CPO 19th Aug 2009

As yesterday,
short position @2500 still holding.
cut loss remain @2435.

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

Outlook,
still looking bearish.
resistance at 2420, 2440.
but previous low at 2421.

strategy,
if CPO <2420, on hourly closing, rebound possible to finish. short cut loss at previous high + 10 points.
if CPO <2355, on 5 min closing, short, cut loss at 2366 + 10 points.
if CPO <2298, on 5 min closing, short, cut loss at 15min bar high + 10 points.