MESSAGE FROM JACKO 425

It is 1.00am NY time Wednesday August 12 and the market is at 1.4147

My buy at 1.4140 is still in place and I am letting the trade play itself out. Having said that, the market has been remarkably sluggish since my buy and has been doing very little.

The big news is that there is an FOMC Statement today at 2.15pm NY time. As discussed previously, the FOMC Statement and he NFP announcements are the two biggest "news" market movers. Subject to where the market is during the US morning session, I may close my trade and sit out the FOMC announcement.

Edit 3.00am NY time Market at 1.4120 The market has moved down 20 pips below my buy price. Thats not where I like it to be but I am still prepared to let the trade play itself out.

Edit 8.00am NY time The market is at 1.4150 . This trade is really making me work for my money at the moment. It has cracked through the 1.4100 line but quickly bounced back up. I will be looking to possibly exit this trade before the FOMC statement

Edit 12.10pm NY time The market is at 1.4240. The market has moved up and we are now 100 pips in profit. I have moved my SL to Break Even. The initial target is still the Resistance line at 1.4338 (rounded down to 1.4300).

Edit 1.55pm NY time The market at 1.4222. I have decided that I will close the trade prior to FOMC Statement. (I was tempted to play with the markets money, but decided against it). I have just closed the trade at 1.4222 for an 82 pip profit

Emails

Email 1
what is your normal timeframe preference trading EUR? I have been trading off the 4H charts since the beginning of this year . The huge increase in the volatility late last year made longer (Daily) term trading more difficult, so we pulled our time frame in to 4H to be more responsive. And, we also became much more selective in our trades. Also, because we moved our trading time frame in to only 4H charts, the "trends" that we are trading change much more quickly