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Yes, impossible. I closed out at 210.08 to give +42pips on recent & +197pips on yesterdays half. Just not confident here. Think we'll just range for the time being.

I expect consumer sentiment to be dire too. However, if it surprises, then its just another selling opportunity at a higher price.

Added to short at 210.5 st 212 tp 209.5 Futures have rallied since yesterday, fueling speculation that the carry-trade will come back into fashion. Obviously, i think the markets might have a snap rally, but i expect it to be short-lived. The nature of a bear-market is short the opens...

Dreadful UK retail figs of -0.5 m/m. Will keep the trend short and pressure on the £. Needs to get under 209.4 for continued follow-through.

Thanks Mack. 210 will go. Its just the £ is strengthening vs other crosses at the moment. If I was an Asian fx trader. I would sh*t myself at what happened in the previous session, and get out before I got crushed by Godzilla.

Took half at 210.05 +200pips. Holding my other half. Stop on entry. Obviously a lot of stops on the 210 level, which gave a bounce off.

Presume you mean you paid 4800, to win 10,000? Interesting developments today: No interim rate cut. Market is factoring in a 50bps cut,but mkts tank. FED say "no inflation" Cant really see a catalyst for equity markets, or the carry trades as a proxy to rise. Their will be a...

Atticus. How much does the option cost, and what is the payoff?

I posted early that there was a disconnect between equity mkts and the carry trades. But sooner or later the carries will reaffirm the relationship & the correlation will be better. Unless, of course, the equity mkts put in lows today. My stop is on entry now, for protection.

Good post. It really is a battleground. I still feel it will go southwards. Seems a triple top so far. Making it a big barrier to go through. Short 212.05 st 212.7 tp 210.05 if this doesnt work out i'm flat for the rest of the week.

Anyone care to comment on the GBP/JPY disconnect to the equity mkts?

I think Oanda are ok to start out. Give them a try.

Wow dreadful philly fed. GJ lost 100pips. staying out for now. Dont want to sell a low.

He's bound to hint/do it. I think the mkt will go up either way.

Bernanke speaks in 30mins. Rate cut?

So if it breaks 212. Where will you get long?

I got out at 210.60 for - 35pips, didnt want to risk another 170pip pummelling post news time. I couldnt believed the rally from p*ss poor housing stats. So i got out fast. Flat now. Wouldnt be surprised to see 213-214 today if this is sustained. Need big stops in this one.

210.25 short tp 208.5 st 212. Mr bigfrank you still long?

Well it looks the trend will be down for the day, I will be looking to sell rallies.

You'll never be filled though. You'll get a "price has moved" message.