tntsunrise
Long

GBPAUD LIBRA PATTERN UPDATED

FX:GBPAUD   British Pound/Australian Dollar
22925 185 315
The GBPAUD             is likely to complete the LIBRA pattern
which we wait for so long :)

Look closely when price hit 1.7133

Check the price action and ready to go for long

This might be a trade that can profit more than 1000 pips
So get ready.
Comment: Getting Closer.
Keep ur eye open
Comment:
snapshot

1H charts shows good support at 1.7133
Trade active:
snapshot
Comment:
snapshot

Lower Time Frame analysis
Comment:
snapshot
Comment: GBPAUD is testing the previous low: 1.6720
Trade closed: stop reached: Hit my stop loss at 1.6690 coz GBPUSD breaks the new low.

Exit trade, find other opportunites.
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Hi
Is there any difference between head and shoulder pattern AND libra pattern. what is the stop loss for libra pattern?
+7 Reply
derby kmk.msp
was about to ask the same question. lol!
+1 Reply
Educational Study: LIBRA PATTERN
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PhilippeRitchot PhilippeRitchot
this is one of jacks older post! I could not however confirm anywhere that it was a Head and shoulder, altho very similar!
+1 Reply
tntsunrise TOP PhilippeRitchot
H & S Enter at Neck Line. Libra pattern has a much better entry
+4 Reply
kmk.msp tntsunrise
thanks jack
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kmk.msp tntsunrise
Jack, is GBPCHF making the same pattern?
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derby tntsunrise
thanks!
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piptamil PhilippeRitchot
Educative....Thank you.
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tntsunrise TOP PhilippeRitchot
THANK U, U SAVED THE LINK
+1 Reply
piptamil tntsunrise
YES jack....
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Ready for this! Tnx, Sir =)
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Breaking below 0.786 finbonacci level will invalidate the setup?
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Thanks for the heads up :)
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Gbp/usd,usd/cad,which is better to buy in for long?
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I have it a bit lower, but we have the same idea.
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When it gets to the potential buy zone, I will be monitoring volume transactions to confirm this. Fundamentally, I expect gold to go sideways. Why? If the US, truly, shall raise rates in the 4th Quarter, then gold will have to compete with the hunger for yield in the US dollar. All of us GBP forecasters cannot tel what to make of the GBP until November. So, with the lack of confirmed data from the GBP until November, this looks like it could be a good set-up on the daily. So, there you have it. Jacks technical chart combined with fundamental thoughts. What's missing is analysis of volume.

Risk: GBP data starts to come out more bearish that ever expected.
Personally: I think the UK central bank has the poker face card in their hands. They are holding out until they can get more investors for November's UK Inflation report. Haha!
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theforexscrub Rocketman
So we good to go on this mr rocketman
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Rocketman PRO theforexscrub
NO GO! I hate the way the lower time frame looks like. I'll pass on it until something shows up a 9pm New York Time.
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Rocketman PRO theforexscrub
It is best to stay SHORT GBPAUD right now. Until a better scenario arises.
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Rocketman PRO theforexscrub
Sorry for my slang. just to clarify for those picky with words. I don't really mean take a short now, but just to NOT buy or sell. Remain negative until volume kicks in to tell you that people are convinced that this is it.
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Rocketman PRO theforexscrub
To clarify again... the VOLUME is unconvincing.
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Rocketman PRO theforexscrub
snapshot
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theforexscrub Rocketman
Ill wait after fomc ... but i think jack is good on this one
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forexramen Rocketman
tell me when rocketman!!!
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Rocketman PRO forexramen
snapshot
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Rocketman PRO Rocketman
I'll take a small shot at it. I have orders at the black line.
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Rocketman PRO theforexscrub
snapshot
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you have to wait for the pattern finish i think
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Thanks jack...
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Hi Jack,

Could you check the 1D chart of EURGBP ? I see the the price is at PRZ of Libra right now on this chart but waiting for the confirming candle sticks.

I learned the Libra from you and it works for me especially using with 0.618 retracement. I'm really really appreciated !!

