forexbens eurusd jacko style journal
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Thread: forexbens eurusd jacko style journal

  1. #1
    Hi, I thought I'd start a journal since I think it's a fantastic way to'maintain my trading fair.' If other individuals are watching your transactions you'll be more inclined to be disciplined. I would like to concentrate on a'Jacko Style' trading approach, focusing on the EUR/USD, following the current trend, buying or buying retacements, offset trend trading if the conditions are very favourable and using the anti-hedging egy for a currency management/risk management measure.

    I want to incorporate fundamental and technical analysis into my trading to the blog. The fundamental analysis will examine whether the Euro or USD is in a position of strength or weakness. I will also be looking at any other fundamental factors which need to be factored to the trade at any particular time.

    In a technical standpoint, I will looking at around numbers, fib lines (predominately 50% fib) and fashion lines to search for entrances. I will be carrying a top down approach, beginning with all the monthly charts and moving all the way down to the hourly chart to fine tune entry.

    Feel free to include any comments, criticism or thoughts. In reality, any input from other traders will be greatly valued. I will set my current charts and listing any current relevant fundamental issues, then start searching for transactions and commenting in my transactions after the weekend.

    Here's a link to Wayne'Jacko' Jackson's trading egy

    https://forexintuitive.com/cryptocur...rames-mt4.html

  2. #2
    Here is your EURUSD monthly chart. It demones that we now have a downward trend

  3. #3
    weeky chart with with corresponding fib degrees

  4. #4
    Here is my 4 hourly chart. Here we can observe areas of confluence around the 1.2650 level. I'm trying to go short at 1.2700. I'll be putting a 100 pip trailing stop loss after the trade moves 20 pips in profit. The initial stop loss is going to be 100 pips at 1.2800.

    The anti-hedging egy will become involved if price stops me out at 1.2800, then goes all the way around 1.2850. On the return down to 1.2800, my fallen soldier is going to be resurrected.

  5. #5
    Entered at 1.2750, stopped out at 1.2850. Market went around 1.2900 so my falled soldier was resurrected back where I was stopped out at 1.2850. On the Lookout for price to level out at about 1.2650.

    Stopped outside again. Oh well, will search for a different trade later after Thank you.

  6. #6
    1.2760 also has nice confluence with the swing low on November 21st.

  7. #7
    Quote Originally Posted by ;
    This is my 4 hourly chart. Here we can observe places of confluence round the 1.2650 level. I am looking to go short at 1.2700. I'll be setting a 100 pip trailing stop loss after the trade moves 20 pips in profit. The first stop loss is going to be 100 pips at 1.2800.

    The anti-hedging egy will become involved if price stops out me at 1.2800, then goes all of the way around 1.2850. On the return down to 1.2800, my fallen soldier is going to be resurrected.
    Hi Ben,
    Sorry, I've just seen your log. I'm still a novice myself, but I'm compelled to comment:

    The Dollar is now mostly moving the opposite way into the SP500, because when people get worried they buy US Government paper (they call a'flight to quality' for some reason).

    I really don't see your confluence at 2650, only that you have attracted a couple of short term Fibs centred around 1.2625.

    For confluence dont you want at least longer duration Fib?
    Also is not it quite brave to put in in the center of such congestion?

    For chapter and verse on confluence, if you have not already been reading it, I suggest you examine the James16 Chart ribbon: https://forexintuitive.com/cryptocur...ing-lines.html
    You don't need to read all of it (1054 pages currently) only look for the posts by James16,,, and also bundyraider amongst others.

    Ian

  8. #8
    Currently, the EURUSD has started a downward trend. This is fairly significant as the pair was trending upwards since 2002.

    As everybody is aware, continues to be a mad time economically of late and it looks like the current state of affairs will last for quite a while. Its common knowledge the FED was propping up the USD. But, I think a very simplistic approach to look at fundamental analysis is to consider along the lines of strong market = growing/postive GDP = greater consumer disposable income = greater inflation = higher interest rates = enhanced price of a currency.

    Since both the US and European markets are facing impending recessions, predicting where the EURUSD will proceed becomes a lot more complied! Bearing that in mind, I think the current climate makes fundamental analysis extremely important when looking not just entries and exits for transactions, but more significantly deciding WHEN to exchange. According to this, I'll be looking to make 2 to 3 trades a week on average.

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