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Hi Choccy...yes exactly...hard to call...dont want to be left with no long..but also felt it might be capped short term...so decided to reduce a bit...


You think brek could target 1.8950.. yes..I would probably lighten up some more at 1.8900 ish.

At least we are trending up..

Still half asleep here :-0

Thanks to Chocs, Bos et al for last night and this morning, great time.

Hope others aren't picking up the wrong signals ;-)

Not traded much this week due to other commitments.

Wished I'd taken notice of this chart though - the target of 8825 (given on Tuesday) looks spot on today if we don't see another high.

The target of 9030 is interesting

Lunchtime look in - nice smile again. Moved my stop up to just below 1.8800.

SC:

Please use the correct terminology on this thread: That'll be a fibonacci thingie or even wotsit :)

As I said before MM, I'm just the apprentice.

Beginning to get a bit paranoid about the number of things (thingies?) you correct me on :-))

so where is the exit level guys... 1.8900 1.8950

I'm yet to get in :-(

Been sat on the sidelines all week and it aint very profitable!

Exited Cable at 1.8835 up 122 and 141 pleased with that...

Stopped out for +99 this morning, had a feeling it would drift lower. Anyway, with no announcements today and half term I'll probably sit and watchy from the sidelines.

1.8750 bottom of recent up channel

Just gone long again at 1.8740, very tight stop......

edit stopped out

Check out this Ernst and Young report from yesterday's Sunday Times which suggests robust UK growth this and continuing into next year.

More short and medium term UK interest rate hikes in the pipeline expected and with none coming from across the pond, this further strengthens by opinion for cable to head in a northerly direction over the next few months.

http://www.timesonline.co.uk/newspaper/0,,2769-2415364,00.html

SC, Sorry you got stopped out.

Be careful in the future not to go against the trend on no news days. Speaking from personal past experiences.

Yes, I know it was stupid.... Thanks.

Was wondering about a short in the 860's but didn't do anything....

1.8660 might stop the rot...

Bit of TA stuff.

UBS Technical Analysis Team:

"[Cable] is set to extend its recent gains from 1.8516, Oct 11 low. The focus is on 1.8904 next. Oct 3 high with support today at 1.8663, Oct 19 low."

Nicole Elliot, Mizuho Corporate Bank:

"Once again leading the way as Cable bounces from the $1.8500 level. Today it should try and manage a sustained break above the top of the Ichimoku 'cloud'. Note that it is not overbought and that momentum has still to turn positive."

And we end the day back where I got stopped out this morning.... :-S

Anyway, it was a tight stop.

Brave ftse long anybody... at 1.8700

Early test of this low down to 1.8690 if this can hold..things might start to point upwards again.

Perhaps some inflationery data as a trigger...

Choccy Hilary... everybody in Barbados for 1/2 term with kids??

Morning Foale, I'm here for an hour or so but off shopping with the family so I won't be taking any positions today.

I'm sure you're right about a long but I can't see it in the chart yet...

unless that's a double bottom on the 1 hour chart.