eur/usd 1-30-2009 1hr (2nd) post) 09:25 gmt

This is a continuation of the prior post. You should read the prior post before you read this.

Now You're looking at the 1hr chart. We have the 4hr support and resistance levels. See how we had a 1hr breakdown below support. However, the bar had lower volume and our mfi index shows that the bar was not supported by pros or retailers so, this was a drift bar with no power.

Therefore, for you 1hr chartists, this is not a good 1hr breakdown to short. You want to see a weak down bar supported with volume to signal a short here based on the 1hr.

The yellow line is 1hr resistance. This is how you zoom in from the 4hr to the 1hr and further define your support/resistance levels to a razors edge. so, even if I'm trading off the 4hr direction I want to enter off the 1hr or less entry signal.

Markets are fractal and everything that applies to one time frame applies to all.

Got some 1 on 1 sessions to do so...

Cheers for now, Jerry

eur/usd 1-30-2009 4hr 08:08 gmt

Yesterdays trade went as expected and was profitable. The 4hr chart above has 4hr support and resistance levels. We are currently below support 1 but you should wait for a close below support 1 before you take any short trades.

I would really be suprised if we go below support 2. This is because yesterday's down move on the daily chart was a strong down day. We are testing daily bottom support after a strong down bar. Today the market may want to turn up to surprise the herd and trap the shorts in positions over the weekend The nice down move was not supported by volume which means we should look for strong up moves coming up off of intraday support.

But in the meantime, look for support 2 to be tested. Now, just because you have the locations doesnt mean you have an entry signal. What we have if we close below support 1 is a trade signal that tells us the market will most likely go to support 2.

But, when do we enter...why do we enter...where do we place our stop...where do we place our target...who is in control of the current move, professionals/operators or retail/herd...

I know your system already tells you all of that so I don't have to...

But for my LCM'ers, wait for a higher volume close below support 1. If that should happen, place your limit order to enter short at support 1, with your stop above the high of this current bar. Take profit at support 2. Note. If support 2 is hit first, then you would nullify the trade signal because the target is hit. It sometimes occurs that the breakout/down bar blows through and hits the target all in one bar. When that happens it is a trap.

Cheers, Jerry

eur/usd 4hr 1-28-2009 04:20 gmt

Yesterday's Ice storm shut me down. No power. So, that's why no update.

That being said, Let's make some money. Enter short on pullback to green line (entry).

Cheers, Jerry

LOOK AT THE DAILY CHART BELOW

Many times I want to get something out to you about the market however, you know that the forex market can move so fast within minutes or even seconds that we don't even want to go to the bathroom if we're in a day trade.

So I tried something new today by posting the chart first, at the time I've drawn my conclusion about direction. So, if you've been with me for a few weeks you will begin to insightfully project what I'm saying just by the lines I'm drawing on the chart.

Okay then, what we have on the chart below is an LCM bullish pivot breakout.

Pivot point support@ 1.3880

overhead Resistance @ 1.4462

bottom Support @ 1.3500

The move is counter trend so operators are bound to test the limits of your intraday stops. The only time your really want to trade intraday against the trend is when the intraday trade is very close to the daily support or resistance level.

Alright, I've given you your daily support and resistance level. Looking at those 2 long red(down) bars to the left on your chart, you LCM-ers should know that these 2 bars are loaded with buyers. Short sellers are beginning to stampede and my people (LCM-ers) you know what that means.

Everyone else, I've given you the levels, so I know you've already got a system that will get you in an intra day trade and keep you in the trade long enough to ride the move up to support, without getting whipsawed out of the trade. Like they say, "timing is everything"...

Cheers, Jerry

GBP/USD DAILY (1-27-08) 07:45 GMT

Looks like it's time to test the breakdown

Hmmm... strange things always seem to happen when I start telling people where to buy and sell. I posted this chart at o7:45 gmt. But, it seems that every time I post it It keeps disappearing. Each time I come back it disappears. So, the preceding blog post is supposed to appear after this post.

So, this is the original chart referanced as (the chart below) in the preceding post.

Cheers, Jerry

eur/usd 2nd update

Hey now. We want to flow with the market.

Also, some of you have been asking me about testimonials. Listen, I get new testimonials almost daily. I dont't have the time to keep updating them but I can supply some if you need to see them.

For example: From a student who had his first 1 on 1 today.Wow Jerry ,

I just saw a setup on eur/usd @ 1.2950 with what I learnt from the videos I watched
yesterday and from the lesson today.

:)

Stan (name changed to protect privacy)

Cheers, Jerry

Okay. I have begun doing intoduction 1 on 1 for those who what to see what it's like.

