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Cable Update (GBPUSD)

  • #60,381
  • Apr 3, 2008 12:41pm Apr 3, 2008 12:41pm
Quoting mavewei
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.
every new daily start. and during the day if the price breake all levels on 4H. or start new direction
  • #60,382
  • Apr 3, 2008 12:49pm Apr 3, 2008 12:49pm
Quoting Abuawad
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
Hi Abuawad, you have done a great amount of good work, I do appreciate your willingness to share on this thread.
Many thanks, and best wishes,
2be
Make sure losses are small and profits are bigger!
  • #60,383
  • Edited 2:47pm Apr 3, 2008 1:45pm | Edited 2:47pm
@Dear Abuawad

Just tell what I've done today. Once I saw cable indicate move down below 1.9867, I short at 1.9850, TP at 1.9770. Then I'm out for offline business. Just a moment I come back and saw that TP 1.9770 has been executed. Nice result 80 pips. Thanks master !

I learn the forecast using FIBO basic formula on daily chart from 1 September 2006 for daily H/L. I try to find the factor index between the 2 latest consequtive daily H/L FIBO number, to be used in forecasting the H/L for the next day. I hope may open the secret of your daily analysis.

OMG, I just saw that you have already attached your method analisys and just download to learn more. Again very very thanks, GBU !!!!!
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,384
  • Apr 3, 2008 1:54pm Apr 3, 2008 1:54pm
Quoting sooperthug
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....

Bright side is, still got 50% left, got greedy and lost, pretty much every time I get greedy I lose, learn from this I guess!! no every damn time thought I'd get lucky atleast once, but no.

Remember you can make it nearly as quick as you can lose it
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,385
  • Apr 3, 2008 2:46pm Apr 3, 2008 2:46pm
Quoting manize
@Dear Abuawad

Just tell what I've done today. Once I saw cable indicate move down below 1.9867, I short at 1.9850, TP at 1.9770. Then I'm out for offline business. Just a moment I come back and saw that TP 1.9770 has been executed. Nice result 80 pips. Thanks master ! GBU !

I learn the forecast using FIBO basic formula on daily chart from 1 September 2006 for daily H/L. I try to find the factor index between the 2 latest consequtive daily H/L FIBO number, to be used in forecasting the H/L for the next day. I hope may open the secret of your daily analysis.
i'm happy for you. and for the question you have in Red, there are no secret keep doning the analysis and you will find it so easy...
  • #60,386
  • Apr 3, 2008 3:39pm Apr 3, 2008 3:39pm
Below is a snapshot of my trades , and the direction i have taken is the trend for now no matter the news... You will tell me what you feel about it in some days when you see the market moving in my favour... (lol)
Attached Image (click to enlarge)
Click to Enlarge Name: my trades.jpg Size: 32 KB
  • #60,387
  • Apr 3, 2008 4:07pm Apr 3, 2008 4:07pm
Quoting myteax
Below is a snapshot of my trades , and the direction i have taken is the trend for now no matter the news... You will tell me what you feel about it in some days when you see the market moving in my favour... (lol)
so u think cable's bullish no matter what?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #60,388
  • Apr 3, 2008 4:19pm Apr 3, 2008 4:19pm
As said before Salah, long into US news, short into UK news as odds are both will suck, tight stop just before the release ( but not too tight doh!! )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,389
  • Apr 3, 2008 5:37pm Apr 3, 2008 5:37pm
Quoting salah k.
so u think cable's bullish no matter what?
YES (CAPITAL YES)....
  • #60,390
  • Apr 3, 2008 5:40pm Apr 3, 2008 5:40pm
04-04-2008
Attached Image
  • #60,391
  • Edited 6:21pm Apr 3, 2008 6:10pm | Edited 6:21pm
How to use it?

Drag the attached file to the MT4 "templates" folder.

Restart MT4, open GBP/USD

Right click on the chart, select Templates, Abuawad(current).

Lines should appear on the chart which match Abuawad's values and colour scheme (on M1 thru D1 only i.e. not W1 or M1 tho u can change this if you wish)
Attached File(s)
File Type: tpl Abuawad(current).tpl   3 KB | 434 downloads
Darkness lies one inch ahead..
  • #60,392
  • Apr 3, 2008 7:13pm Apr 3, 2008 7:13pm
Abuawad and Friends,

a. 1.9865 short entry is easily understood using Abuawad's system. First 4H candle that opened after yellow (+108). A clear entry picture.

b. But how would you handle the 04/03/08 1600 1.9960 4H candle? would you enter long on this (even though significant profits/pips have been made already), or would you play it safe and avoid this entry.

c. My key questions really is.....DO YOU MOSTLY ONLY ENTER NEW TRADES (long or short) IMMEDIATELY AFTER A NEW 4h candle opens after passing the yellow "no mans land".
It almost seems safer to wait for those entries, but how often does that setup present itself daily or monthly

ANY HELP WOULD BE GREATLY APPRECIATED.
  • #60,393
  • Apr 3, 2008 8:13pm Apr 3, 2008 8:13pm
Quoting dread
b. But how would you handle the 04/03/08 1600 1.9960 4H candle? would you enter long on this (even though significant profits/pips have been made already), or would you play it safe and avoid this entry.

c. My key questions really is.....DO YOU MOSTLY ONLY ENTER NEW TRADES (long or short) IMMEDIATELY AFTER A NEW 4h candle opens after passing the yellow "no mans land".
It almost seems safer to wait for those entries, but how often does that setup present itself daily or monthly

ANY HELP WOULD BE GREATLY APPRECIATED.
Normally it's no new trades on H4 closes/opens in Unknown Area.