Cuong Tran
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tntsunrise TOP CuongTran87
U ARE RIGHT. GBP IS IN THE SUPPORT ZONE
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CuongTran87 tntsunrise
Thanks Jack. Is it a good practice if I put the stoploss some pips below the 0.786 ?
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Very nice jack I'm already long from from 1.726
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thanks. keep care
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Hi Jack, similar pattern at AUDCAD what do you think about it ?
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i am all day short now. would be fun to go longterm long soon. thanks for update!
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in which tf would you looking for signal?
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tntsunrise TOP andras1229
1H
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seems it touch and go a few times
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Price has entered the Yellow box waiting for you go ahead.
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1.7133 hit wait for reverse pattern form?
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Is coming to the buy zone, it would be good to get now?
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I'm curious how you would play this if it didn't hit your box? If price began to recover from here would enter or do you want to see your target hit no matter?

Regards
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i will wait for the prcie to come , if never come, i just wait. untill i spot other opportunities
+1 Reply
I just entered the trade 1.71653 with 3 TPs! Thanks for the ideas as always!
+1 Reply
angelissaill PhilippeRitchot
STOP LOSE??
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PhilippeRitchot angelissaill
1.69276, but try to find your own comfort zone!
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Danke hat perfekt gepasst Daumen Hoch für Sie
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When you miss a 618 entry by the spread...gawddaaaad
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I think trade is active I bought @1.7145
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Hello. I have sent Facebook request. Please approve my request to your group
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hey jack.. if USD appreciate due to rate hike how it affect to GBPAUD pair ??? what is the correlation bet ween those pairs ???
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it will. and if aud falls mall, gbpaud will rise
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is the trade active if so what is s/l also why trhere is no weekly vedio
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tntsunrise TOP PhaniKumar
good question, i also want to know why there is no weekly video.
+6 Reply
would anyone know good broker to use for trading forex and futures? i am in canada
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I use Forex.com
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tokyo slim520rr
thank you slim
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Very impressive Jack.
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Wonderful! I took the same trade also, I liked that unfilled gap around 7133. Great share and idea Jack. Keep up the good work.
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Rocketman PRO Rocketman
Its so clear... only retail traders are buying. You can get in before the big boys. Hopefully, they will also join you.
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Good catch again ) thanks!
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WHAT IS A LIBRA PATTERn,
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Educational Study: LIBRA PATTERN
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SungPLM tntsunrise
Ok thanks for that information. Is there anyrules for this pattern? is there a minimum of distance betwen the base and the trays?
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Potential Mini-Libra:
snapshot
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looks like the left tray is not a curve.
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Rocketman PRO tntsunrise
Yeah.... no force to put up this falling trash.
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mskv21 PRO tntsunrise
Had to bail out, hit the SL. Perhaps better luck next time. Good luck to everyone hanging in there.
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The smart big players are using 0.618 loading up their longs again.
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Thanks jack :)
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Thanks jack im IN as well.
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I will wait 1.7050
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Calamity Calamity
meanwhile I expect gbp/usd hit 1.2808 and then retrace to see if it will break trend line or not
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thanks jack, what about the sl and tp?
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jpctop daniel6769
Educational Study: LIBRA PATTERN
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ok, thank you very mcuh. i got it.
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Thanks for the idea and updates. It looks like price is still falling slightly. Is there anything else we could watch for to catch the reversal?
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I added one more position the third time it touched the .618 but it's looking really bad so far..
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thanks jack for your highlight. today i make some profit to trade the range within 100 points. buy low sell high.


thanks agina. great master JACK!

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So who's closed there positions ?
+2 Reply
I bought it here:
snapshot
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theforexscrub Rocketman
Yeah on it thanks
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theforexscrub Rocketman
Doji on the daily... here we go rocket outta here - zoom zoom!
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EagleTraderFX Rocketman
Where you placed ur sl?
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forexramen Rocketman
closing this trade for now , waiting for au to hit 77 then ill renter
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theforexscrub forexramen
Actually im back in !!! Zoom zoom
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GBPAUD is weird GU is doing doing well against a more powerful currency yet GBP cant see, to do well against AUD :s
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jonats fali4209
Because AUD is doing heck of a job against 6 currencies except JPY.
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fali4209 jonats
thanks i think were going to see 1.69 tonight
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It is great help when you mention trade active. Will make some pips and money with your trade active setup and enroll for your course.
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Same construction in EURGBP
EURGBP 4HR
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I'am out, hit SL. Thank you everybody. Perhaps next time it'll work better.
+1 Reply
Hi Jack, what is ur SL ?
+1 Reply
that does not look good./
+1 Reply
Man I was 7 pips away from my Stop! All hail the forex gods haha
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snapshot

