Trade what you see NOT what you expect

I can see that, but my short position is from the top, I can allow for a pullback, add to it at the right place and cash in just fine. I don't like to hold positions through the weekend, but being up 150 points on her, I can afford to. I'm only up 15 on my long position so I'll cash out and let her be.

My broker respects the stops on trades so it perfectly safe to leave things running. I have had 2 occasions were my trades stops were ignored I rang them they checked the logs on the server and refunded me the money.

closed eJ for 31 my second GJ trade has closed for 63 and the the other one is close to getting stopped as well

Who's your broker bro?

alpari uk

The only other one I know in the States that my mate raves about is Interbank FX he has been with them for 11 years

second gj short closed for 89 I can see why GU has taken off

Fly baby fly go and grab my mate EO shorts

Good job on the other trades bro! I've closed the rest of my longs at 6441. My shorts are still covered at 6555, but I've reduced my position size to only 2 lots left open.

I've gotta run, but I'll be on over the weekend.

I hope you get my short position bro! Have a great weekend!

Your shorts are safe mate, I hope you get double what you have right now, I will be surprised if we get past the 50 on the 15m at this late stage of the day

You have a great weekend too Bro

boring Friday afternoon but the morning was quite exciting. Wish everyone a nice weekend and a good start to next week

Daily Forex Technicals | Written by FastBrokers | Jul 24 09 16:48 GMT | GBP/USD Sinks after Disappointing GDP Numbers

The Cable peaked above the psychological 1.65 level and our 3rd tier trend lines after BBA mortgage approvals and retail sales exceeded analyst expectations while U.S. equities surged to new 2009 highs. However, the GBP/USD has reversed quickly after Prelim GDP came in 5 basis points below expectations (-0.8% vs -.03%E). Additionally, the previously released number was revised lower from -1.9% to -2.4%. Today's negative GDP data suddenly increases speculation that the BoE will need to expand its $125 billion QE package at the next policy meeting. Before making an emotional reaction, we do point out that even though British production, manufacturing, and services data points have been mixed/disappointing, the unemployment rate and consumption have improved by leaps and bounds. Hence, the negative data points we're seeing from on the GDP side may be lagging behind an improving employment market. Furthermore, even though today's Prelim GDP missed expectations and may be revised lower next time, today's number is certainly a nice improvement from before (-0.8% vs -2.4%). Therefore, we suggest investors exercise caution before becoming too negative on the Cable.
Meanwhile, it will be interesting to see if the Cable can recover from our 2nd tier uptrend line. If so, the GBP/USD can retain its theme of a slow, volatile upward sloping trend. The Cable is constructing an incredible foundation in the process, with pillars standing at 6/8 and 7/8 lows. We knew the meat of the June trading range would be challenging. What matters for swing bulls is that the GBP/USD is looking to make a 5th progressive higher July low today (7/8, 7/13, 7/17, 7/22, and possibly 7/24). Despite the progress being made over the medium-term uptrend, the GBP/USD still faces key resistances preventing the currency pair from a real breakout to the upside. The topside obstacles are the psychological 1.65 level, our 3rd tier downtrend line and Thursday's highs. As for the downside, should our 2nd tier uptrend line fail the GBP/USD has 7/22 lows and our 1st tier uptrend line serving as cushions.
Like the EU, Britain will be relatively quiet on the economic data front next week. The most prominent release will be CBI realized sales on Tuesday. Therefore, investors will be paying closer attention to U.S. economic data and corporate earnings as the 2nd quarter starts to fill out.
Present Price: 1.6407
Resistances: 1.6441, 1.6467, 1.6500, 1.6542, 1.6555
Supports: 1.6405, 1.6372, 1.6347, 1.6324, 1.6301
Psychological: 1.65

