CPO 30th July 2009

As yesterday,
Short position established @2119
cut loss at 2153 previous bar high.

results:
1 safe, 0 con, 4 losses, 3 win.

Outlook,
CPO is confirmed not uptrend yet.
lucky i put my long signal higher, else, my system will call long again.
CPO break down from rising wedge, complete wave 4.
coming wave 5 is expected to be the last wave down.

strategy,
if CPO >2180, CPO confirmed bull trend. long, cut loss at previous hourly bar low -10 points.
if CPO >2150 on hourly closing, short position covered.
if CPO 2150 < x <2100, stay out, keep holding short position
if CPO <2090, short signal, short, cut loss at 2 previous 15 min bar higher +10 points.
if CPO <2063, downtrend confirm continue, short, cut loss at previous hourly bar high + 10 points.

All the best in trading.