buy now...;-)
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D27 D27
and buy gold also...
+1 Reply
snapshot
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buy the pull back is better.
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D27 tntsunrise
ok sir... thanks
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Hey Jack, what do you think of EURGBP? Looks like we have a similar setup.
snapshot
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Im on this one too
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still valid?
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He will still up?
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Jack - Great trade. Learned a lot from you and have applied my own strategies. Thank you
GBPAUD - LONG
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I put orders in, but have high doubts about GBP, in general; hence the small target:
snapshot
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Rocketman PRO Rocketman
Risk to this trade:
snapshot
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yes, we are trading a potential higher low
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Perfect Jack
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BeFX -Andrew-
LOL
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I also think this is a great time to re-enter.
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so what to do now ??
+1 Reply
waterman hamedo
That is a 100 million question !
+1 Reply
hamedo waterman
:D
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Hi jack I think this trade is dead in the water new daily low coming
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JJEL fali4209
It will fly in space now
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Unfortunately you are wrong but gl
+2 Reply
hey mate, take a look at the original post and the box Jack drew on the chart. Price has only just come inside this box. This box represents an 'area' of a potential price flip. Meaning it's likely somewhere in this area price is going to reverse. It's not set in stone, but usually Thursdays/Fridays you tend to see price reverse from the direction of the week. Look at price action currently in the box. It's indecisive, it doesn't know what it's doing currently, of course, it may just smash through lower and we'll all get SL. Or, if we're patient and sit tight with the correct risk, we can wait it out and see if it reverses end of today or next week...check AUDUSD...that's priming itself for a sell too. Only time will tell and we'll have to follow what the charts tell us.

Ben
+1 Reply
fali4209 deLazyLizard
Thanks Ben I agree with you on this in just saying the price will hit 1.69 before it reverses
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Maybe, maybe not. Only the market knows. :-)
+1 Reply
fali4209 deLazyLizard
I would enter now maybe I'm waiting for 695
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:-) i have an order waiting on the 78 fib
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fali4209 deLazyLizard
I've added shorts 3 lots
+1 Reply
oh, you're shorting? :-)
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deLazyLizard deLazyLizard
be careful shorting so low...
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fali4209 deLazyLizard
Lol I was long at the beginning made loss of 2k shorted last night profit of 4.2
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price has drastically move short...we don't know again of course. But I personally won't add shorts now.
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I entered at the pullback 0.618 but the price is moving deeper, seem the AUD is still strong
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Isve closed my shorts from 1.714 :) thank you jack
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The pric is lower than the pull back area, is it still valid?
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I would wait to enter after 786 fib
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is trade still valid. more downfall
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Hi Jack, 1.697 now... look like at the bottom of the tray. Is it good to buy now?
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1.6977 is breached definitely going to 1.6918 and 1.6845 I would close your longs
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This idea is a very nice example of how NOT to trade if you do not want to loose your account... The whole concept of trying to grab a bottom at a theoretical turning point based on whatever pattern (counter trending) is wrong, in my opinion, and this is being now felt by many of the inexperienced "traders" who jumped blindly into this trade, instead of waiting for a turning confirmation (like an impulse to the upside, a correction and then buying). Remember one thing: trading isn't about picking a top or a bottom by the pip, trading is about keeping your hard earned money safe by taking only those trades (according to a sound, well tested entry strategy with a sound money and trade management) in which there is a confirmation that it will be doing what is forecasted by a sound technical analysis.
+5 Reply
mnwind Koryphaeen
Koryphaen, you made a good point, but your approach also has challenges. When reversal happens, it is often so strong that we would miss the trade. For example, AUD/UZD, it went up straight line so far after the turn. I'm scratching my head to find a long entry. So Aggressive entry vs. confirmation each has pros and cons. How do you handle this situation for strong reversal with little pull backs or correction? Thank you!
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I actually am in the AUDNZD buy and I added to that position already 2 times at corrections. There will be a chance to enter/add to it at the correction that will follow soon. Remember, after an impulse, price action always corrects...and that is the best chance to enter into these trades. Yes, you loose that 20-30-40 pips which is the first impulse but it is a low price in comparison to the reward... and the R/R is much better if done correctly.
+1 Reply
mnwind Koryphaeen
Do you have a chart on how you enter AUD/NZD? I'm waiting for next long opportunity.
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I will post it tomorrow
+1 Reply
I am watching GBPAUD for a long entry next week, after the first impulse up and it's correction... that is the time to enter, not sooner!
+1 Reply
waterman Koryphaeen
Thanks Koryphaeen for the valuable insight !
+1 Reply
mnwind Koryphaeen
GBPAUD already had an impulse, I bought during the correction,but trend continued.

