Forex rebates on every trade - win or lose!

Cable :

All those positions snapped up around 2.0550 on that successful test...providing a nice buffer..

Losing count how many times euro/yen has bounced off 161.65 in the last few hours, 'bout time it gave up the fight.

Also watching euro yen here pth, making money on it but looking for a move one way or the other...

Keeping a close eye on the DOW now SC.

For info I have been drawing lines on longer term charts and there are 3 different levels of support at 161.50 which is why I think it's struggling to break down. It will come I'm sure, but out for now and looking for a possible entry further up.

Seymour,

I'm expecting EUR/JPY to continue unwinding southwards until the dottie line hits zero on H1.

Watching those Dottie lines Hils, mostly short positions this afty.

Short again at 161.62 fingers crossed :)

DOW looking a bit too sprightly for my liking at the moment, it's going to have a go at 13400 or even perhaps higher, hope not :S

paulson trying to talk up the dollar at the mo

What was I just saying about timing a position? Jeez got this one wrong after having got it right all day. Still think it's a short which is why I added at 91. Also seems everytime I post what I'm doing I end up looking like a berk, think I'll keep quiet from now and keep my trades to myself!!

did we make more posts than the traders thread ?

pth,

Do keep posting your trades.

Fwiw, I'm expecting the next move up on the 1-minute to stall below 162.04 followed by a move down towards the 161.46 low. I also expect it to gain support somewhere above this level as it's starting to look like the downleg from Friday is running out of steam on the 1-hour and I'm anticipating a decent move up overnight and tomorrow.

They're just my thoughts and I would stress that I won't be trading what I think. That's to say I'll be waiting for hard evidence of a turn first before entering the market.

I had a short at a similar level and stopped it for a small loss, Have been busy but I was wondering whether we might be looking to move back up but was busy for the last 2 hours so couldn't watch :-(

Overall positive for the day which is nice.

Hils,

Thank you for the advice, have been looking at why I thought 62 was a good idea and I must admit I can't see it now. I was watching the DOW at the time which was falling off, of course it smartly recovered and next time I won't be influenced by any one single factor, basically I was trying to second guess the market, der :(

I also have a line drawn on my chart at the .04 level, which for this move is pretty key, goes through here and 162.55 is a distinct possibility. Fortunately it seems to be running out of steam now.

eur jpy 1 hr chart looks positive to me, although we could have a fall back as 1 min (edit and 5 min) chart looking a bit overbought.

I still reckon that we'll see the dottie line hit zero on the H1, Seymour.

Also have a Fib retracement level just above 162.04 at 162.10

Sorry to keep banging on about the DOW, but it's pretty clsoely correlated with the Euro/Yen at the moment (IMO). It's having a bloody good go at getting through Friday's high as I type.

weekly pivot point around 162 level

i wondered if there are any views on usdjpy right now.

It's clearly falling on a downtrend line from 110.40 to 109.68 where it is now.

109.68ish appears to be the 38% fib value for the bottom on the 27th to the top on the 1st. There is also some congestion and possible support around here from the 29th.

The 1 minute looks like it could be heading for the zero line on the macd and the 5 minute has turned already.

I don't think the 1 hour looks very clever at all though for a long.


I am principly staying out cos if this level doesn't hold I don't see any decent place to put a stop at all for 100 pts and that's too many for me



edit : as I complete this the 1 minute has indeed passed through the zero line but it ain't pulled it up.

I'm glad i've written this down - I am definitely going to stay out and find a better trade but I wondered if anyone else had an opinion.