Forex rebates on every trade - win or lose!

H&S broken out - target 526.

This might take a while.

Well I'm teetering now - I don't know why I only closed half at 1.7503 earlier. But at least I got the shepherd's pie in while some were snoring.

Some good trading on here today you guys and girls, looks like cable just swinging round the pivot point 1.7494.

Cloud - I get the pivots by email every day - to be honest I dont even open it. Just interested in support, resistance, volatility and candles. But I know some swear by pivots - if it works for you, go do it!

Hi G...... I always plot them on the chart as the pivot is more often than not a price magnet, gives me some idea where price wants to go, but still experimenting.
Been buisy this week and not got round to giving you a bell, you around in the morning?

No. Have meetings in Bristol tomorrow.

Should be about Fri though.

Gausie, I presume it was the cable chart you wanted.

Still technically in downtrend though currently a bull rally in a bear market. The rally has just given a double top buy signal which would indicate further short term strength. Now I have it on good authority that forex traders like horizontal support and resistance lines which means there may be no resistance until 1.7850 level. If however, the red bearish resistance line does figure (and I haven't been studying forex charts long enough to know) then resistance may come in at 1.7700.

The very interesting thing is that the last projected target given is that 1.7850 level I mentioned above. The two numbers are independent of each other which provides added weight to that figure.

The overall trend is most definately down though and any longs at this time would of course be against that trend.

I'll watch with interest anyway.

Thanks Harlosh - but where's the wireless chart?

It's Thursday which means Question Time.

Harlosh,

Can you access faster P & F Forex charts eg 1 hour, 5 minute, etc?

Gause,

Do you mind me asking how much you pay round turn on your contracts?

Hilary,

Not right now but I will be trialling a real time system. Perhaps next week.

It will be interesting to see what it shows, Harlosh. I'm still not pretending that I understand what all the noughts and crosses mean though.

:o)

I's easy hilary. Blue crosses mean the price is rising. Red noughts mean the price is falling.

I can just about understand that, H, but it's all the other bits and bobs that go with it together with how to implement it into a successful trading strategy that I don't understand.

For instance, I can see that we're currently in this longer term downtrend, so do you only trade it short entering the market when the first red nought appears? If you did that, then you'd miss all the blue crosses and I'd like to catch them.

hilary........Hi.
To give you some idea of cost,i pay 3.50 a round turn for BPH6 with IB and thats a standard price for all.

Thanks Cloudbase. That doesn't seem much. Is it for a 62.5k contract?

edit: Possibly not. The 62.5k contract is 6BH6.

Its for the futures contract trading on globex tick size .0001 with a tick value of $6.25. Initial margin requirement is $1755. Spread usually 1 tick.
I'll post a link to the rate card when i can find it.

Here it is...http://www.interactivebrokers.com/en/accounts/fees/commissionFutures-FOPs.php?ib_entity=llc
edit.
Sorry don't know how to post an active link

http://http://www.interactivebrokers.com/en/accounts/fees/commissionFutures-FOPs.php?ib_entity=llc

Mega Bucks........Many thanks, knew someone would come to my rescue.