Forex rebates on every trade - win or lose!

1. They're still buying
2. They're supposedly using leverage to extend their Euro purchasing power
3. There's rumour of the bar being raised to 1.25
4. There's a falling resistance line going back to 2009 which is currently around 1.2530 and the gnomes are buying below it

Swiss central bank may be intervening via FX options and SNB May Have Sold 10-11 Billion Francs for Euros, Banks Say

How are you your majesty :-) Are you playing VOD with me again?

Hils - what's up with your Diesel Coffee Machine!

Posted this on the FTSE thread, might as well post it here as well.

For anyone interested in FX, Cable pierced a resistance downtrend this evening (a trend established between August and October).

It's dropped back below by a few pips, but the chart set up, higher highs, lower lows, consolidation within an uptrend since Oct 26 and pushing through resistance (albeit briefly) would suggest the pair is about to push on. Initial target 1.66

Health warning: I struggle to get my TA right with FX so please DYOR etc etc.

Edit: I should also add that perhaps the wary will wait for 1.6150 to be breached with some impetus before taking a long position.

PT - thanks for the observation.

No worries Skinny; not sure it isn't going to break through down the support trend line established since Nov 3rd, having not made any progress overnight.

FX never seems to follow TA in the same way shares do, which is what I guess makes it so difficult to trade.

Edit: Oh, what a surprise, it's broken down instead!

I can just about guarantee if I ever post any TA on FX I am invariably proven wrong. Seems we're back in the sideways trading range between 15850 and 16150 and there is always the possiblity of a break below the support level. The problem with trying to second guess breakouts, sometimes it goes a little awry :-(

:-)

In an attempt to find some comfort in today's carnage, Cable has made a double bum on the 30 min and 1 hour timeframe charts. As I type a 'W' formation is feasible which would take the markets back up with it.

However, my recent performance would suggest everything will tank further. Feel free to use my thoughts as a contrarian indicator!

Yesterday was fun. I started long Fiber very early on, lost a small amount, then was short most of the day which more than made up for it, started today short Fiber, made a small amount early doors but couldn't / haven't bring myself to go long (yet!).

We must be due a bit of a rebound, and talk is that Berlusconi might go on Sunday which should cause a slight bounce. Very wary atm.

ttt

How has this thread found it's way into the Investor's Room?
Hiltops will be very Cross

Oo-er, so it has. I don't know if Hil intended it should restricted to the pay-per-view, as she calls it. I'm sure she'll let us know.

THIS THREAD WAS NEVER, EVER INTENDED FOR THE FREEVIEW!!!

No sense of humour Hil, not our fault Chelsea got stuffed by the scousers AGAIN ! :O)

:-)

We appear to be back on the pay per view only.

How much do I owe?

Hiltops

This thread has some very useful historical comment, it would also be helpful if you would reinstate the diary, please :-)

ttt

NB Anyone else discovered www.mellyforex.com ?

Loads of automated trading expert adviser reviews on there with live demo account tests, and shows some excellent and some truly terrible EAs!

Hiltops - are you going to reinstate the header?