Forex rebates on every trade - win or lose!

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)

Hils , just using some moving averages for entry and a stop loss strategy . Only time will tell if it works but posted entry / exits and stop losses for all to see as soon as I could.

Glad I didn't listen to that BPRG ramper , who was it ?

:-)

Oh and if I had an opinion on GBP/USD it would be that its going to $2.00+ but I will only trade when preset requirements kick in.

Sorry to be so vague but you'll all be paying me for this system this time next year :-)

Dilbert,

MA crossovers are good for direction, but you also, imo, need some oscillators too. Chocopop's Magic MACDTM settings are good as are stochastics. It's then a case of getting direction from a slow chart and timing your entries and exits from a fast chart.

And the BPRG ramper. Not sure of his name, but he was speaking in the Bugle Club at the time. Have you heard of it?

I try and keep it simple Hils , don't understand most oscillators.

The Bugle club may not be as imaginary as some people think but me being a member is :-)

UBS Technical Analysis Team on Cable this morning said:

"Facing increasing risks of further downside towards next support at $1.9342, 50 percent retracement of the $1.8835-1.9849 rise. At this point, a break above the Dec. 13 high of $1.9730 is needed to mark an end to the recent decline"

Are they perhaps members of the Bugle Club too? Does that mean $2 by Crimbo?

Daisy: Think it might have been that fiver you paid me to say those words:-)

Daisy, Doris, Dilbert? Looks like interbreeding to me :-)

I think Cable direction may become a bit more clearer in the next 24-48 hours ..than in the last 2 weeks....

SC; Notice all the 'pet' names start with D, must be all the same Dad or is it some secret rampers club:-)

Hubby says cable has peaked - dunno why - something about the eurozone.