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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.

Well, my P&F charts picked out the reversal around 7565 hence my decision to short at 7555. Just didn't quite have the confidence to stick with it and having to go out I closed rather than place a stop.

Very disappointing but another lesson learned.

Well done Bosley if you are still in.

Well well well. Just checked my CMC positions page to find I had only closed 1 of my 3 short so still running 2 since 7555. :-))

Closed the remaining 2 last night.

and long from 7530.

Harlosh,

Your trade is looking good. Just thought I'll give you a charting update.

The 5min chart of yesterday was on a downtrend from the highs of the day but broke through the bearish resistance line late afternoon.

My hourlys still show an uptrend. Yesterday evening showed it sitting on the bullish support line. Was it ready for a bounce to continue an upleg of the main uptrend.

Looks like it has and it could be good towards 7600 territory. Keep a stop loss around the 7480-90 in case it goes belly up.

Good luck for trade!

Morning all,

Positions open at the moment.
gdp/us never touches 1.795 nor 1.68
........ never touches 1.795 nor 1.69
........ never touches 1.789
........ never touches 1.698
.........never touches 1.701
..........never touches 1.785 nor1.7
..........never touches 1.725
..........never touches 1.778
..........never touches 1.715
Time duration all from 10-18 days

Mega...

Interesting Mega.

Mega

Any chance of making it touch 1.7600 today?

Its not moving a lot at the moment !!!

It's doing fine for me ;)
Short again 1.7559
1.7561 came straight off my down slopey thingie

Think you're right Choccy. I'm flat now

Thanks for your message Harlosh - you didn't give me your addy?
Don't think your internal thingie's working

Choccie:

So to "tweaked my rising thingies" and "top of my falling wotsit", we must now add "your internal thingie" to the chocolat technical lexicon :)