Jason_Stapleton
Short

EURNZD Prime for a Short

FX:EURNZD   Euro Fx/New Zealand Dollar
Guys I discuss this in detail in this weeks Forex Market Preview. http://youtu.be/krJVPxAK_Wg

If you're not a subscriber you can do so here: http://www.tradeempowered.com/forex-market-preview/

Thanks and talk to you soon!
I don;t believe that is necessarily a great spot to short it - 1.636 seems likely. Therefor building a short gradually may be wiser.
Reply
TheNickD MarketAlly
2 years ago
nice call
+1 Reply
meymz
2 years ago
At the same time it's sitting at a .50 Fib retracement.
+2 Reply
TheBestMA
2 years ago
and NZDUSD is at weekly support level. Thank you
+1 Reply
Equinox
2 years ago
It seems price is coming off a bull Gartley in the same time frame and yet to reach first target @ 38.2 which is somewhere around 1.6080!
Reply
mustard
2 years ago
I am not sure why you do not mention the bull Gartley pattern which started from the April 2013 low and completed in July 2014?

Anyway, let's hope you have not scuppered my current initial long target of 160.00.
Reply
Jason_Stapleton PRO mustard
2 years ago
Mainly because very few retail traders can handle the risk on a trade like that.
Reply
mustard Jason_Stapleton
2 years ago
The risk is entirely dependent on your position sizing Jason.

With the EURNZD having bounced off an all-time low and formed a double bottom, that Gartley could be very significant.
+3 Reply
meymz mustard
2 years ago
The spread in the EURNZD pair is much higher and the SL will be wider, that's why for some traders without sufficient capital it's not worth a try.
Reply
mustard meymz
2 years ago
If you are concerned about spread then our trading strategies are probably very different. Carry over is of more significance to me on this pair.
Reply
Jason_Stapleton PRO meymz
2 years ago
I have a 4 pip spread on EURNZD. If that is too much or your broker has wider spreads then this may not be a trade for you. I would suggest sticking with the 2 or 3 major pairs with tighter spreads.
+1 Reply
Jason_Stapleton PRO mustard
2 years ago
Mustard the average trader in the FX market has a 3-5 thousand dollar mini account. In order for you to trade that Gartley a trader would need to risk around 480 pips or roughly $1000 dollars. That is between 20 and 30 percent of the account. It's easy to make a statement about reducing position size but I'm trying to make my posts relevant for the masses. Most people simply can't get that small.
+4 Reply
mustard Jason_Stapleton
2 years ago
Whoa hang on a minute Jason, you seem to have assumed I traded off a Gartley on a weekly chart, 480 pips SL?

I use the same top-down analysis as anyone else does and my entries are usually based off the H4 or less.

There were other signals in addition to the Gartley on the weekly, like a bullish Butterfly pattern on the daily, completed 10th July and no, I did not trade off that either.

Look at PA on the H4 after 12th June, the descending triangle/wedge formation and the breakout after the 25pts base rate hike, that is where my entry came from.
Reply
Jason_Stapleton PRO mustard
2 years ago
Mustard you may have your own way for making entry that involves multiple time frames. I teach a very simple yet specific method for entering and managing pattern trades. Because of that, the stoploss on a weekly pattern would be wide. In the massive amount of testing and trading we've done over the years we know that the stop placement on the patterns is extremely important in order to maintain the profitability of the pattern.

If you have some numbers for your strategy that allows for a tighter SL and increases overall performance then I would really like to see it. I'm always looking for ways to improve the rules we use in our patterns.

With that said, I'm not going to continue the discussion on the Gartley pattern. But thank you for your input.
+4 Reply
CristiCristi
2 years ago
stopped out, same on the EJ idea posted last week, do u ever post any profitable ideas?
-6 Reply
Jason_Stapleton PRO CristiCristi
2 years ago
Maybe you shouldn't follow me, or anyone for that matter.
+8 Reply
AshleyWeyers CristiCristi
2 years ago
Amazes me how people who have no ideas and no contribution have so much to say.

