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rats - closed the long & went short.

hmmmmm long or short from here???

Sue,

This move has probably got another 150-200 pips on the long side over the next 48-72 hours imo. Can't guarantee that it'll go in a straight line though.

I guess Tellon would probably concur.

Im still long from my earlier postions,

Long @ 1.7709 +61 pips
Long @ 1.7614 +156 pips

I think now is the time for a slight breather but there is more gains to be made. IMO

The short answer, Hill I concur (I think thats the spelling)

thanks guys - its a bit of a roller coater!!

and this morning the chief forex dealer from hbos
declared on bloomberg that would come under a lot more pressure today



hmmmm - if i had an acct with them i'd close it.

hilary your 60 pip trailing..is that an auto trailing stop or you manually hike it up now and again?

Promise only looking for 59 pips now on the downside from the highs
then my close and reverse should ensure the market turns back to the highs
on a weight of money arguement :-)

foale,

Automatic???? I'm a manual dinosaur.

glad you said that me too....
Well despite it going down I closed my short position
for a few miserable points when it looked like 1.7800 was breaking
though it was also showing signs of a doji formation
so decided to close..

I make lousy trading decisions in the pm as a rule
(and not much better in the am)..so flat

Dow at 9930 might be having some effect also
and Oil at $40.50

Was not expecting this much retracement

Looks like my prevoius statement was a bit understated
anyone know why so much dollar bullishness this am

Is it Dollar bullishness or just a normal healthy retracement?

warnings of it yesterday from that hbos guy,
can only think we're pricing up for .25% at end of june usa,
though seems a pretty flimsy excuse for such a strong $

some of it may be overspill effect from eastern currencies,
with slow down in asian growth, $ gets stronger, and we get
sideline effect....

just my thoughts david - don't take too much notice !

Taking out a long down here with a tight stop

I've found that, in a generally falling market (ie as over the last 30 days), base building can take a few days with retracements back to fish for some support before a strong push up.

Hilary Hope you are right but still some retracement
80 pips off the lows a few minutes ago

Does that mean you are long again given that your 60pips
(dinasour) trailing stop would have taken you out yesterday

My stop is at the lows

Yes, I'm long again albeit a bit prematurely this morning. Currently back to around my entry.

Was not so confident of this long today..added a little to it
then sold the lot at 1.7709 as it pierced the 4:30 am high
Now flat...

I'm long now on the 'higher low',
but treading very carefully, in fact
it's only a little toe !

Small long post figs....

Perhaps 2 toes in size
Not married to it

talk about market undecided...

Anyone post figures please?