Forex rebates on every trade - win or lose!

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.

good chart on the gbp/yen. I was looking at the same timeframe as above which goes to show approximating percentages in my head doesn't work as they both show roughly the same.

Nice one, meggers :))

And congrats to F, Mels!

Not that confident - but a bit bored so just doubled up @ 630 - same stop.

Never a good reason to trade and the graphs not really giving me much to go on so probably a bad decision :(

Afternoon - short bout of illness (again) has kept me away for a couple of days.

Now long Cable 9497

And congratulations to Miss Mel, Mel :-))

Maybe I ought to place more "boredom" trades. Looks like USD/JPY is beginning to show a bit of spunk 8-D

Ooops, where's my manners - hope you're feeling better Harlosh.

Cheers Chocco and Harlosh.
Glad you're better Harlosh.

Your trade's looking good Mg. Are you trying out Dil's coin tossing strategy
with this 'boredom' trade. ;-)
If so, I assume you'll be raising your stop to lock in a profit to keep the money
management part of Dil's strategy on track.

Thanks chaps but I have them so often you'll soon get fed up of sympathising with me :-))

Picked up my third lot on that drop - now fully loaded so it had better start trending the right way. Stops for all of 'em @ 600.

Smokin', meggers :(
Bummer.
Pretty sure, though, that quite a few of your trades have been good for 50 points apiece. That's the way this baby moves.

Highly likely the furtling will carry on perhaps at least until options expiries, beginning 15th and ending with the quarterlies, on 30th. I still reckon (hope) that it won't fall too much below 114 if it doesn't find its bearings soon.

Hmmm. Didn't like the look of it myself.

Hope it ain't too bad mg.