http://www.actionforex.com/images/st...2009072421.gif

FastBrokers

Weak Dollar? Not On This Week's Charts

Twice a year the markets absorb the testimony of the Federal Reserve chairman in regard to forward economic prospects, as well as the reasoning of what came before. Both six monthly reviews come in the middle of earnings season, and therefore tend to create a reaction, that analysts tend to place the blame of at the feet of the Fed. In reality, the earnings numbers are the key points, that when added to the trend of the Fed sentiment, tends to create a market that needs a good reason to move, and hold.
The moves tend to create a trend that go on to hold through the next two or three months of trade, and it seems as though July will be no different. Earnings are in, the Fed chat is out of the way, and the markets are positioned to easily transpose the rhetoric into forex moves. This week tends to be the pre-cursor that of what is to come.
Global equity and commodity markets have moved, however, forex pairs in general have stood still since Monday’s U.S. session open. The Usd has gained 90 pips in total since then against five of the six major pairs, not bad for a currency that many are calling as being in free-fall. It is only Usd/Cad that has tagged on more than 100 pips since the Wall Street session got underway at the beginning of the week.
Trade signals have been intra-day, and very reactive to momentum swings, in happening within two or three 30 minute chart patterns that are then struggling to hold. That however may be the last distribution phase of liquidating institutional positions before a major move happens that gets in-line with global market drivers. If so, the euro’s 1 pip, the 7 pips on yen, 80 pips on cable, 10 on aussie, and six on swissy, since the start of the U.S. week, may lead to a break-out that delivers sustainable moves as next week unfolds.
Until we look back on a week that the headlines scream ‘Usd Weakness’ it is hard to understand the lack of forex movement. However, when we look at the fact that outside of Usd/Cad, the dollar has gained this week since the Monday U.S. session, we get to understand that the divergence in global markets and currency values may quickly get back in line. Watching failed break-outs is fine, and channel trading offers unique rewards, but forex traders need to get ready for the break; the cad has signaled that the market is ready to take each pair on a move, and next week’s calendar is likely to offer the instigator
Written by TheLFB Trade Team, 2007-2008 LFB Services, LLC. All rights reserved. http://www.TheLFB-Forex.com

Weekly Market Commentary

Overview

Extensive and perhaps over-excited media coverage of equity indices which rallied strongly for a second consecutive week (many for nine consecutive days) and some broke to new highs for the year. The best performers were Eastern European ones (Polish WIG +11.20% and Helsinki +7.0%) and Asian ones (Hang Seng +4.0%). Great excitement at the BBC World Service where the Dow Jones Industrial Average closing above 9,000 on Thursday made headline news. The US dollar lost ground against all currencies except the Yen, many trading close to their strongest levels this year, while the South African rand hit 7.6145 and its best level since August 2008. Yields backed up a little but remain well within the range of the last month. Most commodities are a bit higher, ICE Sugar at 18.48 cents per pound equalling the March 2006 high (and well above one standard deviation from the mean of the last thirty years), Nymex Crude Oil inched up to $67.68 per barrel, LME 3-month Aluminium $1,811 and Copper $5,575 per tonne, an increase of about 30% and 50% respectively from this year's lowest levels.
Political and Economic Developments

UK Q2 GDP dropped -0.8% Q/Q and -5.6% Y/Y, a record for a series going back to 1956 and a lot worse than the government and economists' forecasts. Meanwhile government debt ballooned again to a record £19B in June and net debt a whopping 55.6% of GDP. Typical of the British public, against this dire background they managed to push Retail Sales +1.2% M/M and +2.9% Y/Y due to unseasonably warm weather and early summer sales. Japanese Supermarket Sales -4.4% Y/Y, at the lower end of the range since 2000 as an increasingly desperate ruling LDP attacks the opposition Democratic Party, the election campaign heating up with headlines declaring: ‘The Future of Japan is in Danger'.
Brazil's central bank cut the key Selic rate by 50 basis points to a record low 8.75%.
Underlying Themes

While some banks reported good Q2 earnings on wider margins and successful trading, those lending to commercial real estate are suffering. Valued at $6,700B, 10% of US GDP, Moody's notes prices fell 7.6% in May and the sector as a whole had lost about 35% from its peak. Spanish residential rents are falling as properties that fail to sell (1.5 million so far and rising) flood the lettings sector - +55% to 3.3 million units over the last two years; Madrid and Barcelona down 8%, the first ever decline, to €12.6 per square metre. Hoteliers are getting reductions of up to 30% from landlords as they in turn see a sharp drop in guests especially at the business and luxury end. UK Commercial Property is struggling too, the British Retail Consortium estimates that one in eight town centre shops is empty. The beleaguered British Beer and Pub Association reports 52 pubs closing weekly this year against 39 last, the total still in business dropping to 53,446 from 58,600 in 2006, local ones rather than the high street especially hard hit. The Commercial Mortgage-Backed Securities Market is still pricing the very few deals done at eye-watering spreads - 145 basis points over ten-year Gilts for Land Securities' £360M on a site with a long-term government tenant in place.
What to watch for next week

