Forex rebates on every trade - win or lose!

I've just switched over to my 5-min chart to see what it looked like and have noticed an old falling resistance line which had been off the chart until now as the price action was way above it if you understand what I mean.

Strangely enough the line was at 1.8750ish when the price action hit it and rebounded. It'll be interesting to see what happens on the retest.

Corrr. I like this Photobucket thingie. It's so quick'n'easy.

off for a game of tennis, catch you later or tomorrow. Wouldn't surprise me to see your target hit later,Harlosh

Cable managed to touch 8746 on my chart just 12 above my target of 8734 so pleased with that and getting more impressed with them the more I use them.

To be on the safe side I put a limit on to take profit at 8760 so managed +60 from my short.

What an excellent week this has been. :-))

8734 touched Harlosh. Brilliant. I take my hat off to you. (Reveals bald head)

Hat on now.

Cable looking weaker this morning as expecting good NFP's of the back of better than expected newly unemployed Sept figs released yesterday.

Ace trading Harlosh - watch out for the MoTU feeling :)

Grabbed a few from the fall - not as many as was available. Currently flat but looking at the 60 minute chart - if the current level is breached I reckon there's 100 points down to the next level of resistance.

I'll try that bucket thingie.

I'm not so sure that I understand where all of the bullish Dollar sentiment is coming from. It's almost nailed on that the MPC and ECB will up rates again before the year end and it wouldn't surprise me to see those NFP's disappoint this afternoon.

I've a feeling that this current downleg is just a precursor to a major assault on 1.9050.

Well, it's bounced nicely off that resistance line. Challenge is - does it reverse off the top of the current channel ceiling or just keep on going?

Will be watching until mid-day - 'cos I'm sad like that

Now we've got a shadow MPC, it seems to me that someone should keep an eye on them as well. After all, Quis custodiet ipsos custodes?

So, I'd like to propose that we have a MoneyAM shadow shadow MPC (MAMPC for sort).

Membership would probably be more fluid and less formal, and we should avoid tokenism. (No more boys' clubs, eh, Choccie?)

So I propose that we co-opt both Hilary and Chocolat (although Hilary may be a token Hawk).

Any volunteers? It should be fun. On my trips to the US, I could try setting up a shadow FOMC as well . . .

Not so sure I could cope with all those shadows, MM.

1.8778 looks to be an immediate obstacle. If that goes, I'd say 1.8830's look to be on the cards. I guess it's all going to be on the NFP's.

Not sure if I could take in any more fluid than my current capacity.

But I'd like to volunteer meggers then as an upstanding member of this board.
He's usually at his best when he's upright.

Chocers
Can only manage upright once a year :)

Must be the falling down liquid then :)

Sticking with this for now.



With you on the 1.8830s Hils.
But there's also a chance of 1.8680-1.87 imo.

Has someone caught a whiff of the NFPs?

Is that a dental condition?

Choccie,

The problem that I've got with the down-leg from 1.89 this week is that it started from what I considered at the time to be too low a level. My stochastics indicator on my houlies was pointing to further gains when it sold. Maybe it was because it overcooked on Monday or maybe because they realised that there wasn't any hope of a rate rise this month despite the rhetoric. Maybe both. Who knows?

That said, I'm looking for a quick recapture of the Monday highs before it pushes on up towards 1.9050. That 1.8830ish level now looks to be critical, imo.

It will be from today lol

Good call the long ones - I dithered around 8760 - not sure whether to have a go around 8830 (short) - but off to Golf soon so probably not a good idea to trade blind.

Better go off and do my chores - got a luvverly french maid's outfit that I'm just dying to try :)

Gertcha.

:o)))))