MESSAGE FROM JACKO 432

It is 1.00am NY time Friday August 21 and the market is at 1.4215

The market has done very little in the last 24 hours. The price is the same as this time yesterday but the bias has moved to the downside. I am still letting my SOLD at 1.4235 trade play itself out.

The last couple of Fridays have seen some big moves after very subdued Mon through Thursdays. I am hoping to see a repeat of that today on the downside. As discussed yesterday, If it breaks down, it will head towards the Support line from 1.3832 (on July 8) and 1.4045 (on Aug 17) which is now at about 1.4075. The first target would be the 50% Fib from 1.4045 (Aug 17) to 1.4266 (Aug 19) which is at 1.4150.

Edit 3.00am NY time Market is at 1.4240 The market has moved up marginally. I am still content to just let this trade play itself out a little longer.

Edit 8.00am NY time. Market is at 1.4335 The market has jumped up quickly on much better than expected French and German Manufacturing PMI numbers and has hit my Stop Losses.
This is the first loss in some time so I will now wait to activate an Anti Hedge trade to re-coup my loss. I will now let the market go a minimum of 50 pips past my SL to 1.4385 and will then place an order to SELL at my original SL at 1.4335. That will ensure that when the market has risen and peaked and then begins to fall back, it picks up my trade at where I was Stopped out and continues moving back down thereby re-couping my loss. (However, I will not be placing the order today because it is a Friday....I will hold the order over until Monday).

Edit 12.15pm NY time Market is at 1.4322. The market has reached a high of only 1.4376 so A-H has not been triggered yet.