Tuesday, August 25, 2009

MESSAGE FROM JACKO 433



It is 1.00am NY time Monday August 24 and the market is at 1.4332

The market has not reached 1.4385 which is the point which would activate my short Anti-Hedge trade at 1.4335 which is where I was Stopped Out in my last trade.
However the market is back at the price where I was stopped out so I have to make a decision as to whether to get back in at the price I was Stopped out at (on the expectation that it will go down) or do I wait for the 1.4385 to be hit (on the expectation that the market may still bounce up higher. I will wait for more guidance from London.

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) , and 1.4375 (Aug 21) we can see that the Resistance line is currently at around 1.4380.
The Support line By linking up the lowest points on the 4H chart from 1.3832 (July 8) and and 1.4048 (Aug 17) we can see that the Support line is currently at 1.4100.
The 50% Fib line The nearest 50% fib is from 1.3832 (July 8) to 1.4048 (August 17) and is at 1.4200

Edit 3.00am NY time Market is at 1.4290 Late Asian trading and pre-London trade is showing weakness. I have decided to get back into the action of the last trade. As shown below, I was Stopped Out by that trade at 1.4335. I would be prepared to SELL at around that point and get back into the trade.

Edit 8.05am NY time Market is at 1.4328 I am still making up my mind as to whether I still want to sell at this price level or see if it goes up a little further closer to the Resistance line. I will send an SMS if I decide to SELL.

Edit 12.20pm NY time Market is at 1.4322 The market doesn't have any great momentum and is sticking around the 1.4325 area. I am still watching to see if it goes up a little further closer to the Resistance line. I will send an SMS if I decide to SELL.

No comments:

Post a Comment