Forex rebates on every trade - win or lose!

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.

Hilary,

Cable has just managed to claw its way back above the 5min bullish support line so it's back in its uptrend after that big drop earlier

I've raised my stop considerably now to 1.7465, bakko, and I intend to raise it by about 3 pips an hour from now on which locks me in a bit of profit.

Every cloud has a silver lining imo, and if I get stopped today it means that I won't have to work tomorrow.

edit: I've also shorted that fiber rally just now and I've got my stop on that to breakeven already, so I'm reasonably well protected.

Cable is presently fighting with my 5min support line but fallen below again.

Hilary,

I've not got any positions at the moment. Not really looked at fiber as preferring to concentrate on cable before venturing out to other currencies. I'm just trying to get my teeth into reading the charts correctly and spotting the trends so I hope that you've understood my TA ramblings. I was hoping that cable would get near 7600 for a short but that never materialised.