MESSAGE FROM JACKO 420

It is 1.00am NY time Wednesday August 5 and the market is at 1.4406

The market continues to be excruciatingly dull. It has only moved 30 pips ( plus or minus ) from 1.4400 since Monday lunchtime NY time. This is when inexperienced traders get sucked into a trade out of boredom and frustration.

Edit 3.00am NY time Market at 1.4376 I am still keen to go long at around the Round number of 1.4300 but will be watching when it gets there to see if I can get a slightly better price. The Resistance line of 1.4338 has now become a Support line. But, in case you think I have been doing nothing, I have not been lazy while I wait for my target price. I have been busy checking the accounts with the Funds auditors at the end of another successful and profitable quarter.

Edit 8.00am NY time Market is at 1.4417 Market has stayed within the very tight (30 pips plus or minus) range around 1.4400 again in the London session. I am still looking for a retracement back to the Resistance (turned Support) line at 1.4338 or, hopefully, down to the Round number of 1.4300 before considering going long. It is a dull and frustrating market at the moment. But I still believe it will get down to that level for "confirmation" of the break of the resistance line

Edit 12.10pm NY time Market at 1.4385 The market has been as low as 1.4354 but I believe that it will go lower in the US afternoon session. I am confident that my 1.4300 target will be hit soon.

Emails

Email 1
I wanted to know if there's some basic knowledge about different sessions characteristics what to pay attention to and how the market can react to it, especially if one would like to make intraday trades. The market often (that is , more than 50% of the time) will reverse the direction of the previous timezone about 30 minutes before the start of the London session, the NY session and (to a lesser degree ) the post lunch NY session...It doesn't happen every day, but it happens enough for it to be a viable intraday strategy