Forex rebates on every trade - win or lose!

Hi Choccy, I was thinking that was quite enough for one week anyway. This last trade was a fairly obvious one from a fundamental point of view; can't see anything too obvious now apart from your downtrend on the hourlies which I had spotted.

Well yesterday I agreed that this was a no-brainer short down from 1.97. This morning, I'm not so convinced and have closed my short ahead of being stopped.

I'm reluctant to go long again though (basically because I got up a bit late and feel that I had missed the best opportunity between 6am and 7am) so I'm sidelined for now. The attempt at 1.97 was very feeble, so I wouldn't be surprised to see it have another shot at it today. If it goes, 1.9770 or thereabouts has got to be a first target imo.

looking for 1.9700 or if lucky 1.9750 later today....

There she blows!! 1.9708 how far do you reconn?

Well, it went and poked its head up to 1.9717, but it didn't seem to like it up there . . .

staying long here...

Yup, that's more convincing . . . onwards to 1.9750?

Nope, now back down banging around 1.9700, although it looks like having another run at it.

patience....

actually I am more concerned as to where to take profits.. in the 1.9750 area
than is it going to retrace...as I feel it may push the upper boundaries a bit today..

hmmm..reduced the size at 9752 but generally still bullish...

Flat now..at 66
lots of resistance here...
will be harder work pushing on from here in the very short term...

Wondering whether to go long from here at 1.9711, Will the cpi rebound us back to 9750+?

The poor old thing just doesn't seem to have the va va voom (technical expression) to stay up there. The consensus of the outpourings from the FX desks seems to be to treat the pullbacks as buying opportunities ready for the surge to 1.9750. After base camp is established there, it's onwards and upwards to Hil's $2 by crimbo.

Prepare for a bumpy ride.

"The consensus of the outpourings from the FX desks seems to be to treat the pullbacks as buying opportunities".......

What do they know? I'm shorting the pants off it atm.

:o)

I see my exit was an excellent short entry... 1.9600 next


every knows the proximity of $2...and the professionals are playing that for all its worth.

It used to be about $2....now its about.....which Crimbo... lol

I'll add shorting the pants off it to my lexicon of FX technical expressions.

But $2 still on the cards -- perhaps a bit before Merv the Swerve's next announcement??

I thought a lexicon was a posh Toyota.

:o)

1.9642 small long

mg reporting for duty - been fiddling about losing money this morning - on crap longs - gonna pack it in for a bit until I get my trading hat back on. I put it down to jet lag - I reckon that's the excuse that MM would give if he could remember where he was/is most days ........ and I thought I'd start my New Year off with an insult :)

Happy New Year y'all - still looking for the 50p $ in the next few weeks