Forex rebates on every trade - win or lose!

Thats better the flurries of banter have returned. :-)

As I had the morning doing paperwork, I've been playing with cable - profitably this time :-) - Missed a few opportunities as well.

Looks to be rolling over to the short side on my 1 minute chart.

Choccie,

Your downward slopey has got to be different to my one. For a start, mine's a wotsit and yours is a thingie.

:o)

As I see it, cable could retrace anywhere up to around the top line at around 1.9050 of the broader channel. There certainly looks to be more mileage on the dealer chart. I'd prefer to wait until it does actually turn back down, even if it means losing a bit, rather than trying to pre-empt the top and subsequently kicking myself if it carries on going.

Not on my 1-minute it doesn't, Seymour. Looks to be going back up to retest the highs.

You need to be careful imo when the Yanks wake up. They often knock it about to sucker some inexperienced punters out and at the same time put a bit of liquidity into the market to help them get in.

OK Hils, thanks, now moving up again since I posted. No position now, waiting for the US, but probably will be too busy to look this afternoon.

A lovely trending morning this morning, made about half what I should but have been busy with other things.

Quite right, Hils - and your thingie begins with a W and mine doesn't ;)

And if cable gets back to 1.9050 then we'll be hot hot hot :o)

Snuggling, slopey thingies, slopey wotsits, all of which I understand but which pair is chunnel?

EUR/GBP ;)

We don't need it to get back to 1.9050 to be hot hot hot, Choccie.

:o)

Nothin' like a bit of extra fire though :o)

It's a Girl thing LOL

I have a target of 8614 from that news - but I daren't short it yet - do I?

Wow, this threads been active today. Keep it up people!

Major screw up with my ISP at work over the last 2 days and can only log in via 56k dial up :-(

Time to switch ISPs.

Thanks Choccie.

Still learning via mistakes on my dummy account (before I finally admit defeat and convert to covered call options & warrants, etc.!). I am told that there are 5 main "indicators" which if 4 (or ideally all 5) are effectively saying the same thing, ie to go long or short on a partcular pair, then this is the only time you should press the keypad! Is this basically what most of you do or perhaps you all have your own individual methodology, ie. some do graphs only, some use pivot points and histograms, some use MACD only, and so forth.....?

Just curious - M (novice Fx dummy trader - still!!).

Markus - Indicators do exactly what it says on the tin - they only indicate.

The most important thing IMHO is price combined with support and resistance. The indicators may then help to confirm what you see in the price.

You need to sort your own system out so you know it, understand it and trust it.

Then you'll get there in the end.

If we're doing "The Bucket", here's my lines.

Treasury bond prices rise
AFX


NEW YORK (AFX) - Treasury prices rose modestly Tuesday, boosted by weak industrial production data and record foreign buying of U.S. securities.

However, gains were clipped after a private sector housing indicator rose, breaking a string of eight straight declines.

At 5 p.m. EDT, the 10-year Treasury note was up 3/32 from Monday. Its yield, which moves in the opposite direction, fell to 4.77 percent from 4.78 percent.

The 30-year bond was up 6/32, its yield fell to 4.90 percent from 4.91 percent.

The 2-year note was unchanged, yielding 4.84 percent, which was down from 4.85 percent.

Yields on 3-month Treasury bills were 5.09 percent as the discount rose to 4.96 percent from 4.93 percent.

The National Association of Home Builders' index for sales of new, single-family homes rose one point in October to 31. The increase this month followed an unrevised reading for September of 30, the lowest monthly index in over 15 years.

The data led to a gradual unwind of the gains Treasurys had made earlier in the session, helped by weaker than expected September industrial production reading and data from the Treasury Department showing record net capital inflows into U.S. securities in August.

Michael Cloherty, head of interest rate strategy at Banc of America Securities, said the NAHB number offered fresh support to those who believe the housing slowdown will avoid being so severe that it drags the rest of the U.S. economy down with it.

'Is this a real sign of strength in the housing sector? Absolutely not, but at least the rapid descent has stopped,' Cloherty said. This is one of several recent 'glimmers in the housing market that say that the acute slide that we saw in the third quarter will moderate somewhat in the next couple of quarters.'

The Federal Reserve has held rates steady at 5.25 percent for the last two meetings, citing a slowing economy -- especially weakness in housing. Policymakers say slower growth will tame inflation over time, though officials have warned that they remain concerned about price pressures.

So US government debt is stretching to $9 trillion. To service that debt they have to sell on around $1 billion per day in new debt - and more than half of it is already piled up in foreign climes. Given that the US has little capacity to rein in its profligate spending and neither the intent nor the ability to actually pay off all that debt in dollars that are worth anything, interest rates must surely rise in order to entice investors to keep up the bidding at Treasury auctions?

Whilst the Fed still has the power to push interest rates either way, it's on a very sticky wicket: cut rates at the risk of triggering a flight from the $, push rates higher to avoid this and it hammers harder on the housing market. About 40 percent of all new jobs created in the US private sector over the last few years are related to housing.

So which is it to be? Continue to raise rates to prevent the $ from collapsing and crush the domestic economy in the process - or stop raising rates and let the lynchpin of the global economy collapse.

The consensus is that foreign owners of the big green sludge pile are generally looking to sell. We saw what happened last year at the mere hint of a sniff of a rumour of dumping.

A collapsing currency at least has the virtue of reducing the real cost of paying off all those darling little Treasury bonds - imo.