How do you tell if it is a correction for reversal or continuation?
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a correction is always for a continuation (impulse - correction - impulse in the same direction), a correction for a reversal is called an impulse, in the reverse direction, that is no longer a correction...
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mnwind Koryphaeen
Thank you Koryphaeen!!! Maybe my last question is that how do you know which impulse will reverse the trend? There can be multiple impulses against the trend. For example, GBPAUD had an up impulse 1.7027-1.7140 at Jack's Libra pattern location, but apparently this impulse didn't reverse the trend. Which kind of impulse will make you enter the trade? Thank you again!
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You never know it, unless it delivers a confirmation. I was also watching that impulse that broke out from the trend on GBPAUD but it never delivered a confirmation sign that it is going to go up after the correction, so I'm not in the buy yet. Maybe the next impulse up and it's correction will deliver the sign, but we never know until that moment.
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mnwind Koryphaeen
What is a confirmation sign? How to tell the difference between impulse and confirmation? Stronger impulse = more confirmation.
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it was a mistake to enter this trade
+1 Reply
kmk.msp irshad4u58
no one force you to enter into this trade. win and losse is a part of trading
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this is not Jacks Fault that everyone on here is following his trade hes like everyone else just providing advice on a pair.

People need to chill and learn to be patient!

GL guys i think this is now going lower i expect 69 again next week then i may look at longing :D
+1 Reply
Of course it's not Jack's fault, he only posted his own bias based on his own technical analysis and entry strategy which, I assume, he back tested and has confidence in it that it is profitable in the long run. Everybody should be responsible for their own decision if they blindly jump into a risky trade based on somebody else's bias/risky idea (because this was a risky trade setup... actually almost all counter-trend ideas are because they do not deliver confirmation of turning previously the trade is triggered), since it's about their hard earned money, not Jack's...
+1 Reply
Anyway, this idea is not dead yet, if you calculated your risk in such a manner that you have your SL (= max. 2-3% of your account) below 1.672, it is highly likely that it's going to turn before reaching that point. If not, you're account is safe because you risked only 2%, right?

You are in trouble only if you put your SL below the quadrant of turning area from Jack's chart, you risked more than 20% of your account, which is the case of many inexperienced traders etc. You might get stopped out, loose a lot of money, brake your account, throw out your monitor, enter into depression and after that watch it fly 500 pips up, throw your computer out of the window etc. ... That's the nasty part of not waiting a confirmation of turning.
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hi Mr.Jack is this pattern still valid or not? because the price has been hit the bottom tray. I have 4 buy position inside the tray...so I need to ask you this. Thank you for your kind....
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theforexscrub Hypersoft
Still valid jack just entred too early
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Thanks for your updating, Jack.
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Jack, where is your stop loss? You still keep your position after price went down 200 pips from your initial entry? Your trade may work out, but risk reward is not attractive. If you put your stop at 1.67, there would be 400 pips stop.
+1 Reply
already over -500pip
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Yes thx for the update Jack, I'm still holding too.
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dear sir jack. what about gbpuad.. this is still going down...??
+3 Reply
jpctop Qasimshahzadgt
the stop is under the base , so always open
+1 Reply
Sir are you still in the trade
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KenWei PRO tkarthi1
with -500pip
+2 Reply
are you ok?
+1 Reply
he is not, he current -500pip of holding LOL
+2 Reply
Swap is long af :0
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high are you still holding your long position ? I am still holding long positions, wanted to know should I close them or not.
If you can reply to this i will be very thankful to you.
+4 Reply
No :|
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KenWei PRO irshad4u58
if you want -500pip, keep holding
+1 Reply
RIP libra pattern
+7 Reply
ieducswesps OncleJer
:))
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KenWei PRO OncleJer
lol
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can you please update...
+1 Reply
how can he give update, currently over -500pip, close your long, dont wait for his answer
+3 Reply
it broke.. :/ this is gonna be fun.
+2 Reply
my outlook view at this pair strong bearishness based on monthly open with bearish gap
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So are you with me in this -500pip? hahaha
+4 Reply
Going up anytime now, no?
+1 Reply
OhOh You do not setup your stoploss
+2 Reply
Slow and painful!!
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What do you think now ? Still you see it up
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Hi Jack,

I see another opportunity of Perfect BAT Ratios at weekly chart. How do you think ?

snapshot
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