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