MESSAGE FROM JACKO 442

It is 1.00am NY time Friday September 4 and the market is at 1.4260

I was a SELLER at 1.4300 or higher yesterday, and I was hoping for a quick retracement to the 1.4320 -1.4330 area, but it never got there.
I am hoping to get set today, even though it is a Friday and a Non Farm Payroll day. The NonFarm Payroll numbers are one of the top market movers and the anouncement usually causes swings of around 150 pips so we have to be careful.
I am still a SELLER at 1.4300 or Higher so be ready for the SMS

Edit 3.00am NY time Market is at 1.4286 The market is heading back up slowly towards the Resistance area of 1.4350-1.4380. I am not in a rush to jump into this market (it is a Friday and it is a whippy NFP day) but I am keen to grab a short at a high price. I may even take the trade just 10 minutes before the NFP announcement
I "think" that today's NFP may be the catalyst to finally change the market sentiment to a short position...but I could be wwwrrroonng

Edit 7.00am NY time Market is at 1.4266 The market is subdued at the moment because of the impending NFP announcement. It is going to be Fast and Furious at 8.30am NY time (but VERY dangerous for novices..If you are a novice trader, stay out.....There will be plenty more opportunities later when you are more knowledgeable)
My strategy is that I am looking to place a SELL order at 1.4350 which is hopefully an extreme of any initial UP moves from the NFP announcement. I will have a 100 pip Fixed Stop Loss. I may not get filled if it does not react upwards...that is a risk I am prepared to accept. If my order doesn't get filled, then I am not concerned (To place a SELL order lower than 1.4350 has the potential to be quickly spiked out by the sudden move.... I am only interested in being on the extreme top end of the Range)

Edit 8.03am NY time Market is at 1.4260. I have just placed my orders to SELL at 1.4350. They have a 100 pip fixed Stop Loss (SMSes being sent now)

Edit 12.20pm NY time Market is at 1.4309 The market has bottomed out at 1.4190 and is now moving up strongly on very thin volume based on the report that Mr Roubini has predicted that the USD will crash. I am still hopeful that our orders get filled.

Emails

Email 1
I managed to go short yesterday at 1.4340 so currently looking at 75 pips profit. I have a target of 1.4200 which is about 40 or so pips above support. How does that sound to you? We are going into an NFP announcement so you should either cash out now and sit on the sidelines OR risk your profit in the hope of getting a much bigger profit (because I think it is going down). The NFP has the potential to send it 100 pips both up and down from where it is at the time of the announcement

Email 2
Well, you mentioned in your blog that when the market is ranging at the 50% Fib line, it is a good indicator that it will continue its way which is down. Yes the 50% fib line doesn't have the strength of a trend line
What makes the market to continue to go its way when it is ranging at the 50% Fib line? Traders don't believe in the 50% line as much compared to the belief in a Trend line...so it becomes self perpetuating that it is not as strong. But IF it does bounce up off a 50% Fib, you can be reasonable certain it is going back to the Resistance line

Email 3
Gold has broken out rather convincingly to the upside and is looking very strong which tends to indicate possible USD weakness. No...it is China.... In the last 12 months they have stockpiled enough copper and Iron ore and other base minerals to last them for te next 15 years of manufacturing... Now they are moving on to precious metals...They are buying up everything they can to spread their risk on the USD...but China will still maintain the USD strength
There are still several levels of resistance overhead that are yet to be breached, however this upward movement is reason I believe to be cautious about a stronger USD. It could be signalling that there is more upside for the EURUSD. Hmmm...I am not sure
If you have time to provide your thoughts on gold and what might be going on there I would be most grateful. I don't look that much at gold..I prefer to watch what the biggest elephant in the Forex room is doing