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Small box P&F chart giving a target of 1.739 Hilary. Not too far away from you.

Harlosh,

It's my guess that the lead on this move is going to come from Fiber.

My chart is showing 3 possible supports. The first is at this current level of around 1.2200 and it needs to break down through that first. The next is currently at around 1.2140, but it's rising and will probably be around 10 or 20 pips higher by the time the price action gets there. The final line represents major support at around 1.2080, but that is also rising. It would be an ideal world if it hit that level and I'm not holding my breath.

Just thought I'd post an update of my first forex trade which was a short on cable 2 days ago.

Well, the good bit is that I closed it later in the afternoon for a profit of +57 pips. But it sure wasn't an easy profit by all means. More like one hell of a white knuckle ride. I must have went through at least 3 rounds of agony and ectasy of seeing big losses turning into big profits and reversing again. In the end, I just banked up as soon as I reached a decent level again.

After all that I see Hilary and Harlosh posting up targets of 1.7330 to 1.7350.

Looks like I got out way too soon....Arghhhhhhhhh!

bakko: To quote our Hilary "He who dares, Rodney, he who dares" ;-)

Looks like we're playing off the same dots :)

Hey Bak - sounds like a normal Betfair day ;)

Harlosh - 1.739?

Choccie...Thanks for the cable chart.

Not quite the same as betfair. The ectasy is similar but the agony is positively faecal!

EUR/USD = "Fiber"
USD/JPY = "Gopher"
EUR/GBP = "Chunnel"
GBP/CHF = "Geppy"

:-)))

Thanks Hilary for your thoughts on Fiber above.

Thanks Hilary for your thoughts on Fiber above.

Harlosh.....Thanks for the petnames.

Harlosh -- actually, I thought Geppy was the nickname for GBP/JPY but WDIK . ..

I've just copied and pasted from a website MM. Other than that I am unable to confirm otherwise. :-)

;)

Thanks Choc.

MM's right though - I've heard GBP/JPY referred to as geppy.
If in doubt, say Sterling/Swiss and Sterling/Yen.
I do :)

I thought that Geppy was GBP/CHF but, as I don't trade it, they can call it what they like as far as I'm concerned.

:o)

There's supposedly half a yard of 1.2200 EUR puts rolling off at 3pm. If it is going to fall lower, I can't see it falling too far till after then.

Btw, is it me or has am become horrendously slow recently? I keep having to log in as well.

I thought it was just me Hils.

Hils/Choc - me too, its like they've re-set the time out to an hour or something, bloody annoying!