Forex rebates on every trade - win or lose!

Yep - I'm a busy 'un - not just cars at Longbridge - I've even fixed Hull and Wolverhampton up with mini-Casinos (apparently) Z:)

On the Super-Casino front - Manchester was a Big Big surprise - there's gonna be a few people in Blackpool with a lot of egg (or is it ice cream) on their faces - even day-trippers to Skeggie, Scarborough, Torquay and Great Yarmouth get something to do after their donkey rides. Anyone want a big-dipper - going cheap?

As for cable - I'm still in there - not as clever as choccie the shorting genius - but I have to have some limitations !!!

mg (TF)

Hells bells Choccy - that's an awful lot of lines for one chart ;-)

I got stopped out of my long position +12 - was up about +70 at one point. I tend to set a fairly tight trailing stop loss so I get to breakeven asap as I never know when I'm going to get a chance to look in. Did the business this morning.

Back in again long now from 631 - not the cleverest of entries but looking for the couple of hundred pointers these days so in the overall scheme of things it's not too bad.

I'm not sure that it's a long again yet, Seymour.

That's cos I'm in my awful lot of lines period, SC.
Not clever at all, meggers - just short, apparently :)

Waiting to see if my rising support line will hold it as it did yesterday, currently around 1.9580.

harlosh, you let me know when and i'll be there ;)

Looks like Hils and choccy calling it right...and down she goes
a 1.9600 break should accelerate things to the downside
back to the 29th lows at least.

7:15pm FOMC key..

Stopped out, you were right Hils. Thanks for the thoughts.

Well done the "gals" - should have taken profits yesterday. Ended up with a bit - only a bit - of profit. Lost out on, net, about 200 points - stupid boy :(

Anyway - day jobbing again so no positions for me today - it'll have to be next week now.

closed short now at 40 area..happy with that for now

Seymour,

I can see why you went long last night and there's not necessarily anything wrong in what you did, but ..........

As well as Chocopop's Magic MACDTM, I also use a couple of moving averages and a stochastics oscillator and am therefore very wary when just one of the indicators points to a turn which was the case last night. Whilst you'd seen a ma crossover of the 10-minute MACD, the MACD was still below the zero line and the ma's were still heading down and not showing any sign of a turn. That prompted my post as I was personally looking for something a bit more bullish.

The 4-hour chart was also pointing to further downside and a retest of the rising support from the January lows.

I've never spoken to Ruth, so don't know exactly what settings she uses, but I've noticed from her posts that she refers to her favourite triple signal. I would hazard a guess that her signals are along the lines of my pointers above ie MACD, stochs and ma's.

Unfortunately, if there was a magic formula for making money from the markets every monkey on the planet would be doing it. That will never be the case.

Keep at it because I'm 100% confident that you're nearly there.

The other point is that the rally to the high yesterday morning has meant that a nice falling resistance line can now be drawn down from the high of 23rd Jan. I suggest that line would make not only a good short stop loss, but a point at which to reverse.

I'd already put that line in Monday night, a parallel high preemptive guess to the lows of this current descent. So now it's back to rising support from the 1.85 level, which just about brings us to 1.95.

Just wondering what Harlosh makes of 1.94 now?

Wot! No magic formula! I'm off then.......

Thanks Hils, I must admit I feel I'm nearly there.

Still only small positions but at least I'm keeping my head above water now rather than losing money. I had noticed the falling res line as well. Still a bit more work to do on the other indicators though. Thanks :-)

Hilary your last 2 posts show us why this thread won the "thread of the year award"....

And I thought it was only because of the piccies of my legs, D.

:o)

they are a close 2nd.... lol

just gone long at 1.9485 off the support from 1.8500 this is 4th touch.
..had to whip out my 8 hour chart for that...

you guys are much much cleverer than i, so your thoughts please ......

on the basis that US GDP looks to be growing faster than anticipated, it follows that US interest rates are certainly less likely to fall.

however, do you now feel that 1.95 is about as strong as $ will get - i.e. it's a pretty good level at which to short (hedge in my case)?

It is for now, cynic ;)

Stopped out at 1.95 :)
Nice one, foale :)

shame i did not follow my own gut feel at 1.95 ...... trouble is i have even less of an understanding of forex than i do shares ...... our biz always has surplus $ - i.e. we always have to sell some to meet or commitments - so would not really be gambling, merely hedging.

i suspect that after this initial flurry of strength in $, that the longer term downward trend will be resumed, and certainly would not be surprised to see 2.00 breached before year end, and perhaps even as low as 2.05+