Forex rebates on every trade - win or lose!

sleep tight beeble:)

Holy Moly!

Was caught short $

Managed to reverse (but not til half way thru the move), now reversed back to short to play the overreaction.

8160 looks like the test level at the moment, after last coupld of days losses I will stay out ;-)

Looking back at the chart retrospectively, that rise up pre-FOMC last night must have sucked a lot of people in. If you strip that short-lived rise out of the 5-day chart, I think the picture looks a lot clearer.

Unfortunately, I was also long ahead of the FOMC. It was my intention to tighten my stops in the preceeding minutes and also to short the EUR/USD cross with a tight stop. That way, if there were a spike, I would hopefully capture the best part of it. Sadly, I was caught the wrong side of a bottle of Chablis and consequently gave back half of my days profits before being stopped out of my long.

Never mind.

would someone else like to try out my 10.00.theory today
please, as i've not got the balls......

LONDON (AFX) - The dollar was off highs in midday trade as the dust settled
on the FOMC's subtle change in tone at yesterday's US rate verdict, dealers
said.
Marc Chandler, chief currency strategist at HSBC Bank USA, said the short
covering that helped the dollar higher in the wake of the FOMC statement "has
provided Asian and European participants a better selling opportunity."
Euro-dollar was back above 1.25 usd and there is good demand for the single
currency from real money accounts.

cable beggining to look interesting - bottom should be c.180.30
will look at going long if we get there

Anyone trying the 10 o'clock theory. Looks a possibility!

Beebs,

If you ignore the pre-FOMC rally, you can draw a nice falling resistance line picking out the highs of Wednesday, Thursday and Friday. It sold on resistance at that line this morning and is now off 100 pips or so.

It's now oversold and could either carry on down or rally at any time. An obvious stop if you're short (as I currently am) is to draw a resistance line down through the tops of the 5 minute candlesticks from today's high and cover on a break of that line.

thanks hilary for that,
lending figs quite positive i thought,
so will be having a go at the 10.00,
which did work yesterday, but only very small movement

good luck hodgins - i'll post when i'm in

long @ 69 - too soon
stop @ 179.95

stop moved to 180.30

Nice call Beebs.

tks hilary - i'm speechless !

stop moved to entry

added some more @ 180.96

hmmmmm, over confident there

Beebs,

The EUR/USD cross seems to be providing the general market direction atm and the trade is in the Cable because of the increased volatilty.

Watch the because it's currently moving up to 3-day resistance and could give a clue as to direction for the next few hours.

much appreciated hils, XXX
- at least one lots in profit

bit of resistance here (181.10), but still got theory intact,
10.00 180.62
10.30 180.88
11.00 181.08