Forex rebates on every trade - win or lose!

Yep, went short just above 116 now closed :-)

Bed.

Ok reversed at 115.89. And that's where the stop is too.
It could well go below 114, just can't get my head around wearing more than one beanie hat at a time.

Blimey - USD running amok in the sushi bar but polishing off the beef and 2 veg. We do live in interesting times.

Had a look at the weekly and monthly charts for USD/JPY - anybody fancy 10100 as a reversal point - July 1993, January 2000 and January 2005. Makes a change from looking at the 10 minute and 1 hour.

Monthly and weekly MACDs have turned down recently - so, you never know.

Puts my attempts at going long into context :(

Still on the sidelines but the USD/JPY is tracking the DOW like it was its twin brother.

S'pose it's all down to news and sentiment this week :)

:-))))))))))))))))))

Just had a call from Miss Mel.
As of next Monday she'll be 'Something in the City'.

They didn't want to lose her with all this takeover stuff going on,
so her next big adventure in life starts on Monday.

I'm almost as excited as she is.

:-))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

Congratulations Mel - that's excellent news. Better than money :-)

Mel: Exactly what I hoped would happen. The man at the top made the smart decision. How refreshing, I'm impressed. I'm delighted for Miss Mel -- and them.

Mel, Wonderful news! Really pleased for both of you.

Congratulations Mr & Miss Mel.

Just gone long the USD?JPY from 620 - sort of "with the trend". Stop @ 600

Thanks for the congrats, guys. Dead chuffed here (as if you couldn't guess) :-)

Mrs Mel is ok again, as well, so back to the fray for me.

Mg. Ref your Yen trade, I notice that on the hourly chart it finished the last
leg down with a double bottomed 'W' shape. Your entry seems to be timed
nicely with the break of the 'W' top with your stop positioned circa that top
(it's a bit of a fuzzy top) :-) . Was your trade based on this, or was what
I'm looking at coincidental?

Mel - yes - the main reason is the crossing (nearly) of the EMA (25) with the SMA (60) on the hourly. The 600 stop is, as you suggest - at the top end of the woubldoo (W) - cos if I've got it wrong it will break back down below that.

Don't like the way the MACD looks as if it might be turning back down (19,39,9) - which could mean the trend I'm trying to teade is failing.

A true cross on the EMA/SMA, however, will confirm ..... waiting to see if that is gonna happen..... cos I'm a bit previous - as usual. [Don't tell Hils cos she'll smack my legs]

Cheers, Mg. Had a look at your MA's and see what you mean.
You're hitting it early, expecting a full cross, rather than a shy kiss
and back off again, with a tight stop to limit any damage.

I won't be smacking you anywhere, meggers, as I'm looking for a retrace back down so that I can hop on alongside you.

It still needs that slower sma to turn up yet though. The only way that's going to happen is if the price stays up above it.

Incidentally that daily USDX chart still looks ripe for a kicking despite rallying from the 83.5 lows these last few days. That kicking could come from Europe.

Ooooooooooh you little space hopper you. I'll scrunch up and make some room for you to jump on 8-O

not really my area of interest forex but anyone noticed that the pound/yen seems to be unwinding quite agressively compared with the dollar/yen.

Evening. Got a bit of time back to myself. So I've slapped the following
charts together for you before I go and watch 'Life on Mars' at 2100hrs.
No need to waffle too much. We all know what's been going on.

Miss Mel keeps ringing up. She's already stuck into the FSA course
notes that she needs cram into her head for the first Finance exam
she's expected to pass. Her boss has already told her, with a wicked
grin, that she'll be making the tea for the rest of her life if she lets him
down and fails. :-))

Hi CC.
What time frame are you looking at ref Dollar/Yen and GBP/Yen?

I'm not getting a lot of difference on this one.