Sorry, I misunderstood the use of English in your pre-edited post - not being critical as I know English is not the first language for many on here.

Yes, well done on the call you made. I hope you made good money from your position. Good trade.

__________________
When the facts change, I change my mind. What do you do, sir?

John Maynard Keynes

Well, I'm not an economist, nor do I pretend to know much about Forex trading and charts. Being a humble mechanical engineer, I believe in one philosophy where trading is concerned. Quantum Mechanics and Chaos Theory

Look for a sharp rebound.

Yes I did get a little bit... unfortunately, I entered too soon short on EURUSD and was stuck in that trade for a while until things reversed after Geithner's speech. However, I am up $6 today so far and that is about 15% of my account, so I am happy.

I hope you got most of that run under your belt.

Bryan

Yes, I would think there will at least be some kind of retrace soon... maybe not "sharp" but a retrace nonetheless. I am looking for a long entry right around 1.4500 or so, as all charts 60 min. and faster show oversold RSI.

Edit: In fact, I just went long one micro lot at 1.4520... whee! Stop is 1.4508.

Edit again: Stopped out... back in long again at 1.4488. Let's try again... stop at 1.4460.

Oi again: Holy cow, what a rout. Stopped out. 500 pips down in 24 hours!

Jokes Time for strategy change?!

Every serviceman in Canada pleads allegiance to the queen. Same queen that colonized the 1/4 world, same queen that killed countless innocent people, same queen that enslaved 1/3 africa, same queen that set up drug wars in China, same queen that funded war of Japan against Russia and then later nuked Japan...

And you're right, we still pledge allegiance to mother (read murder) queen. And we still participate in nato, biggest organized crime syndicate in the world, and we still partake in afghanistan killings and opium grow up. And every fire fighter, every policeman, every lawyer etc. they all pledge allegiance to the queen. What can I say, best way to look at it is to look the other way.

hehe... no, I'm doing fine. I'm up 10% today. Going for 20% if I can...

Edit: OK, I started the day with $40 and I have $47 now. Time to stop. That's a lovely gain.

I made 80GBP since I bought 5000 pounds using canadian dollars, and then trading it back a few days ago. I got 17 dollars of it back into Canadian for my time, but kept 80GBP of my profits into pounds.

I noticed that 2007 edition of the F Series of the British Pound has a queen that is much more youthful than our Canadian $20 dollar bill. Given that the 20.00 bill was printed around the same time as the F series of the Pound sterling, it makes me wonder why the Canada would give the real life look of Her Majesty, while the Bank of England would portray her best years look.

I would hate to see England join the Euro, and wish it very much if the Pound Sterling, rather than the Euro would become the reserve currency of the world, rather than the United States dollar. I also wish if the United States of America were to take over Canada, that we rejoin Britain instead.

My family lineage traces back to the United Empire Loyalists, and we never wanted to separate from England. We will never become a republic, and would be happy to be part of the United Kingdom. (I don't know about the Asians in Canada if they would be happy with this in British Columbia, but being Anglo descent, I would love to see that happen than the USA making us join them for the Amero).

My Cass line goes back to the 1640s in America, and this line split during the Rev War, some loyalists and some rebels. The loyalists settled in Quebec and Gaspe mostly, and the rebels stayed in the U.S. of course. I still have Cass cousins to this day in Canada and one is a UEL near Toronto. He even does Rev War re-enactments with the King's Loyal Rangers (?) or Butler's Rangers. Fascinating stuff!

By the way, I would say that the French were one up on you as far as settling Canada. I've just finished reading "Champlain's Dream" about the European settlement of the St. Lawrence valley and Quebec. Another fascinating story!

Nice one, Bryan. Keep compounding those gains....

I closed out my short trade and took profits off the table, purely because I am heavily short equities at the moment and holding my Cable position overnight leaves me with a larger short market exposure than I am comfortable rolling.

