What This Blog Is About

This blog is my trading journal. It contains my reasons for entering a trade and if I decide to put the trade on, my entry and exit strategy. My trade results will be recorded on my Yahoo Group site. A link to that site is provided below.
Do Not attempt to trade real money based on anything you see or read on this blog. It is intended only as a learning tool for my readers and myself.
If you are interested in learning to trade the Forex and Options markets, I encourage you to open a “demo” or “practice” account, use this account to follow my trading plans. Remember, Do Not use real money or trade in a real account based on the information in this blog.
All times given are in Hololulu Standard Time (HST) unless otherwise stated. I will sometimes use Greenwich Mean Time (GMT). To convert to your local time, click on the link below located under "World Time Zones".
New: Beginning February 25, 2007 I will edit each post and add the trade results.
If you have any questions or comments, send an email to Mrpipman@yahoo.com or use the "comments" link following each posting.

Thursday, September 4, 2008

Where Does It Go From Here

The Major Indexes continue to break short term pivotal support levels while the Technicals continue to weaken. This implies that the Market may continue down and test major support levels.

Non Farm Payroll (NFP) numbers will be released tomorrow (Friday) before the Market opens. In the past an unexpected NFP report has moved the markets. However, the long term trend remains down. This trend is currently being supported by the mid term and short term Technicals.

Remember, `a trend is considered to remain in place until price action indicates otherwise'.

Bob
Posted by at 9:39 PM

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