Forex rebates on every trade - win or lose!

Out at 300, and I guess your stop has now been hit, mg? Dollar has also just dropped a bit against the yen.

Maggot
Yup - think I'd better leave this alone for today - no point in giving it back - it had more than enough out of me last week. It's supposed to be my turn this week ;)

Yes - they don't play fair, do they?

Serves me right - that 5 minute trend had held for ages - instead of shorting it was an obvious long breakout. Got my shorters head on - must remember I can long as well ;(

mg. The overall trend today is down, and there was resistance at 290, so surely a short was reasonable? Not sure what you mean when you say the 5-minute trend had held for ages. Anyway, it's all over the place now...

Maggot - sorry - I'm looking at the netdania.com 5 minute chart which, as you say, was showing a lovely downtrend line from 4:00 am this morning. Every move back up was proving too much to get through the downtrending range line.

Apart, that is, from when we got that recent move - which burst through the upper trend line. It's coming back down a bit now but I have a feeling that it might be attempting to form an upward trending range from the 19200 low. If it breaks back through 19300 then that would have failed - all IMHO, of course.

Thanks, mg. I understand - roughly what I had thought. The trend downwards in gold has been so strong I wonder if the dollar is being deliberately bought by countries' banks to stop it dropping any farther. I don't understand these things, but there have been murmerings in the press, and reported speeches, suggesting that Europe, in particular, would like to see the dollar go no lower at the moment. And pundits were so certain it would continue to drop that it seems to me, from experience, that is the time when it reverses.

The market climbs a wall of worry, and when everyone says it will continue to rise, that has always been the signal to think about selling!

AUD Westpac-ACCI 4th-Qtr Industrial Trends Survey 0:00 19:00
AUD Melbourne Institute Consumer Inflation Expectations 0:00 19:00
AUD Home Loans (OCT) 0:30 19:30 -1.0% -0.6%
AUD Employment Change (NOV) 0:30 19:30 10k 43.7k
AUD Unemployment Rate (NOV) 0:30 19:30 5.4% 5.3%
AUD Participation Rate (NOV) 0:30 19:30 63.6% 63.7%
JPY Machine Orders (MoM) (OCT) 5:00 0:00 2.60% -1.90%
JPY Machine Orders YoY % (OCT) 5:00 0:00 -4.50% 5.00%
DEM Exports SA (MoM) (OCT) 7:00 2:00 0.3% 1.0%
DEM Imports SA (Mom) (OCT) 7:00 2:00 1.2% 1.5%
DEM Current Account (EURO) (OCT) 7:00 2:00 5.0B 5.1B
DEM Trade Balance (OCT) 7:00 2:00 11.0B 12.0B
EUR ECB to release Dec Monthly Report - Trichet Speaks 9:00 4:00
GBP Total New Construction Orders (OCT) 9:30 4:30 2076.0
GBP Visible Trade Balance GBP/Mn (OCT) 9:30 4:30 -4750M -4546M
GBP Trade Balance Non EU25 GBP/Mn (OCT) 9:30 4:30 -2550M -2377M
DEM Industrial Production (MoM) (OCT P) 10:00 6:00 0.30% 0.1%
DEM Industrial Production (YoY) (OCT P) 10:00 6:00 1.70% 3.8%
GBP BOE Announces Rate Decision 11:00 7:00 4.75% 4.75%
USD Import Price Index (MoM) (NOV) 12:30 8:30 0.00% 1.5%
USD Export Price Index (MoM) (NOV) 12:30 8:30 0.40% 0.7%
USD Initial Jobless Claims (DEC 4) 12:30 8:30 335k 349k
USD Continuing Claims (NOV 27) 12:30 8:30 2723k
CAD New Housing Price Index MoM (OCT) 12:30 8:30 0.3% 0.3%
USD Wholesale Inventories (OCT) 15:00 10:00 0.5% 0.5%
USD Wholesale Sales (OCT) 15:00 10:00 0.5% 0.6%
EUR ECB Vice President Papademos Speaks 22:00 17:00
CAD BoC Governor Dodge Speaks 22:00 17:00
NZD Terms of Trade Index (QoQ) (3Q) 21:45 16:45 2.1%
JPY Domestic CGPI (MoM) (NOV) 23:50 18:50 0.10% -0.10%
JPY Domestic CGPI (YoY) (NOV) 23:50 18:50 1.90% 1.90%
JPY Export Price Index (MoM) (NOV) 23:50 18:50 0.0%
JPY Export Price Index (YoY) (NOV) 23:50 18:50 4.0%
JPY Import Price Index (YoY) (NOV) 23:50 18:50 -0.8%
JPY Import Price Index (YoY) (NOV) 23:50 18:50 11.6%

Long?

Still looks long... Looking for an entry now..

My cmc cable chart is showing a straight line since 6am, so dont know what is happening. I think BOE are dead set on 5%+ interest rates so we cud see a hike today, which makes cable long??

Tellon
I reckon there's the little matter of 200 to consider before thinking about a long. It's through short term support @250 the way I read it.

Sounds like long entry below 200 is order of the day

Personally I don't think it's a long just yet, although EUR/USD and USD/CHF look like they could be on the turn.

Bob
That was what I was thinking ..... provided this little bounce doesn't develop into a rally ;(

I am going to read my shares mag and put my feet up for an hour or two. See what transpires.

Trying a long from 38

Moved the stop up to 240.. Not to confident yet..

WooHoo stop at B/E! That was a tough trade its fighting to go down..

Would have been a good 'un - shame - but stops are there for a reason ;)