Forex rebates on every trade - win or lose!

I'm sure that a lot of traders must have been confused by that crazy price action on Cable at 1:30 on Friday at the time of the payrolls data. I certainly was at the time.

Apparently, at the same time as the payrolls were released, the Fed sent a spokesperson out to say that the Fed weren't too bothered by inflationary effects. The better than expected payrolls number sent Cable down, but the Fed comments prompted the ensuing weakness in the Dollar. Hence the wild swing each way.

stopped out on that one -28

Just over 18380 is where I would expect support buying to start. A couple of my oscillators show that it could have further to fall though. Wouldn't be surprised to see it hang around the 18380 for a little while until they turn.

long again 183.69, although
oil just dropped below $38

I see that IanT has been on Spaceman's Concorde method FX course. Very effective.

oil over 38 again - cable up 20 !

MM,

No I use my own theory which was devised from astrology, an old bingo calling machine and a devining rod :-) I am thinking of setting up some training courses, you would be more than welcome to attend.

I am probably the biggest scalper on this thread

Today I have done 1 trade..taking 25 pips on a short Cable from 18394

I just cant see a clear direction where an 'obvoius' 40-50 pips can be taken out...While I can make a case for 'both ways' doing nought

the oil situation, coupled with thursdays
interest rate thoughts have given rise to
some indecision......

i think .25% is about 85% certain, .5% =10%, no change = 5%

I caught up on the threads on another FX board over the weekend. Seems there are a few experienced players who aren't happy with the current price action and are staying out of the market waiting for a break till it sorts itself out.

Short below 280, long over 500 seems to be the concensus.

Hilary; You forgot to close the table so I have put it in for you

Oh no you've not, Mike.

:o)

:-)

Daisy and Doris: cut out the dirty talk, this is serious thread.

Short Cable

Decision time for Cable...
any higher and a successful challenge of the highs on the cards
then quickly onto 1:8500+

or decide that is too much..and back to 18370 then 18320

anyway believe that its going to go soon one way or the other

up, david...

Well I'm experimenting with a change in strategy while we're in this sideways market. It'll probably involve more trades for fewer pips at a time but I've got a living to make and I need to move with the times.

Only time will tell how the strategy pans out, but I'm long from 7am.

Well Hilary its worked for me..
I am long also after getting stopped out of my short...

Come on FX...I moved over my efforts to you
because equities were getting so boring...
dont try and impersonate that market..


...perhaps just in time to get long