the 'inner' trendlines are holding as support and resistance at the moment and you would have had some nice trades of these. I have these lines on my chart too as per below. As you can see the price will breakout of this range quite soon as the ...

Jacko's Forex House of Pleasure and Pain

Jacko's method is to connect the recent highs and the recent lows ona 4H chart set to 300 periods...thus your orange lines are the same ones Jacko would have. Obviously there are other support and resistance points, a couple of which you have ...

Jacko's Forex House of Pleasure and Pain

Ahhh, yes that sounds like a more rationale reasoning! Can you explain to us all why that causes a broad sell of off the USD? I used the dailyfx chart which I presume is Netdania...do not need anything else or any fancy 'pay for our charts we've got ...

Jacko's Forex House of Pleasure and Pain

Apologies for the awful spelling in the last message! No sooner had I typed that the price did break downwards - I entered half a position short at 1.4340

Jacko's Forex House of Pleasure and Pain

Yes, there is is resistance above and support below. The fact that the price is hovering around the support line rather than boucning off it indicates we are looking at a break to the sort side...an as you say we are near the top of the overal ...

Jacko's Forex House of Pleasure and Pain

Price spiked up and closed above 4H trend line...that should mean we now looking for a pullback to that line which should act a support in order to go long? Or are we careful as the spike yesterday was caused for no fundamental reason just low ...

Jacko's Forex House of Pleasure and Pain

Excellent trade Jacko! Congrats. Missed out on my re-rentry target at 1.4350 after I closed out my initial short this morning grrrr. Oh well, it's in the past so just a case of waiting for the pull back now to go short again.

Jacko's Forex House of Pleasure and Pain

My price action alert did not trigger for some reason...so missed a short opportunity @ 1.4350. It is testing the S level at 1.4265 area now on 4H...core durable goods news release in 45 mins, price could break down, though could be whipsaws in both ...

Jacko's Forex House of Pleasure and Pain

Good response, agree with all the points mentioned

Jacko's Forex House of Pleasure and Pain

Unfortunately it didn't! Broke back up and I closed @ 1.4314 for + 28 pips. :-/ I'll be looking to re-enter a short from higher up again - depending on news, which there is a fair amount of today. I prefer trading the S&R / trendline levels on the ...

Jacko's Forex House of Pleasure and Pain

Thanks, I entered slightly later as wanted to confirmation from the close of the 4H bar that the price had reversed of the trendline (plus it also coincided with the US economic releases today). I've moved stop to break even and will let trade play ...

Jacko's Forex House of Pleasure and Pain

I can handle both, but obviously would be miffed if either happened? No-one would be happy missing out on 100 pips more proft nor a profitable trade turning into a losing one... Price normally hardly moves in Asia, so unless something drastic ...

Jacko's Forex House of Pleasure and Pain

Hmmmm what to do...short open from 1.4332, price has stalled at the 1.4300 resistance area on the 4H chart and it is nearly time for bed! Surely very unlikely it will suddenly get momentum during Asian markets and push down, more likely it drift ...

Jacko's Forex House of Pleasure and Pain

Excellent - thanks

Jacko's Forex House of Pleasure and Pain

Does anyone know where to get free 'price alerts' from (apart from dailyfx as they dont seem to work). Would be useful to be able to have some price alerts at times when I am at work. thanks

Jacko's Forex House of Pleasure and Pain