Hello Everyone,

To quote a character named "Basher" from one of my favorite movies, "Ocean's Eleven",…

"Hang on to your knickers chaps!"

 Last week, we've seen a meltdown in the US equities markets and a downgrade in the credit rating. A couple of European countries are now frantically scrambing to get their house in order before they begin to implode as well.

On top of that Japan has finally stepped in to sell Yen as they realize without intervention their products are becoming way too expensive to be competitive.

Anway, this week should be a bumpy ride and have extreme volatility.  Volatility is great as it allows us to get into day trades that can produce ove 100 pips.

You just need to be careful as the volatility is a double edged sword that can cut deep and fast if your on the wrong side of the trade.

For this reason make sure you use protective stops and cut your losses the minute things aren't going according to plan.

Also you must avoid at all costs trying to figure out how the markets will play out.  It is a fools game as the markets don't trade on logic and sound analysis but fear and emotions.

For this reason make to trade what you see, not whatyou hope to see!

Anyway lets get right into the forex market reversal levels.

Until next week, peace and prosperity,

Jeff Wilde