Cable Update (GBPUSD)

MT3 fine, tried my MT4 through interbankfx working fine!!

Just your broker!!

Just request a 4hour chart posted if you need 1, can do easy!!

ie every 10mins if needs must.

thanks you are very kind but ive got secondary charting package also

Cool!!

Fed blokey says bad things judging by the action, can you let me now when he shuts up pls, best I don't listen to it only confuse me.

Thanks

Okay the plans :-

EU weakest pair best for shorts, near 1.5630 then 1.5650 resistance as possible.

GU short @1.9990, why aren't I long still damn I suck!!

GBP/USD: Heavy Cross Currency Demand Props Cable New York, April 3. Cable has been surging this morning initially triggered by the much weaker than expected initial jobless claims number and further accelerated by heavy cross flow related activity in EUR/GBP with many accounts heading for the exits after benefiting from a significant run to fresh all-time highs by 0.7980. Heavy buying of the GBP from a French bank has also been attributed to the Cable gains on M&A related activity revolving around the EU approval for Heineken"s purchase of Scottish and Newcastle"s business in Belgium. Additional GBP demand has also been seen this morning from Russian accounts.
Technically, while the broader structure is grossly bearish, the market is in the process of a minor corrective bounce following 4 consecutive down days. Ultimately however, a lower top is now sought out below 2.0200, ideally by 1.9980-2.0020, ahead of a resumption of setbacks back under 1.9760. Cable currently trades 1.9950 with initial offers now seen by 1.9980.

Geithner - Dovishly Deviating from Text Boston, April
3. As New York Fed president Timothy Geithner reads his speech before the Senate Banking Committee, it's different from what's on the Fed's website. And it's more dovish. He adds additional emphasis on the need for the central bank to "act forcefully" to address the significant headwinds facing the US economy.
While he talks of a proportionate policy response, he seems to be arguing for a 50 bps cut later this month.

Went long UJ, nearest to support least risk stop wise!! so far


I'm getting there

jeez.... almost +200 pips in the last couple of hours..

hmm ...
continuation?

billionaire or not the system looks great.....i stumbled upon this this morning while i was at work (i work nights)....
a). The first test was at 19865 short....with +108 pips....
b). The next entry test was barely in the "yellow unknown". If you entered it for long @ 1.9903 it retraced about 30 pips (so a 15 pip S/L would have knocked you out the game).....but in support of the system; IF you followed the rules, you probably would not have entered this trade due to the entry price being with both yellow lines (AM I CORRECT IN SAYING THE ABUAWAD or anyone else); although i do remember seeing someone stating that there is a 5 pip window of entry ( o i guess you COULD of gotten into this trade based on the 5 pip recommendation).
**this entry would have produced +65 pips thus far and we are in the 4H window still.
I always love a new system.....BUT THIS SYSTEM makes a very complex behind the seens method seem so simple and easy to use.
I truly appreciate Abuawad and everyones work, time and knowlegde sharing for new comers like me

Bones spiderman's webbed-chart on post 60351 is a fortune teller WOW.

Im very pleased this week as I have managed to stay out of bad trades and wait for a great set up . I am not making the mistake of last week and hold my profitable position I am going to close out 2 longs and let one ride for the day.(the one with the least profit as shown on chart.

nice job,..lets short now ha?...

1.9970 area - strong resistance:

that might be true bro but u should be ready to scap the short.
Up am looking at. have a nice trade lol..

i see dailly is in bull,...,..i hope i could buy tomorow cheaper its nfp (i think it will suprise, and im short bcs i was stoped in longs, so i went short)...and bulls just dont wona give up...

Dear Abuawad,

I just want to know,what is the "time zone" of your MT4 server data? GMT+1,GMT+2 or others?

I found my MT4 chart is different from yours which you analyse.

If other friends know the answer,could you also help me ?

Anyway,thank you very much indeed!

i don't know what is the issue in the time settings closing of 4 h candle is the same in all servers let me say its +3 GMT if you want to know that

i did something today that i never thought i would do on a real account especially with a large lot size...i took a punt and lost half of this years profits :-(. 3 months of hard work down the drain. Anyway i must look on the bright side although im not sure what it is yet....

Dear Abuaward,

Are you doing the analysis on every new daily candle start (0:00) and valid for whole day trading? Or your analysis method can doing on whatever 4H closed candle?

Thanks and sorry for poor english.