MESSAGE FROM JACKO 428

It is 1.00am NY time Monday August 17 and the market is at 1.4150

My SELL order at 1.4350 on Friday was a little too ambitious. As I said last Monday (and again on Thursday), " in the short term I can see the market moving back up to that 1.4338 area. But in the longer term, after it hits that Resistance line at 1.4338, I think this market is heading down". Unfortunately the market only rose as high as 1.4326, then headed down leaving us stranded with our pants around our ankles.

I have my charts open to 300 periods of the 4H time frame.
The Resistance line. By linking up the highest points on the 4H chart from 1.4446 (Aug 5) , 1.4413 (Aug 7 ) 1.4326 (Aug 13) and 1.4306 (Aug 14) we can see that the Resistance line is currently at around 1.4300.
The Support line By linking up the lowest points on the 4H chart from 1.3832 (July 8) and 1.4006 (July 29) and 1.4014 (July 30) and 1. 4106 (Aug 12) we can see that the Support line is currently at 1.4150.
The 50% Fib line The nearest 50% fib is from 1.3832 (July 8) to 1.4446 (August 5) and is at 1.4140
I am expecting the market to bounce up from both the Support line and the 50% retracement point at around 1.4140.. However, over the week, this market will go down. I am again looking to go short at the Resistance line at 1.4300

Edit 3.00am NY time Market is at 1.4151 The market is sitting just above the Support line and is at the 50% Fib line. I will wait for my short at 1.4300

Edit 8.00am NY time Market at 1.4055. The 30 minutes before the London open gave a deceptive signal. It rose strongly (which usually carries through into the first half of the session) but today, it reversed on the open and has been dropping all through the London session. I continue to wait for an opportunity to sell at a much higher price . The current price is too low for me. The probability of it continuing to fall in the US session is too low and too risky for me. I will wait for the inevitable rebound and then Sell it.

Edit 12.15pm NY time Market is at 1.4075 The market has been subdued in NY trading after the declines in European trading. The market is too low to sell at these prices. It is best to wait for a better price