Also, I am hesitant to be in sterling trade prior to Mervyn King's address and the release of the quarterly inflation report at 930GMT. Let's see what today brings in terms of new opportunities, after the market has absorbed his words. If he signals that the current rate cycle is not complete, implying that ZIRP and QE measures are just around the corner, then we could see some real pressure on Cable, with a re-test of 1.35 a real possibility in the coming days.

I am still seeing equity markets wanting to test the November lows, which will likely be very bearish for Cable (providing its current correlation with equities/risk continues). It will be interesting to see if 800 on S&P500 is tested in the coming sessions.

Paul

__________________
When the facts change, I change my mind. What do you do, sir?

John Maynard Keynes

The Queen done all this in the past 80 years? Not bad for an octogenerian, eh? And I heard that she is such a pleasant lady. It just shows, you never can tell what goes on behind closed doors....

Seriously, you should travel more, outside of Canada. Come visit England some day, spend time in our capital. London is a cosmopolitan, diverse and a truly international city - a place where tourists and immigrants from every part of the world are drawn to in huge numbers every single day. You will see that it is an exciting and global city, one that is a million miles away from the vision of the evil empire that is in your head. It's a great place to visit.

You, as an individual, shouldn't harbour such hatred towards other nations. It's not healthy for someone so young. Through travelling and experiencing other cultures, you will realise there are far more things that unite us as people than divide us.

I have been lucky enough to visit your country once and found it to be a beautiful and welcoming place. Hopefully, I'll get to return some point soon.

Anyway, I don't want to hog more space than is necessary and have fx-liono pouncing all over me again (I can hear the distant echo of his growl). So it's back to forex and the markets...

__________________
When the facts change, I change my mind. What do you do, sir?

John Maynard Keynes

History reveals a lot of details about England's conquest across the world much of which ultimately results in gunfire. And even in modern history barbaric approach prevails. The military drive off of the Palestinians and subsequent sale of the land for the establishment of so called Israel, this is all at the hands of England and hence the queen and all part of recent history. And what this resulted in, as well all know, is the endless war in Palestine which even runs today. The question becomes, what good has the queen ever done in this world? The only good thing I am aware of is the return of Hong Kong to China. All else I believe was done to generate harm to humanity one way or another.

Anyhow, I do travel a lot and I do see a lot of Englishmen around. Many prefer to settle in BC for all the rivers, mountains and nature that it has to offer. One day I may visit England, who knows

BC is where I visited, as I said a beautiful place.

As I also said, travel more, please open up your mind to new ideas and a more balanced outlook, come to England, where in London you'll find immigrants from every corner of the former Commonwealth and beyond, pretty much living in a peaceful co-existence.

For the most part, it's a brilliant place. The UK welcomes more immigrants than the rest of Europe. Indeed, I am from a family, who came to London in the early 1960's in search of a brighter future and a life away from poverty. I remain grateful to the UK, on behalf of my mother and father, for the open society and many opportunities it afforded my family upon their arrival.

For the record, the Queen is a mere figurehead and does not ever exert any political inteference. Furthermore, there are parts of the UK's history that I deplore and other parts that make me very proud. It is a country with a deep, rich and complex history, but that's the same with all countries, particularly those from the old world.

You mention the terrible situation in the Middle East, but there is another very complex issue, despite the desire of many to see it in simplistic terms. Anyway, here is not the place to discuss such matters, which are never black or white. Any debate could rage on, back and forth, with no resolution or agreement ever reached.

So, what's your intra-day view on Cable, following Mervyn King's address?

__________________
When the facts change, I change my mind. What do you do, sir?

John Maynard Keynes

Good for you... good trading. I'm still just scalping pennies (pence?) out of each move with my little microlot, but it's fun to learn. I've been using the Parabolic SAR to show me when to enter trades and it's working pretty well so far. Enter short a couple bars after the SAR switches to long, and vice versa.

It looks like the King speech was bad for the GBPUSD, as it dropped 200 pips following. It has recovered 100 pips since then and is now drifting back down. I think I will scalp only on the short side for this pair today.

Bryan

Edit: I made 20% today again! I'm tired of trading... I think I'll stop for a while today.

It will jump now to that range .

Good luck