No easy answer tho easy to trade after-the-fact. M30 shows hammer with
O/C near close of preceding H4 i.e. buyers prevailing. Depends on your risk appetite/greed perhaps?
Darkness lies one inch ahead..
  • #60,394
  • Apr 3, 2008 8:50pm Apr 3, 2008 8:50pm
Quoting TraderJR
Normally it's no new trades on H4 closes/opens in Unknown Area.

No easy answer tho easy to trade after-the-fact. M30 shows hammer with
O/C near close of preceding H4 i.e. buyers prevailing. Depends on your risk appetite/greed perhaps?
JR..

Thanks for the template.. however the problem I have is putting too many S and R lines outside of fibos and it ends up with a chart and a gazillion lines which only serve to muck up the chart.

I'm not sure how to correct this, as ridiculous as that sounds other than the obvious.. stop drawing too many lines.

Problem is, I apparently see S and R's where they are simply too minor to warrant placing them as opposed to you and Abuawad.
"I know how hard it is for you to put food on your family." George W. Bush
  • #60,395
  • Apr 3, 2008 8:52pm Apr 3, 2008 8:52pm
I guess i'll just wait until a clear opening 4H candle opens above or below the yellow lines.
  • #60,396
  • Apr 3, 2008 9:01pm Apr 3, 2008 9:01pm
Quoting TraderJR
How to use it?

Drag the attached file to the MT4 "templates" folder.

Restart MT4, open GBP/USD

Right click on the chart, select Templates, Abuawad(current).

Lines should appear on the chart which match Abuawad's values and colour scheme (on M1 thru D1 only i.e. not W1 or M1 tho u can change this if you wish)
Thanks, TraderJR
In fact, the step "Restart MT4" is not necessary.
You can "Right click on the chart, select Templates, Abuawad(current)." directly.
Rhythm, Motion, Emotion and Risk Reward.
  • #60,397
  • Apr 3, 2008 10:00pm Apr 3, 2008 10:00pm
Quoting aihua5
Thanks, TraderJR
In fact, the step "Restart MT4" is not necessary.
You can "Right click on the chart, select Templates, Abuawad(current)." directly.
Cool. I think I noticed that also but put it in "just-in-case" - other things like EAs require restarting MT4, I think.
Darkness lies one inch ahead..
  • #60,398
  • Edited 10:24pm Apr 3, 2008 10:05pm | Edited 10:24pm
Quoting MarcoW
JR..

Thanks for the template.. however the problem I have is putting too many S and R lines outside of fibos and it ends up with a chart and a gazillion lines which only serve to muck up the chart.

I'm not sure how to correct this, as ridiculous as that sounds other than the obvious.. stop drawing too many lines.

Problem is, I apparently see S and R's where they are simply too minor to warrant placing them as opposed to you and Abuawad.
What I do is to have multiple GBP/USD charts open. Two for my own fib analysis (H1 and H4) and two for Abuwad's (H1 and H4). MT4 enables you to simply tab between them.

Not quite "as good" as having all the data on the one chart, but much clearer.

Like you, I have noticed that there are other significant S/Rs such as weekly or monthly fibs which Abuawad's analysis ignores, and where price may have significant pauses. That nothwithstanding, what is amazing about Abuawad's lines is that price "invariably and inevitably" (is anything perfect?) seems to achieve that particular value or further, though it may have to do so in more than one attempt.

After reading and rereading his PDF, I am no closer to being able to generate the table as Abuawad's posts daily. Let's all hope he doesn't get hit by a bus, or simply tires of sharing. If u have any thoughts on this, speak out!
Darkness lies one inch ahead..
  • #60,399
  • Apr 3, 2008 10:34pm Apr 3, 2008 10:34pm
it look like we r going up now guyz. market is taking more strenght to break 365ema on the 1hr chart....it`s just my opinion..trade @ ur own risk.thanks



Quoting dread
I guess i'll just wait until a clear opening 4H candle opens above or below the yellow lines.
  • #60,400
  • Edited 11:25pm Apr 3, 2008 10:36pm | Edited 11:25pm
Just test what I've learned about FIBO number based on daily chart from 1 September 2006 to forecast H and L for today 4 April 2008.

Daily H :

2 latest daily H : 1.9900 and 1.9976. FIBO number 1551.0634... and 1553.0610..., we can find the index`factor 1.00128464..... and 1.001287891.
To forecast daily H, let us take index factor 1.001283 and 1.001288 (should not use this index, depend on each person analysing), then we find H in a range 1.9926 - 2.0003.

Daily L :

2 latest daily L : 1.9746 and 1.9760. FIBO number 1464.7064... and 1466.6824..., we can find the index`factor 1.00134994..... and 1.001349076....
To forecast daily L , let us take index factor 1.001350 and 1.001349 (should not use this index, depend on each person analysing), then we find L in a range 1.9786 - 1.9800.

I still continue to analyze for 4H chart and all time frame chart in which Master Abuawad used to make analysing ...
I only trade XAU/USD. Based on USD news & Fib SR & BB20
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