Forex rebates on every trade - win or lose!

Well I sold at my trigger of 1.9565 but not looking to day trade looking to catch the medium / longer term trends.

Trailing 100 stop loss.

happy GBP/Yen short here but why can't I concentrate on more than one cross at a time? Plenty of volatility

Evening.
Last missive of the week to Miss M. The folk who are going to be giving
her the deciding interviews for the Investment Banks are back off their Hols,
but they haven't told her if they'll be seeing her before Xmas or not yet.
So she's holding fire in London until Friday before coming home for Xmas.
I'm more nervous than she is. You'ld think it was me going for the
position, not her! She's not bothered either way!
Yoof, eh? Doncha just love it. :-)

Great to see some more folk on here saying why they're taking positions.
I like to hear other folk's perspectives. You're always learning in this game.

Last stuff of the week below.
Now for a well earned rest. :-)

Mel:

So Miss M is in the Catherine Tate role: "Am I bovvered?"

Best of luck to her, if she's taken all the paternal tutoring in, she's well prepared.

MM

Cheers MM, she deserves a break after what she's been through the
past 5yrs.
Maybe it was being so close to death and living under its shadow every
day is what gives her the Catherine Tate attitude.
There's probably a good message there for the rest of us.

Anyway, fingers and toes crossed. :-))

Nicole Elliott, Mizuho Corporate Bank, on Cable:

"Consolidating a lot more neatly than some other currency pairs in what is very much corrective mode. It is an A, B, C-type move where C equals 61 percent of A. Cable is no longer overbought and momentum is still bullish. Ballooning open interest is a little scary. For this morning expect consolidation between $1.9500 and $1.9650."

Closed 1/3 of my position at 1.9465 , trailing stop loss on rest now moved to 1.9540.

Evening.
First missive of the week to Miss M.
I can't be bothered with Oil at the moment. When it breaks the range
I've been showing, or if we get a significant news item, then we'll
comment on it.

Being weighing stuff up, and if the data releases this week don't change
anything, I'm looking to get a long / position (as near to 0.6700 as possible),
for a longer term hold for 2007.
I'm looking for the interest rate differential to close and Sterling to weaken generally
against crosses other than the Dollar (don't know which way to call the Dollar).
Anyone else got a view on this cross?

Mel,

Sorry a bit too busy to post in detail or give detailed reasons, but:

a) Chunnel's like watching paint dry. I'd give it a wide berth personally. Cable & Sterling/Yen are where the parties are at.
b) There's a tasty falling resistance line on your Dollar Index chart passing down through the highs since mid-October. I would've thought that the World, his wife and their pet poodle are going to be spraying the damn thing all over the shop as soon as it gets within touching distance of it. That could also coincide with a break of US Crude to the topside of the range at $64.

Thanks for the reply, Hilary.
The Sterling/ Yen cross sounds interesting, especially with the sentiment
leaning towards a BOJ interest rate rise circa February and my leanings
towards Sterling topping out against crosses other than the Dollar.

I'll check it out.

I have now moved stop loss to 1.9515

Cable and fiber combine to comprise nearly 70% of the USD Index. They've both bounced heavily since yesterday afternoon and here's the USD Index chart showing the resistance line that I mentioned last night.

Note the moving average line is still pointing firmly down on that daily chart.

Thin markets, great if you are on right side of it.
GBP/Yen new recent high or to roll over?
Tight "gain locks" best philosophy

Stopped out , 1/3 100 pips gain 2/3 50 pips gain.

Have to wait for next signal now .

Dilbert,

Not sure what signals you're using and it's all too easy to be a smart Alec after the event, but when it broke through the topside of the Asian range at about 7:30am it was only ever going to go one way. In terms of oscillators, both stochs and MACD on the 1-hour charts turned up around 1am or 2am.

My $2 by Crimbo looks a bit more likely now.

Where's MM on this foggy morning?

:o)

MightyMicro - 02 Aug 2006 14:31 - 12 of 53
Hil:

Oh, and you are a harbinger of doom and gloom -- but you might be right. Except about the $2/GBP. That's been threatened several times in the last 15 years.......

Hil: Not often you see a currency ramped . . .

Maybe I should have won a prize for Ramper of the Year, instead. Eh, MM?

:o)

Hilary; I think you have won that award too often!

Errrrrrrrrrmm. I wonder who might have stood on a stage in front of a couple of hundred people and said:

"Let's take a look at a chart for Bioprogress. You should all fillyerboats. I certainly have done already."

It wasn't me on that stage. Why do the words pot, kettle and black spring to mind there, Doris?

:o)