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LOL Bosley, I know what you mean. I think Hilary is trying to tell us not to look too short term. Find the trend and stick with it.

To tell the truth, Harlosh, I've not even bothered with my news plug-in today to know whether trade is thin or not. I bought the cable sell off after the trade balance and fiber as it dipped down towards 1.21 channel support on the 5 minute and then left it at that.

I might plug the news in now and see what they say.

My hourly charts are showing a very nice downtrend for cable over the last several days. The bearish resistance line was only breached this afternoon but seems to be heading back below this. Hopefully, this is just a small hiccup.

OK thanks Hilary. Here is a current state of play chart thought you might like to see.

If anyone's interested, I plugged Squawk Box in and they reckon that M&A Vodaphone rumours were responsible for the cable rally up which was stalled later on by real money sellers. Techs are looking to short it at 1.7490, but they're a great contrarian indicator, so I'd have said it's nailed on that it'll hit 1.76 at some stage tomorrow.

:o)

edit: Personally, I don't see any real resistance now until the 1.7520-17530 region.

Yes I'm very interested Hilary. Thank you.

I tweaked my rising thingies to a steeper gradient early Monday, so although 1.76 is possible, my money will be on 1.7550ish which is the top of my falling wotsit.


That's if it tops today's top ;)

Oops that was Monday's. Here it is now

Choccie: I just lurve your technical expressions "tweaked my rising thingies" and "top of my falling wotsit".

you girls make it looks so easy .......

Right, short from 7455

harlosh, 7455? if you mean 7555 then snap.

Sorry, yes indeed Bosley. Going out now. Keep an eye on it for me :-))

I still have P&F targets of 7612 and 7626 Bosley which is obviously a concern so will not hold on for grim death.

agreed harlosh. macds on the hour and 2 hour chart are still on the up. not looking for much, 530/520 will do for now.

I'm out Bosley. Not confident.

Harlosh and Bosley,

Just been checking my charts.

The hourly ones show a strong upwards movement since breaking through the bearish resistance line yesterday afternoon. It looks like heading towards 7600-20 area last visited on 2 occasions on 5th and 6th April.

The 5mins chart show a relentless upwards direction from 6.30pm 10th April. Its currently sitting on the bullish support line.

So both charts indicatiing an upwards direction. I'll probably watch out if shorting and wait to see it again if it hits 7600

blimey!! got it all totally and stupidly wrong yesterday but doing really well today. long from 490 to 560 , and then short from 555 to 530. so far so good. staying out 'til after the news at 1.30.

Well, both uptrends have been taken out by the big fall in the last 30mins

Oh that's a pain. I've been out all morning and I've not long returned to find that my fiber stop's been hit at 1.2119 while I was out, although I'm still long cable. That wasn't in the script, so I've got to think about how I'm going to play it now.

With Easter just round the corner, I'll probably just keep moving the cable trailing stop (currently at 1.7415) up and sit with it till it goes.