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amazing...all thisa action in FX and no posts...

test

testing.

Foale,

I caught the down move yesterday, but I closed out late yesterday of my own volition and I've been out of the market today as I've had other things to do.

As I see it, the downtrend from yesterday is still intact even after the US data. My strategy now is to draw a falling resistance line between the high of yesterday and the high of today and then to buy the break. Will it break in afternoon US trade or overnight Asian trade? Who knows? I'm in 2 minds whether or not to leave a limit buy or simply to wait and see in the morning. The holiday on Monday is a bit of an intangible too.

As for the news itself, it lessens the likelihood of an imminent rise in US rates and with a likely rise from the MPC next week we should see some upside over the coming days from Cable, imo.

Tellon,

That strategy is too much for me to get my head around atm. I'll look at it though.

Hil,

I think its a clever way to enter new trades in different volatility

Foale,

I was short as you know (From my previous post) so got wipped out at 13:30. -75pips. I tightened my stop loss right before data came out just incase (was 167)

Went to the dentist after that, I dont think its worth going long so just waiting for the dust to settle. IMO 4.1 was a good GDP. Higher than bush administartion expected and not to big a jump. Nice longterm sustanable growth. That leads to inflation and intrest rate rises. Personaly I thought it was a reason to buy the dollar.

No entry till 9am for me tomorrow. As for asia I think its a 3day holiday? so there should be quite low volume overnight.

I got caught out ofter the figures yesterday
Was not expecting Cable to be so strong...
Gave away the mornings gains

Tellon you might be right re yesterdays figures
and this ams price action maybe the market reassessing
yesterday afternoons move

That line of yours Hilary starting to look like resistance is holding
and dollar bulls reasserting themselves...

As usual Fridays figures awaited with trepidation

Morning guys,

I suspect that it'll move up to have another crack at that line and push cleanly through it in the near future.

Morning All...

Hil,

You refering to Resistance or Support line?

small long here, I only sb
may add if feel appropriate?

Hi Tellon,

I was referring to the falling resistance line taking out the highs of Wednesday and Thursday.

Its a Tense morning

morning all
long cable 176.97

Morning Beeble,

Ive been Short, Long, Short Scalped 24 pips. Couldnt make its mind up.

Currently long @ 703

I'm taking a medium term view on this long tellon,
chances of rate rise here next week is c.65%
whereas chances of usa rate rise has diminished after yesterdays figs.
my target is 179,00ish by next thursday.........
however !

Im out.. lost all my hard scalping work..

Im gunna sit on my hands for a while

tellon :~)

happy sitting on the long here for reasons outlined by Beeblebrox above.
UK rate rise likely?
Imminent US rate rise diminished.

Can anyone please advise where I can get a live cable price (GBP/USD) feed.
I have had one at Saxobank but my trial has run out and I cannot open a full trading account with them. Foc is best of course but otherwise as little as possible. I an trading Covered warrants with Comdirect and the 15min delayed price from them is not viable for live day tradng.
cheers

www.dailyfx.com choose charts there price is realtime.

I prefer Net Dania

hello rpaco;
i use cmc.com, but of course you would need to open an acct.