The market looks to be getting ready for the "Geithner effect"...LOL

Jacko's Forex House of Pleasure and Pain

Hi RR I am not a short term trader / scalper but I suggest that this market will go up until about 10.15am NY time today (it is now at 1.3882) . Jacko

Jacko's Forex House of Pleasure and Pain

Hi RickyRudy, I have no beef with Mr Geithner but the Wall St boys must have a real dislike for the guy, because EVERY time Geithner speaks, the big traders just tank the USD and it sends the Euro up 100-150 pips. A couple of weeks ago Geithner made ...

Jacko's Forex House of Pleasure and Pain

Hi Pipped Good trading . Jacko

Jacko's Forex House of Pleasure and Pain

Hi Jasper Oh..OK...Thanks I would never have thought of that. . Jacko

EURUSD

Market has hit congestion at the 50% Fib of 1.3880 mark.... . Jacko

EURUSD

Hi notch I agree 100%. Unfortunately, many traders think that a black box system is better than the human brain. . Jacko

EURUSD

hi Jasper Why 1.3819? I can't see why you chose 1.3819. . Jacko

EURUSD

Hi RickyRudy The Asian session is usually slow for the Euro. They tend to focus on USD/JPY and AUD/USD trading. 1.3950 is very possible. Every time Mr Geithner opens his mouth, the USD just drops like a rock causing all the USD pairs to shoot ...

Jacko's Forex House of Pleasure and Pain

Hi toshi Just make sure that the seat is back up in the higher part of the stadium. . Jacko

EURUSD

Hi Lovejoy Good trading..... But watch the 1.3880 It is the 50% fib from 1.3422 to 1.4338 . Jacko

Jacko's Forex House of Pleasure and Pain

Hi Fxtrader29 Good trading. . Jacko

Jacko's Forex House of Pleasure and Pain

Hi jcalow They are much better Support and Resistance lines. Note You are using a "channel" approach . Jacko

Jacko's Forex House of Pleasure and Pain

Good work dunningduke...Excellent advice. . Jacko

Jacko's Forex House of Pleasure and Pain

UK and US are both celebrating Bank holidays today ... A note from the Forex Factory calendar "Most Forex brokers remain open for every holiday except Christmas and New Year's Day. However, Banks facilitate the majority of foreign exchange volume. ...

Jacko's Forex House of Pleasure and Pain

Hi Ricky Rudy You have drawn your Fib lines correctly. What you need to remember is that there is not just one fib line.... they are a set of targets. I only use 50% fib lines because they are the most used parameter for Fibs. The 62% and 38% are ...

Jacko's Forex House of Pleasure and Pain

Hi CyberCore LOL...This is my fourth post in a row.!!...I must have verbal diarhorrea today. I trade the EUR/USD because as you say it is the supertanker of all pairs. However, I can also understand that most traders also like to trade their home ...

Jacko's Forex House of Pleasure and Pain

Hi Dan, An excellent answer. By sitting back and only taking the best setups you will keep your losses small. Also you gain more freedom by trading less often which is the ultimate goal for most people. Jacko

Jacko's Forex House of Pleasure and Pain

Following on from the previous post.... The novice traders do not understand that the key benefits of this business are the leverage, the liquidity (ease of getting in and out of a osition) and the rapid compounding of profits. Let look at the most ...

Jacko's Forex House of Pleasure and Pain

Hi CyberCore, You have raised a really important issue here. Most people when they start out trading have this compulsive "need" to trade. I think mostly it has to do with the common (but false) characterisation in the movies that traders are ...

Jacko's Forex House of Pleasure and Pain