Alright. I just cut my position in half. Why. Look at the attached chart.
 
on the 1hr we are at the first level where selling will set in.  you see those 2 green bars.  Those buyers have been losing sleep shitting all over themselves just hoping price will come back to them so they can do what?  Yeah no doubt they are selling here.
 
See, thats why that level is resistance, not just because their happens to be a 1hr resistance line there. Thats why the up pop is pausing a little bit. In order for the market to continue up these sellers have to be cleared out.
 
Now, look at the 4hr chart I've attached.  The bar with the green arrow is where selleing will begin.  Don't be fooled because it is a red bar.  The tail/shadow represents buyers. If they werent buyers price could not have risen from the low of the bar up to where it close.
 
Then when we get into the real body of green bars selling will start in earnest.  This is where I will exit the other half of my position.  Can you see how by taking profit on half my position I am in a risk free trade up to next resistance, since I have already booked some profit?
 
Well, as I'm writing we're already there and I'm out of all my positions at the first level of selling.  Everyone is foaming at the mouth now an the late comers are piling in.  Look at the mfi bar.  Almost time to fade the herd. When that happens you know it's time to get out.  Then to boot, this level is at 4hr 3 bar resistance.
 
So, if I stay in any longer it is based on greed... Do you hear me...
 
Okay, I'm done with you for today and I'm a little tired now.
 
One love...
 
Jerry
 


--- On Fri, 11/13/09, jerry Stewart <jerryjstew@yahoo.com> wrote:

From: jerry Stewart <jerryjstew@yahoo.com>
Subject: Re: EUR/USD
To: "jerry Stewart" <jerryjstew@yahoo.com>
Date: Friday, November 13, 2009, 4:39 PM

Okay...You see who ran up last hr's bar don't you...?  It's an operator's world and we're just squirrels trying to find some nuts!!! 
 
Now DO...YOU..BE...LIEVE...
 
Now, I was in at 4865 and I'm still in cause I saw the head fake a mile away.  Don't believe me.  I'm Jerry picking, I mean cherry picking?
 
Here is the email I sent to one of your co students.  Note the time.  It was 9:25 am. my yahoo mail shows 6 hrs ahead of real time for some reason.
 
To add.  Where are my indicators. You don;t see the on my chart do you?  It's like I keep tellin you. They are for confirmation and to help you recognize market structure.
 
So, I will remain long cause we have with the last bar, break back in of broken support and also a breakout and also a bullish reversal bar.
 
I'm not trying to bragg here but only to show you that I really am your friend and so you can tell your buddies on the forums that you don't need their advice cause you already got a good friend who cares enough about you to fight with you..
Now look at the range bar.  It's a footstep bar. ( see yesterday's video archive from your newsletter).
 
Okay gotta go.  Peace and love to you and your family for the weekend.  Now go study your referance material during the weekend so you can put it back on me with some sweet trash talking revenge when I mess up.
 
 
 
 

RE: EUR/USD

Friday, November 13, 2009 3:25 PM
From:
Add sender to Contacts
To:
"sun shadow"
 
I'm in there to as a gamble play.  Depending upon how heavy your position is.  But with your experience I would get out at break even and get back in on a new long signal.
 
Cheers Solar Man
 
Jerry

--- On Fri, 11/13/09, sun shadow

From: sun shadow Subject: RE: EUR/USD
To: "Jerry Stewart" <jerryjstew@yahoo.com>
Date: Friday, November 13, 2009, 3:13 PM

Hi Jerry,
 
I am in a net long position with average price at 1.4868
Do you think I should get out now or should I wait for price to break even.
Appreciate your advice as I am in a terrible state of mind now. 
 
regards,
Solaris