Forex rebates on every trade - win or lose!

zarif,

The Euro and the Cable are both forming higher lows and highs on the 5 minute chart, although there is resistance to a downtrend at just below 18400 on the 20 day chart. Any move upwards over the next 2 or 3 days will likely see resistance selling there.

I can't see the Fed increasing rates tonight, so they should both go up. Long stops on a move below 17939 (Cable) and 12209 (Euro) being the last lows as a precaution.

Thanks Hilary:
long cable atm.
Will adjust stops as suggested.

rgds
zarif

zarif,

If those stops are a little too far off the current price, may I suggest that you wait until you get confirmation of the fresh low (which you should get ahead of the Fed), and then adjust your stop loss to a move below that new low?

Once the low is in place, you should also be able to connect the low from today with the low from yesterday to form a support line to the uptrend. You will then be able to use that as a rising stop loss, staying long in the trade until the line is broken.

Brilliant advise Hilary -many thanks again.

Waiting for greenspan to start talking in 13mins.

zarif,

The Euro low certainly looks to be in place ...... I had hoped that the Cable might go a bit lower though, so I'm hoping that the low is indeed in place. I've adjusted my stops and have left a series of limit orders to add to the positions if they rise.

I won't be hanging around waiting for the Fed ...... I'll just let the system work automatically. It removes all emotion that way.

Hil Cable went up like a rocket and am locking profits in atm.

thanks
ps: u r right having to decide when to "hold and Fold" trades.Your system certainly would eliminate the Emotion element.

rgds

short cable 181.69

Beeblebrox -good shot on the short cable - i managed to get in at 181.59 and got out at 181.12. It was a quick one to say the least.

tks zarif - going to run mine for a while,
need the 'fix' !

closed 180.99

Well done Bblbx:
I took another short cable 181.49 and closed at 181.15.
then took long Dow and is in credit atm.

rgdd
zarif

This could be a BIG down move!!

morning doll,

pray tell me why ?

woz it coz you got out of bed the wrong side ?

Beebs,

The stronger trend is the intact downtrend which has been in place now for over 20 days. The up legs within that downtrend have so far been good for around 300 pips, but this last 3/4 day up leg hasn't produced anything like that. The rising support line of the up leg was easily taken this morning and it's already moved to form a lower low than the Tuesday low.

Currently finding support around the 18080 level. Forex News suggest next support to be around 18020 and 17975 below that. Friday support is around the 17900 level so that should also be key.

Actually, I couldn't care less whether it goes up or down so long as it goes somewhere. The lack of volatility over the last few days hasn't been good for my system which works best on firm trends lasting several days.

you'll be dissapointed to know that
i agree with you..........

wots this, harmony on the forex thread !

might just wait a bit for a better entry though

Damn!!!!!! I'll reverse then.

:o)

Morning, FXers. Just watching . . .

silly girl, you're the guru,
it us lot have to follow you,



hmmmm....just blow in my ear would you,

hey, near my 'better' entry now,
whoose a clever boy then

morning mm

now if the yanks had made an
announcement like that, 9-0,
cable would have moved at least 100 points,



we get the stodge (nice word that, must use it more)