Forex rebates on every trade - win or lose!

MM ,Heiken Ashi nice too see :-) someone else Master the Cloud "lost Art Samurai"

Just thought I'd post up my longer term chart to show the bigger picture.

It's currently sat near the top of my downward channel but well above the long term support line.

Evening all. Not traded today whilst we await the rate decision in 15 mins or so.

Really not sure which way this is going. The point and figure charts are pretty ambiguous too Choccy although whilst the longer trend is up there are indications of further downside from here.

I would like to see a bit of Cable strength after the news assuming it is neutral followed by a big sell off down to the 8600/25 area but what I want and what I get are often very different.

I shall wait for things to settle down anyway. Good luck if you are already in a position.

Release Date: October 25, 2006



For immediate release

The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.

Economic growth has slowed over the course of the year, partly reflecting a cooling of the housing market. Going forward, the economy seems likely to expand at a moderate pace.

Readings on core inflation have been elevated, and the high level of resource utilization has the potential to sustain inflation pressures. However, inflation pressures seem likely to moderate over time, reflecting reduced impetus from energy prices, contained inflation expectations, and the cumulative effects of monetary policy actions and other factors restraining aggregate demand.

Nonetheless, the Committee judges that some inflation risks remain. The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Susan S. Bies; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; William Poole; Kevin M. Warsh; and Janet L. Yellen. Voting against was Jeffrey M. Lacker, who preferred an increase of 25 basis points in the federal funds rate target at this meeting.

2006 Monetary policy

This ithe bit I findest hardest...not when to enter or stop out when to exit when it moves in your favour and then looks like it mght retrace..so sold 25% at the top this am.

Indeed foale. If it breaks this resistance we should see a nice run though.

and there she blows :-)

on behalf for the 75% I am still long :)

on behalf of the 25% I have left behind :(

Lining up for a try at 1.8860 highs...but what then...

Hilary ...when do you get back off hols... LOL

foale, It's currently poking it's head above the down channel on my daily chart (post no 6502).

I'd like to see confirmation of it breaking this over the next session or two. If it does then 90 can't be too far away imo.

There is a will to go higher...but is there a way..??

Decided that the fear of losing some of my gains less than that of being left behind as we head for 1.9000....

staying long..

A break through 73 should see it up to 8900 area Foale.

OK guys, wish I'd stayed in the trade from Tuesday morning - however have joined you long at 1.8869 - for the same reason as you Foale - it looks like breakout time, however fairly wide stop just in case.

In some ways a poor trade as risk / reward not great but I fancy the breakout will continue.

Harlosh, only 1.8900? 1.900 surely ;-))

Probably Seymour but I think we will see some retracement before then.

The resistance at 8900 area has been there since early October so I don't think it will be a pushover.

Hola

I presume that is where you are Hilary?

Hi Hilary, hope you're having a good week.

edit - yes Harlosh, I agree, and I'm expecting some congestion at the least so I might just take a quick gain off the table soon. Will leave it until morning, perhaps with an oco in place.

Well I was wrong there - blew 8900 away no problem :-(

let 15% go at 1.8888

Hils....come back...you been at the screen all this time ....LOL

what do I do...hold for 1.9000 or cash in chips?
1.8915-20

all gone at 1.8910...it was a good run...I added as we went up...so quite happy..

and there is always tomorrow...

Now flat...

I am mindful that... 1.8900 is the old high...and that was the main reason I am out
Well done to all those that are still long...

and where is that Choccy..