Forex rebates on every trade - win or lose!

I've got a downward channel on cable formed from the 4-hour lows of 11th and 20th March and the high of 14th March.

The upper bounding line of that channel is currently at 2.0107.

Hils,

Weekly R1 at 2.0129, mid at 2.0030, which makes current price action interesting as long candle wick retreated from upper resistance. I scalped up from 1.9792 which was just above a support level I drew on my chart. Lets see what rest of day action we get. I see weekly Pivot at 1.9931

Why it's fun to be a currency trader when Merv's at the helm.

I'm short cable from 2.0064 on strong retrace back through the 50% fib level of the last major move starting from the 14 March high to the 20 March low.

Not really trading much over next couple of weeks as kids school holidays. I'll see how the cable short looks later today with a view of trying to leave it in place for quite a few days or more.

Also looking to short EUR/USD depending on how reacts today but I might miss it as will not be around to monitor things very closely.

I'm short from the top of my channel at 2.0107. Unfortunately I missed the top of the market by a couple of pips, so I'm going back to the drawing board to improve my system which is clearly flawed.

I really must try to do better next time.

:o)

Quite right Hilary, you need focus!!!!

I'm not a lover of Fords, JT, although I used to have a Capri Ghia. Couldn't reach the pedals though, so I bought a Triumph Vitesse instead.

May I ask what wheels you have these days Hils, I can guess but that may be presumptuous. Is it more dreams!

Oh nothing flash, JT. I drive a Compact Pussycat nowadays.

Puurrfect Hils, I would expect nothing less of you. You must be the envy of all your female friends!

Nice bounce off the Weekly Pivot on Cable Hils!

EUR/JPY got very close to resistance from December's high just now.
Also coincides with a 50% fib retracement jobbie off the 149 to 167+ rise

Looking at the EUR/JPY this morning, seems to have worked itself into a triangle or wedge thing or summat. Trying to make my mind up whether it's a long or a short, can't say I'm anything like sure, but I think it might be poised for an assault on the res referred to by chocolate (above post) so I'm going to go for a long with a target of 158.50 :)

Well, that's that theory stuffed, dropped out of the bottom of the triangle rather than shooting out the top, back to the drawing board :(

Managed to dig myself out of a hole by adding again further down, not really sure what's next, either with FX or the DOW, which means I don't know a lot!

EUR/JPY bounced off a FIB level during the last 20 mins or so and also pushed its nose (albeit briefly) above falling resistance. Perhaps 158.50 is still on the cards during the session?

I would be interested to know what spread you are getting on the Yen crosses.


Thanks in advance.

John, 4 pips on EUR/JPY with IG Index

Hi everybody,

Looks like we have a good Eur/Yen trade setting up. Check out the 4hr timeframe.