On the daily with the standard RSI settings (14 day). A break below 70 is a very reliable indication that a big fall is coming, but it sometimes takes a few days to develop. Look to sell the peaks.

Cable Update (GBPUSD)

The smart players buy at the bottom and sell at the top. Any rally from now on is just the "idiot rally" that comes before the fall. The real question is when do we start selling? One way is to try to guess a top (e.g. $2 to the £) but a safer way ...

Cable Update (GBPUSD)

There's no point reading anything in to price action as this time of the day. Let's wait to see what London thinks of your Fib level. On the Monday London open the price usually hits both sides of the Asian range before breaking one way or the other.

Cable Update (GBPUSD)

The higher it climbs the harder it falls.

Cable Update (GBPUSD)

GBP/USD is an accident waiting to happen, especially with Trichet and NFP coming up.

Cable Update (GBPUSD)

The higher it climbs the harder it falls. There will be a USD comeback at some stage.

What's your opinion on USD? Recession?

That was one of the most predictable moves you'll ever see. Good stuff.

Boe Inflation Report

I just tested out AutoTrader - very nice indeed and free. Works well with IdealPro.

Interactive Brokers - experiences and opinions

The big mover today will be the 1030 (UK time) Inflation Report and press conference. The Bank of England website has a webcast so keep your eyes glued. It only happens once every 3 months and is a big market mover.

GBPUSD

Ninja Trader doesn't work with IdealPro, only futures.

Interactive Brokers - experiences and opinions

...of course you can, you just might not get it right. The technicals and fundamentals are lining up on the sell side but the daily range of cable is very wide so selling into resistance makes more sense.

GBPUSD

Most people use ButtonTrader as an fx front end. It costs $27 a month which is really nothing if you think about it. There are free alternatives like TSim+.

Interactive Brokers - experiences and opinions

I think EFX has the edge over IdealPro in terms of execution speed. It takes 2-3 seconds between sending an order and getting confirmation from IB. I think EFX beats that. One good thing about IB is that you know who filled your order - but it's ...

MB Trading Futures - Introduction

Probably the latter. : CME Globex GBP futures price never went below 1.8928. Sounds like bookmakers up to their old tricks.

Spike?

All my spot fx trades at the moment are with InteractiveBroker's IdealPro and the comments you make about MB could equally be applied to them. There are bound to be delays with brokers sending orders directly to banks and those who see NDD brokers ...

MB Trading Futures - Introduction

What comment have I made that casts doubt on you? I always prefer to stick with the issues rather than personalise discussions. All I said was "Those moves are only free money with hindsight" which was directed generally but more at Merlin than ...

US PPI and Retail Sales at the same time!

I think you're taking my comments a little bit too personally. They were not particularly directed at you. My point was, if a 10 pip inverted spread was actually available you could make 50 pips by simply hitting buy and sell 5 times. If one tried ...

MB Trading Futures - Introduction

I spent a while demo trading with MB and observing their live prices. The inverted spread only ever happened on the demo account. Any inverted spread on the interbank market would be arbitraged away in milliseconds. What you must have observed was ...

MB Trading Futures - Introduction

FXopportunist please don't keep talking down to me like I'm some clueless newbie. I've been successfully trading a live account on a variety of markets for years. I have my own systems and chasing the price isn't one of them. If it works for you, ...

US PPI and Retail Sales at the same time!