Forex rebates on every trade - win or lose!

Nah - that's Cointreau with a touch of Guinness ;)

Harlosh
Your wife is right, of course, problem is that we don't have any mates ;(

I could play Golf with my imaginary mate - who is an ace trader and always wants to play Golf - but he tells me he's busy - so I'll have to finish the bathroom chore - he said he'd help me with that - bloody creep.

Any way, came in to have a look at the charts and I've decided to go short based on the 60minute MACD @ 18530 (19,39,9). Could be a fake but if it completes the turn-over there are a good few points.

Stops (and plugs) in place whilst I'm bathrooming.

Looking in again
The premature evaluation could have proved useful - MACD 60 (my settings) now seems to have nicely crossed. Providing it's not a fake I think I'll leave my positions open for a while.

Still labouring in the bathroom - not a pleasant place to be in this heat - but I've invented a new technique - the naked plumber - not a pretty sight but it could catch on - or has it been done before in one of those naughty 70s movies ????

mg (do yer want me to fix yer pipes missus??)

Bloody hell mg, far too much information!

Joined you earlier in a little short, reversed during the pause for 1 pip!! Reversed again, waiting to see what happens next.

pth

pth
Don't give me that - I know what you cheeky offshore types are like. I'm videoing the whole thing - do you want a copy to share with yer mates when the nights get long and you're away from home ????

Bubbling away nicely I see - cable that is - nothing else, of course - except the perspiration ......... ooooooh .......... covered in sweat as well ...........

Looking forward to a long cold drink when I'm finished - all froffy and icy :)

mg lol :-)
easy tiger, fink I'll keep the video myself and put it on EBAY, bound to be lots of interest...........................err.....not :-))
Mind you, the bathroom makeover is bound to be popular!!

LOL MM. It's the way I type 'em! ;-)))

My limits @ 18400 triggered to give me +120 and +130 from the Friday positions. I was very naughty and let them roll over the weekend. But it was nice to be able to keep my eye in on a DIY day followed by a day-job day.

Need another clear day or two with good signals when I can have a sensible watching/trading day.

Very pleased with myself - nearly disciplined trading - after a long lay off :)

Well done mg. Fortune favours the brave eh? :-)

Dollar up against most major currencies
AFX


NEW YORK (AFX) - The dollar rose Thursday against most major currencies even after a closely watched gauge of U.S. economic activity slipped in May and unemployment increased.

The euro bought $1.2582 in afternoon New York trading, down from $1.2660 late Wednesday in New York. The British pound also sank to $1.8281 on Thursday from $1.8447.

The dollar rose against the Japanese currency, climbing to 116.08 yen from 114.87.

The Conference Board reported that its Index of Leading Economic Indicators fell 0.6 percent to 137.9 in May, which was in line with analyst expectations. The decline was the third in six months and the lowest reading since October.

The index is watched closely because it's designed to predict economic activity three to six months in the future.

The Labor Department also reported Thursday that 308,000 people filed for jobless benefits last week, a bigger-than-expected rise of 11,000 from the previous week.

'It's kind of a confusing market we have here. The market is more willing to trade off of technicals than fundamentals,' said Michael Woolfolk, a senior currency strategist at the Bank of New York.

Woolfolk said the markets are looking ahead to the Federal Reserve's policy meeting next week for guidance on future interest rate movement. The markets are already pricing in another quarter-point increase next week with another quarter-point hike to follow some time this year.

To stave off inflation, the central bank has raised rates 16 consecutive times since June 2004, which has helped to boost the dollar. Higher interest rates bolster a currency by increasing the return on some investments.

In other trading, the dollar bought 1.2424 Swiss francs, up from 1.2334 late Wednesday, and 1.1179 Canadian dollars, up from 1.1088.

Nice to see you're keeping your hand in, mg ;)

Has anyone reading this thread had any success using Updata P&F for Forex Targets?

8150 seems to have worked pretty well today JT - Because of Cable's volatility I tend to use them as a rough guide rather than rely on them too much but they are often spot on.

Thank you Harlosh. Useful feedback. Do u find the best results on the 60min timeframe? Meanwhile I will upgrade my Updata system. Thanks again. BTW I note the $/Yen has filled the London gap/

Tend to trust the 60 min targets more JT but they do work on smaller time frames. I haven't done any serious testing as yet though - it's hard enough calling the direction let alone how far it is going :-)

Keep in touch on the thread though - be interested in how you get on.

Managed to catch a few points (+70) from a short position taken out last Friday and closed last night.

Got a chance to watch a bit today but looks - at the moment - if it's a paint drying day with no clear indication from the MACD 60 - potential fireworks later on - but don't want to get caught either way.

In theory a big day for the $ with the FOMC decision at 18:15 but not a good idea to guess - despite rumours that it might be a 0.5% hike .......

Anyone in any positions?

Well, what would I have given to have been long @ 18100 :)

Nothing like a FOMC statement to put the cat among the pigeons !!

Nearly did it - but didn't have the bottle -shame...... may take a look in the morning - could be some points to make on a sensible "friend of the trend" trade

trend change?
using a bit of parabolic SAR on especially $/Yen to try and stay in the trades with the trend, place trailing stops on most recently added bits of overall trade and find suitable spots to add (readd) to position. Maybe post Fukui and any rate rise in the east it will go to 105?

Oooooooooh that was nice - took a couple of long positions earlier at 314 and 310 - and was beginning to sweat - I can now go off for a game of Golf feeling all smug and contented :)

Even more smug and contented. Limits triggered whilst playing Golf for +150 points from each of my positions. Now flat until I get some more time to watch.