CPO 27th Aug 2009

As yesterday,
short position established @2392 covered at 2375. profit 17 points.
short again at 2365

Results.
1 safe, 2 con,7 losses, 7 win.
Average +138points/lot.

outlook,
CPO very choppy, only confirm wave b in B complete at 78.6% @2385
critical resistance at 2385.
expect wave C comes in
target 2298 or 2272.

strategy,
if CPO > 2385, clear all short position, stay out.
if CPO <2345, 1st support break, sell on rebound.
if CPO <2331, 2nd support break, sell on rebound.
if CPO < 2323, 3rd support break, sell on rebound.
if CPO < 2298, 4th support break, cautious for profit taking.
if CPO < 2272, 5th support break, cautious for profit taking.