MESSAGE FROM JACKO 427

It is 1.00am NY time Friday August 14 and the market is at 1.4267

My target of 1.4350 for a SELL was not hit yesterday. It rose up close, but reached a high of only 1.4326. My order is still in place but I am considering reducing the price. The last two Fridays have seen some sizable moves in the thin trading and I am considering joining the Friday forex buffet table. (It is an all-you-can-eat EUR and USD feast).

Edit 3.00am NY time Market is at 1.4265 The market has barely moved. I am hoping that it will move up closer to my 1.4350 order, so that I can sell it at a higher price than the current price. It is too low at the current price for me to sell it. I can wait for a better price.

Edit 7.55am NY time Market is at 1.4295. I am watching this market moving up. I am leaving my order at 1.4350. It has a 100 pip Fixed SL.

Edit 9.00am NY time Market at 1.4270 Damn... I wonder if I have missed it. Market has topped out at 1.4305 I was hoping for one last lunge up to 1.4350. It is a Friday and I am not sure what I want to do. As you know I don't like trading Fridays..... The SELL at 1.4350 order is still in place

Edit 10.00am NY time Market at 1.4235 The market has got away from me. It barely retraced at all on the way down too. I am cancelling my SELL at 1.4350 order. No need to SMS as you will have all day to cancel it.

Edit 12.10pm NY time Market at 1.4211 I am disappointed that I missed a good trade opportunity. But the market will still be here next week and so there will be other opportunities.

Emails

Email 1
Do you recommend just leaving up 4 hour chart during trading and not looking at lower time frames even after the trade is executed? Yes, other wise you get tempted to make silly decisions because the chart movements look so dramatic on the lower time frames and causes you to want to jump in and open/close a trade when it is just noise

Email 2
Real quick question, I can't really find the answer to it anywhere. IF we have a bull move from 1.3600 to 1.4000 our 50% fib would be 1.3800 Yes , say we pass the 50% fib and drop to 1.3700 from 1.4000 so this would make our new 50% fib retracing up at 1.3850. Yes Does the original 1.3800 50% retracement from the original move up hold any value ? Yes I use the 50% fib primaily as "targets" that the market tries to move to...I dont always use them as a place to open a trade. They are more targets to aim for AFTER you have opened a trade. I also see them as Cascading targets , so in the example above , the first target would be 1.3850, and then when it gets there I would look at the price action to see if I wanted to hold for the next target of 1.3800.