CPO 17th Aug 2009

As yesterday,
short position established @2500. cut loss at 2521 + 10 points.

Results.
1 safe, 1 con,7 losses, 4 win.
Average - 3 points/lot.

Outlook,
there are 3 possibility in this CPO trading.
1st, now is wave 2 ,correction from 1964 - 2521.
- support 2390, 2300 2250.

2nd, now is wave 5 of wave c.
- target still at 1930.

3rd, now is pure bear trend. but i think it's not likely.
if it's bear trend, now should be wave 5. but it already cross with wave 1 low.

strategy,
closing at 2441
if CPO >2480, short position covered. but still aiming to short if can't break above 2520.
if CPO <2424, wave 3 or wave C is confirmed. stop will move to 2440 to 2450, depend on situation, decision on candlesticks.

if CPO <2390, 1st levels meet. cautious. scare might stop here.