MESSAGE FROM JACKO 445

It is 1.00am NY time Wednesday September 9 and the market is at 1.4485

The situation has not changed much from yesterday.
The market has risen strongly to a high of 1.4535 which is enough to activate an A-H trade at 1.4451 (which is where I was stopped out). However it is a very risky trade. The market will probably retrace to the broken Resistance line at 1.4380 for confirmation of the break. So I would be selling against a new bull trend for a reward of only 70 pips (1.4451-1.4380).
On the other side, the market is too high a level at the moment to buy.
I am still on the sidelines for the present time.

Edit 3.00am NY time. Market is at 1.4485 I am still considering whether I want to risk a trade down to the broken Resistance -turned -Support line (see Email 1 below)

Edit 8.00am NY time Market is at 1.4521 The market has moved marginally higher. I am waiting for a correction (preferably back to the Resistance line at 1.4380) so that I can go long. The market is moving up but a buy at these levels has too much risk of a quick correction.

Edit12.10pm NY time Market is at 1.4565 This has been an impressive rally to 1.4600 by the Euro or, more the case, a serious fall in the USD. I am not prepared to risk a short trade against such strength at the present time. I will wait for a significant retracement and then go long

Emails

Email 1
Since we have now broken the high of Aug 5th would it not be better to assume that the trend is now up and that the potential AH trade be counter trend. Yes, that is why i am a little hesitant to trade it...I would rather wait until it comes back to the Resistance -turned -Suport line at 1.4380 and go long