I have followed Jason for nearly a year now and can highly recommend his ideas and training. Been the first time in my trading life I have been consistent.
+3 Reply
Scu_FX AshleyWeyers
2 years ago
Yeah, i gave up trading for some years and then i found some stuff from Jason and Akil from TradeEmpowered at Youtube. That's why i'm back! And consistent! Thank you guys :)
+1 Reply
Scu_FX CristiCristi
2 years ago
At which price you've set your SL?
+1 Reply
CristiCristi Scu_FX
2 years ago
at 1.5892...few pips above the SL Jason recommended on the youtube video
Reply
Scu_FX CristiCristi
2 years ago
ah ok, i set it @ 1.5903 cause of the significant structure and took there another short position, wish you good luck next time
+1 Reply
meymz CristiCristi
2 years ago
lol, wtf?! sorry if i break a forum rule but this is just lame, why should you blindly follow a trader? do you know his methodology? do you have your own rules? food 4 thought.
+1 Reply
TheBestMA
2 years ago
The idea was right but some economic news made it wrong. Thank you anywqay Jason, keep going..
Reply
Jason_Stapleton PRO TheBestMA
2 years ago
I'm still short.
+2 Reply
g2-rockach Jason_Stapleton
2 years ago
Same here, round about 65 pips up. Taken some profit already. Cheers.
Reply
g2-rockach g2-rockach
2 years ago
Shorted @ 58.900, took some profit @ 58.334. Leaving the rest to run to 57.940. Stop now @ break even.
Reply
Scu_FX Jason_Stapleton
2 years ago
Me too. The idea is very good and still valid in my opinion.
+1 Reply
CristiCristi Jason_Stapleton
2 years ago
If I've seen well your SL was 1.5888 on that presentation u made on youtube, so how come you are still short? Did u re-enter ?
Reply
Jason_Stapleton PRO CristiCristi
2 years ago
As I have said before, this is not a signal service. I gave traders some idea about where stops should go. My stops were resting higher than that because I wasn't sure where the market would turn. I am still now only at break even.

If you really want to see what I'm trading, when I'm getting in and out of trades then you should join my syndicate. (Example): I shorted GBPUSD and the stop I posted here was hit, but we covered that position this morning for a 70 pip profit. I did not have stops at the stop level be cause I wanted to add to the short position if it went higher.

I know this is all unverifiable and most likely will have no effect on your opinion. All I can tell you is, if you don't like the charts I put up it's an easy fix. Don't follow them. I'm not here looking to make a name for myself or prove my stripes as a trader. I'm here to help promote TradingView and their great charting software.
+9 Reply
g2-rockach Jason_Stapleton
2 years ago
Well put Jason. You have certainly inspired me over the last few months. Thank you.
-1 Reply
RyanHorner Jason_Stapleton
2 years ago
Jason, I've been following and learning from you for some time now! Can't thank you enough for the work that you do and the professional traders view of the markets that you share!!
And it's awesome to know that we shared the same thought this morning. I also capitalized on the GBP/USD move for a 100 pip profit :D
Reply
one2avr
2 years ago
Jason, I for one appreciate the hell out of your work, Thank You !
+2 Reply
Scu_FX one2avr
2 years ago
I've had a long time period "lost in space". The good work from Jason is the main reason why I am back at trading desk, an have deleted all the *** indicators and useless stuff, learned to read structure and here I am... profitable :-)
+2 Reply
scrosbie PRO
2 years ago
Keep going Jason. Those who have followed you in other places for some time know what you are about. It would be helpful to everybody if the idiots that do not want to participate in the spirit of your posts just go elsewhere. The masses are following Jason's posts because we choose to. Sadly the EGO commenters will probably continue - but they should be aware that others see them as an annoyance to be persevered .
+2 Reply
Hi Jason, i appreciate your analysis, i see that those who criticize your ideas and analysis when you are "wrong" they simply have lack of knowledge and somehow forgot that everyone who whats to dominate the markets first of all has to study, practice a lot and then, yes, follow trading ideas like your's and be able to correlate or not one's analysis with your's, for example. I strongly advise those frustrated people that come here only to criticize negatively and without any constructive ideas to share with our community to STUDY AND PRACTICE FIRST OF ALL... Aniway, keep on whit the great work Jason!!!
+3 Reply
TheBestMA
2 years ago
Hello Jason, your analysis and syndicate program is awesome, thank you.
Reply
Davis
2 years ago
Im really a beginner at this but I`ve looked at lots of strategies but I never actually understand things. Then I accidently saw one of Jasons videos on youtube and Im following him ever since. Finally I start to understand the market and suddenly all this makes sense.
Thanks you Jason! You are the best!
+1 Reply
mpoweriv
2 years ago
I'm up 92 pips on this trade. Thank you. One day I will hopefully be able to spot these types of trades for myself. Until then I'll keep learning as much as I can.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out