Sunday 26th Ben Bernanke gives PBS TV an interview from the Federal Reserve Bank of Kansas City discussing the economy. Monday Japan June Corporate Services Prices, EZ16 Money Supply, US New Home Sales, UK July Hometrack Housing Survey, Nationwide House Prices from this day and German August GfK Consumer Confidence. Tuesday US May CaseShiller Home Prices, UK July CBI Distributive Trades and US Consumer Confidence. Wednesday Japan June Retail Trade, UK Net Consumer Credit, Money Supply and Mortgage Approvals, US Durable Goods Orders, the Fed's beige Book and July CPI for the different German states due from this day. Very late the Reserve Bank of New Zealand decides on rates (expected unchanged at 2.50%). Thursday Japan June Vehicle and Industrial Production, German Retail Sales and July Unemployment, EZ16 Business Climate Indicator and Confidence Surveys. Friday Japan June Jobless, Household Spending, Housing Starts, Construction Orders, National CPI, Tokyo July CPI, UK GfK Consumer Confidence, EZ16 CPI, Chicago Purchasing Managers, US Q2 GDP and Eurozone June Unemployment. Saturday is the 1st August.
Positioning and Technical Analysis

Rallies in equity indices are unlikely to see any follow-through next week so we shall allow for another two to four weeks of broadly sideways work. Those that posted new highs for this year we feel are in a process of establishing new wider trading bands. This should enable the Euro, pound and other major currencies to strengthen against the US dollar, causing another round of short-covering. Watch for strong weekly closes in these to confirm the start of the next leg in a long term trend. Commodities may benefit from this and perennial gold bugs will be tempted to buy more. Money market futures, especially Eurodollar interest rate ones, suddenly look vulnerable. If not next week then during August we expect a sharp sell-off, similar to the one in early June, as another round of jitters hit the banking sector. Fixed income yields should move sideways.
Mizuho Corporate Bank

You have a good weekend too mate

Still looking bullish, even though it was in a range of about 200 pips, it did close higher, hopefully with next week being the last of the month we shall see.

That upper TL is at 6550ish area, which also is the same as my monthly 200sma. A close over that 6550ish area and 1.7000 is on the cards.

Bottom TL is around the 6030ish area. It could be a bumpy ride down until 6200 is cleared.

HOLLA

Daily did close bearish, but above the 10ema and above 6400 area. Broke that smaller TL, but the larger one(below) from March 11 is still in place.

Buyers are sitting around 6280-6320 area. Sellers are sitting 6550-6620 area. GDP numbers weren't good, but then again it was Friday, so folks could of been taking profit.

Weekly is still bullish and hopefully we can get a long sustaining trend that lasts more than 4hrs.

Well it's time to crack that 1st beer of the weekend, everyone enjoy your time.

HOLLA

Still need to see a close over 4270.

The upper TL is drawn from 7/13/08 and this current candle is it's only other point.

Also sitting at the 50% retrace from 7/13/08.

HOLLA

Wonder is she gonna drop????

HOLLA

OK I HEVE BEEN REDING THE PDF AND I HEVE A Q

WHAT THE EXIT PLAN AND HOW DO U MANEG U R TRADE

IN ORDER TO TAKE THE MOST OUT OF THE TABEL WHIT A GENERAL

GOOD RISK/REWORD

THISE THERD LOOK GOOD ׂGOOD STUFׁ

BUT THISE IS MY MISSING PART ON THISE PAZEL

LOKKING FOR U COMMENT AND SO ON

ENGHLIS NOT MY NAITIVE LANGHUCH SO BEER WHITE ME

THENKS U ALL AND HEVE NICE WEEK END