CPO 21th July 2009

As yesterday,
no position established

Results:
0 safe, 0 con, 2 loss, 3 win.

CPO outlook,
Bearish.
CPO manage to rebound 61.8% retracement and complete 100% projection
Short.

Strategy:
If CPO >2222 on hourly closing, long, bullish signal, cut loss at previous hourly bar low.
If CPO >2180 on hourly closing, stay out
If CPO <2150, mild bear signal. short, but cut loss fast, on previous 2 bar 15 minute high, not closing.
If CPO < 2120, short, cut loss at 2180 + 10 point
If CPO <2070, downtrend confirm, short, cut loss at previous hourly bar high.

All the best in trading.