Thursday, September 3, 2009

MESSAGE FROM JACKO 440


It is 1.00am NY time Wednesday September 2 and the market is at 1.4214

I finally closed out 1.4365 short trade from Friday for a 115 pip profit. The market dropped to the 50% line as expected but I was happy to close out of that trade...it had gone over the weekend and I had missed an opportunity to close it yesterday. So I just wanted to close it and clear the decks so we can go again.
In the last two months I have earned 758 pips..not too bad...but Mrs Jackson says I can do better.
The market is now hanging around the 50% Fib line. The fact that it is hanging around is a good indicator that it is going to continue down to the Support line. However, I am in no rush to jump back in just yet. Lets see what London does.

Edit 3.10am NY time Market is at 1.4221. I am seriously hoping that London will take the market up so we can slap it on the head again at 1.4300+ ...LOL... I am looking for an opportunity to SELL but at a much better price than where it is.

Edit 8.00am NY time Market is at 1.4218 The market is continuing to hang around the 50% Fib line of 1.4225. There is the ADP Non Farm Payroll coming out at 8.15am. The ADP version of the NFP is not as accurate or as well respected as Bureau of Labor Statistics NFP released this Friday. However, it is a reason for the market to get all excited over nothing and the brokers to play games with spreads and Stop Losses. So if you are not in a trade at the moment, I would wait until after 9.00am NY time. I am staying out for the present time

Edit 9.45am NY time Market at 1.4212 Market moved only about 30 pips lower after ADP NFP numbers and the 1.4200 area is holding.... I think we may get an opportunity to SELL at a much higher price later.

Edit 12.10pm NY time Market is at 1.4246 The market has moved up to the 1.4250 area. The market is tryng to head back up to the Resistance line so I will wait up there and then SELL it again. I am not sure that it will get all the way up to the Resistance line at 1.4380. This bull is slowly dying and may not have the strength to get past 1.4350

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