I know I don't have to say this but when I'm doing classes it is very hectic. I cannot respond to your inquiries immediately and many times I'm doing 1 on 1 back to back for several hours.

Now, that being said, I want to try to free your mind a little bit Neo. THE MATRIX HAS YOU!

95% of you at least.

The biggest problem is that you are a SIGNAL JUNKIE. There is a huge huge differance between knowing a signal and knowing how to trade. Signals don't last. Different signals work according to what phase the market is in. Is it trending or consoladating.

When I first learned the alphabet I thought I knew how to read. When I learned how to put the alphabet together to form words I thought I knew how to read. When I learned to form words into sentences I thought I knew how to read. When I learned to string sentences into paragraphs. Then I learned to string paragraphs into a book and then I could TRULEY READ...

The market is a book. Have you learned to read the market...?

Cheers, Jerry

TRADING ROOM INFO

Hello

No market updates today. Here is what's up.

Here are your instructions for joining the trading room. This is the first of 2 registration emails you will recieve. Today you will recieve an instructional video.to help you get started. There will be no charge for the first week for students who have purchased any of the products on the website. 1 on 1 students free fulltime access all the time. Any Prior or current 1 on 1 students can drop in at any time without registering.

Those who have downloaded the free version of The Laws Of Charts and Men will recieve 1 day free access but Partisipation will be limited. You will be allow to observe but not participate.

This is a beta format and is a change from how I've ususally been doing it. So, please be a little patient. I planned to open the trading room tonight but will have to start for the Wednesday London open.

Skype# tradingmajic

Land line 1-313-406-7798

Trading Room Rules

1. Mute your microphone. When it's your turn to talk you will be directed to unmute your mic.

2. Type questions into text chat window and your question will be answered in the order recieved.

3. Questions must be on topic. Topic will be directed by instructer (me). Although salutations are welcome, we want to avoid questions and topics of personal nature. This is to insure that all partisipants will have an opportunity to get their questions answered fully. This also keeps things directed.

Trading Room times

Trading room will be open 3 day a week for The open of the London Session until the close of the London Session. 11 hours of the trading day.

2:00 am. til 1:00 pm New York Time (0700 to 1600 GMT)

Session days will alternate from week to week. Week 1 schedule will be Monday, Wednesday, and Friday.

The next week will be Monday,Tuesday, and Thursday. Alternating between the 2 each day. I'm only human and must fit real life situations into my life so, there will be times when something unexpected comes up. If I have to cancel class for any reason, that class will be made up either, in that same week or the next week.

Students may feel free to join the session at any time during the trading day.

Class will be in session for the first 15 minutes and the last 15 minutes of each hour during that days class.

When you want to join the class you will need to notify me during the times that class is on break so that I can add you to the class for the next 15 minutes.


Learning Format

Live interactive training. You will be able to see my screen live in real time as I give chart illustrations of THE CHARTS AND MEN SYSTEM as well as how to trade the method in real time on whatever time frame you are trading.

Real time trading advice on whats going on with any pair during the class.

You will also be able to allow me to see your screen when you deem necessary.

In addition to being able to see each other's screens when we allow it, we can also transfer control of our respective mouse to each other. When you combine voice, chat, and file sharing, You now have a true interactive learning inviornment.

I'm in the process of making sure everything goes smoothly so I don't know If I will be able to but I will try to post a market update.

Cheers, Jerry

gbp/usd 2nd update 1-19-09

The 4hr bar that just closed at 0800 gmt (3:00am est) closed as a bearish reversal bar.A short entry is signaled on a pullback to 4825 as per video update.Instead of entry at the daily single bar resistance level of 4825 (which is a valid entrybecause it is a resistance level.

The safer entry to shorten your stop would be the open priceof bar A 4870 with stop above the high of bar A which is 4907.

An even better stop would be the high of bar 1 because it is the high of the last upswing.
You can see that we are bouncing off daily single bar support. and at the time of this writinglooks to be bouncing back up to test the reversal bar and overhead resistance at bar A.

You should always anticipate a bounce off a support or resistance level. Especially it the levelhas not yet been tested.

If the entry is hit then here is what you do from here. At the end of each 4hr period check to see if yourtake profit or stop has been hit. If neither has been hit you determine if the last 4hr bar closed weak.

If it closed weak you want to get out early with whatever profit or loss you have at that time.Also the signal is only in effect for the current 4hr period. If an entry has not been hit the tradeis canceled.

Cheers, Jerry

GBP/USD 1-19-09

VIDEO UPDATE GBP/USD 1-19-09

CLICK HERE FOR FULL SCREEN

VIDEO UPDATE GBP/USD 1/19/09

CLICK HERE FOR FULL SCREEN