Forex rebates on every trade - win or lose!

It's spot on again this morning, H. Just umming and aaghing whether to bank now as it's hovering around those two targets.

edit: Took it as I posted.

Glad it's working for you Hilary :-)

The one hour chart is really interesting Hilary. The P&F target of 7920 was set on 10th April and achieved exactly on 18th April. We now have no more upside targets but a downside of 7470. We shall see.

We actually have two independent targets of 7470 which increases the validity of the target. edit. Although in fairness the first of those has previously been achieved. It has yet to be validated though so should not be relied on just yet.

Does anyone here use livecharts.co.uk?
If so have you been getting Java general exception errors in the last few days?
I use these as detached floating indicators of FTSE Gold and Brent. If only I could figure out how to do p&f targets from them!

Sorry, not me rpaco.

H,

I haven't looked at the 1 hour P&F although I will do later. I do already have settings for my own 1 hour charts which I use for my longer term strategy which spans days and sometimes weeks.

Cable certainly seems to have strength atm, so I've got to say that I'm sceptical of further falls to the level suggested without it pushing to new multi-month highs first. Fundamentally, I think that high energy costs should weaken the Dollar going into the summer driving season and, with the round of US rate rises looking to be close to an end, I can't see any great reason to buy the greenback right now for the longer term. In addition, I'm in the small minority who think that, over the next 2 or 3 years, we're likely to see UK interest rates of 7% or 8%. With that in mind, another run in cable towards $2 may be on the cards. We'll see.

Unfortunately I got caught at lunchtime. I left for tennis this morning with a cable long having reversed my earlier short. It was my intention to either offload it or shove my stop up tight ahead of the 1:30 data. Unfortunately, I ran late and returned literally seconds before the news, only to watch helplessly as it gapped down and turned my tasty little profit into a loss before hitting my stop.

It wasn't all bad though. At least I won in 2 straight sets.

:o)

Hilary, ignore that 60 min target. It is a false one.

Well, the last two days have been somewhat diifcult to say the least! The constant whipsawing associated with a snail paced modem connection verges on the impossible. However, despite having both hands tied behind my back, I have managed to bank another 50 pips or so. Only another week to go before Broadband is available once more!

pth

Well done Pth. Better than me today. :-)

And me()! Been lurking the last week orso(took a long time to read all the posts), finding it difficult to get back into trading since my return from UK. Moving flat this wkend(hopefully got somewhere sorted for the next year, but nothings definite here) and hopefully have our internet sorted within 2 weeks. Keep it up pth, your going well. SAS on telly CIAO

Euro at top of daily channel or threatening to break out of it?
Pullback tomorrow? and then Bernake is out tomorrow night?

What on earth happened there?

Gone into orbit!

At least I was long :-))

Oops, had a freak mouse accident on Thursday and ended up short!! Have to start again now. :-(

Anyway, my chart tells me that this is the top for now (18250 ish) and should pull back from here. Target 18100. If it keeps going, who knows?

pth

Well I'm not going to go through the whole pairs' gamut here.

The ones that interest me are the Loonie (which is at 1992 lows now) the Swissie, which has broken through its little uptrend from the beginning of 2005, the Yen which is (maybe) close to breaking its little upthingie from the same period - and then there are these two:



There's no line of resistance left - well that's stating the obvious :)

My indicators ain't sayin' it - but I'm short since Friday night.
At least for a wee while :)

Harlosh,

I'd be interested in your take of the P&F chart this morning. I don't know if you had your charts open yesterday, but the feed was working throughout the day and then seemed to switch off yesterday evening and remove all of the data for the day including the high above 1.84. The historical data for yesterday is not available today and the fresh data only seems to start from midnight.

The effect of these missing columns has been to keep the price action above the rising trend line on the 1 minute since Thursday. Obviously it's going up again this morning, so it's possibly not that major an issuse but the chart would look completely different if the data were complete. Certainly, the uptrend would have been broken during the pullback yesterday pm and evening and I don't know whether or not the subsequent downtrend would have also yet been broken if you understand what I mean.

Hilary,

I was away most of yesterday but I was informed of the high you mention and was surprised that I could not see it on my chart either. Disconcerting to say the least. I'll mail them and see what they have to say.

Thanks, H. I'll be interested to learn what they say.