Cable Update (GBPUSD)

is the ema200 our next target for next week or we rerace from here

lets wait and see enjoy the weekend

disregard his comments. i saw your analysis too late.otherwise i would have spared myself a senseless waste of money. entered at 1.5030 before i saw your post. closed out -12pips. very happy i did. thanks a lot

IMO,

Change view :

USD is going to Decline

Keep Buying @ Dips :

EUR / USD
GBP / USD
AUD / USD
Gold / USD

Keep Selling on Rallies :

USD / CHF

---------

So lucky this week

Looks Good so far

Still Keep them over weekends

Enjoy Nice weekends All http://cdn.forexfactory.com/images/s.../yim/happy.gif

dam it a forex trader have no emotions if u do find u some thing else to play with

I always have emotions. Anything said otherwise is untrue.

just back from work been waiting for this for weeks..still thou..have months of holding this trade..

hope u good?

this is weekend...weekend dude..,do you know what that's mean??
have gathering with people that you have, your parents, your childrens, wife, girlfriend, boyfriends (well, i have many ), close friend, your neighbor, your partner at the office, your boss, your boss affair, someone that you've just met at the bus stop, or anyone, that you feels comfort to.
don't be autism with forex world or you will move to psychiatric hospital soon.
for me it's already morning, so i will continue my sleep. bye bye..

happy weekend to you all....

Great, I kept you out of a 60 pip mistake. And that's why I will continue to comment on trade calls I wholeheartedly disagree with, that's what this thread is all about. It is not about who is right or wrong, just a bunch of good guys and girls here giving a helping hand every once in a while.

If someone does not like to have ones calls commented upon I recommend writing it on a piece of paper instead and pin it to the wall in front of you.

Every post here is free game, including mine.

My chart carried on after 9pm GMT until 9.10pm & closed @ 1.5075 exactly on my daily 62% fib to the pip!

u did great bro u are the man of the week hats off have a great weekend enjoy

It wasn't just me, loads of people here today talking through the long setup all the way to the top.

Thanks for this week all.
I'm newbie here.
Today i lost 20% of my balance because taking short.
But i learn a lot today.

Do you think that we are at the top?

I am thinking that for fundamental reasons it is likely to gap upward and then I am not really sure where it will go, to be honest, after it probably fills the gap.

The short answer, No. There is still more room left to the top. However that said TY usually gives us a nice retrace after a move like this, so Sunday evening will tell. I am not going to predict the top here. I refrain from predicting tops. I just look at significant levels that either need to hold or give. 5053 is the key here, it is a big resistance on the daily, which is also close to the 61.8 retrace of the downmove started from the last bounce on the daily. On the weekly this week has been a perfect bounce of the lTL with a target of 5230 being the uTL, so that's it in a nutshell if 5053 gives we are looking at 5230. However it won't travel in a straight line from here, there will be loads of tradeable ranges both to the short and long side here, just watch 5053 on Sunday.

i hope this might help

It's unbelievable, but many people don't actually use forex exit strategies in their forex trading systems.
If you had to break a system down to it's various components, most traders will argue that the most important parts of a forex trading system, or any other kind of trading system for that matter, are its exit strategy and its money management.
Of course, the other parts of a system are also important, such as the entry rules, the instruments that are traded, and the time frames that are used, but the exit strategy in particular can really determine the overall success of a system.
What we're going to talk about in this article are the 5 things that you must know about forex exit strategies. If you understand these 5 points, you'll be able to much more quickly pick up the rules and skills when learning a new forex trading system.
Here they are:
1. Trailing stops are one type of exit strategy used in forex trading systems.
Their main purpose is to protect profits. They do this in 2 ways. Firstly they allow enough "room to breathe" so that minor fluctuations in the currency price will not stop you out of the trade, and therefore "allow profits to run". This is important.
Secondly, they're trailed upwards in a long trade, therefore protecting your profits as the trade goes is your direction, but eventually exits you from the trade when the trade does go against you. In general, trailing stops do not go backwards (which for a long trade is back down), because if they did, they'll no longer be protecting your profits.
2. Initial stops are also important in forex trading systems.
The purpose of the initial stop is to get you out of the trade if the trade goes in the wrong direction near the beginning of the trade.
In general, many systems have both an initial and trailing stops, but the trailing stop may not be known until later in the trade, when say a peak or trough has formed thereby causing the trailing stop to be placed. That is, in some systems a trailing stop is based on price movements, and these technical points may only be formed some time after the trade is entered.
An ideal initial stop should allow "room to breathe" as well, but not so large as to cause the risk in the trade (the difference between the entry price and the initial stop) to be too large. If the risk in the trade is too large, then the trade sizes will be very small (assuming that you're using a fixed percentage risk model for your money management).
3. "Take profit" targets are another foex exit strategy.
Many forex systems exit positions either fully or partly, when a certain profit target has been reached, say at 50 or 100 pips. One reason why they're used in forex trading in particular, is that the volatility of the market can cause the prices to fluctuate and get you out at your trailing stop before you had a chance to take profit.
So these take profit targets are used, assuming of course that they improve the profitability or reduce the drawdown of the system, as determined by backtesting or forward testing the forex trading system.
4. Breakeven stops are another commonly used forex exit strategy.
If you enter a trade, and have an initial and trailing stop in place, and the currency moves in the direction of your trade, the trailing stops may be moved to breakeven, that is, to the same price or slightly beyond the entry price, when say the trade is "x" pips in profit.
The purpose of this kind of stop is again to improve profitability and to reduce drawdown.
5. Finally, realise that in forex trading, many systems will exit a trade within a certain amount of time before a major economic announcement.
A major economic announcement is an announcement that has the potential to cause a temporary but large move in the market accompanied by a sudden increase in volatility. This typically occurs if the economic figures announced are different to what the market expected. If this occurs, you may be taken out at your trailing stop and there may even be gapping, so it may be beneficial to get out at the current price, rather than being bumped out at your trailing stop when an announcement does make a dramatic move in the market.
In conclusion, you should now understand what these five different forex exit strategies are all about, and why they're used.
So when you're assessing a new forex system, put this into practice! See what kinds of stops are used in the system, and how effective they are.

http://www.investopedia.com/articles.../04/092904.asp

i was unlucky today....
3 time when i try to pick top it not favor my way....
luckyly i set SL just 15 pips every try....
hopefully next week i can recover back my mistake

Price right now has already drifted back down to 50518

What about the G20 meetin over the weekend
will that affect the pair ?

for 3 weeks we had higher lows and and higher highs i think we are in a new range for the rest of this month 15300's might be the top in the other hand lets see what the G20 will do in the weekend

The financial stability report issued today by the BOE makes for an interesting read:

Visual summary

Full report


Highlights:


Key risks to the UK financial system:

• Counterparty risks among European banks that have direct exposures to countries facing increased sovereign risks.

• A sustained reversal in investor risk appetite, increasing the challenge for banks internationally in refinancing maturing funding and reducing the value of banks’ assets.

• A shift in investor portfolios geographically and across the risk spectrum. That could weigh on growth prospects in Europe, heightening credit risk. It could also fuel a slow-burn risk of overheating in some Asian EMEs.

• Payment difficulties for some UK borrowers with overextended balance sheets, including in the commercial property sector, particularly if growth proves weaker than anticipated or market interest rates rose by much more than expected.

• Downside risks to the UK and US housing markets could increase losses on household lending.

• Banks reining in lending to meet future regulatory requirements and to alleviate funding pressures could undermine economic growth and raise credit risk for all banks.





Interesting read for the weekend.

See you guys Sun eve. Have a good weekend.