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Cable Update (GBPUSD)

  • #60,401
  • Apr 3, 2008 8:46pm Apr 3, 2008 8:46pm
Quoting MarcoW
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!
Well I agree here.. so let me pose this question to the master himself..

Abuawad.. how do you differentiate your target S and R's from a host of other ones from the monthly on down to the 4hour which appear to be significant??[/quote]
"I know how hard it is for you to put food on your family." George W. Bush
  • #60,402
  • Apr 3, 2008 8:56pm Apr 3, 2008 8:56pm
Quoting TraderJR
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!
I have offered to create Version 2 of Abuawad's doc (already started), but I first need to fully understand the original PDF (which I don't).

Abuawad has promised (earlier this week) to come back to me with the answers to all my questions that will enable me to create a more clear and concise document.

Ultimately, that will help Abuawad get his message across more clearly and help all of us who favour his method.
  • #60,403
  • Edited 9:48pm Apr 3, 2008 9:35pm | Edited 9:48pm
Based on Abuawad Forecast, we will know in another 30 minutes, she goes up or down for 50 - 100 pips or still in unknown area limit. Don't miss the boat !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,404
  • Apr 3, 2008 10:02pm Apr 3, 2008 10:02pm
More patient 2 wait, she still goes around unknown limit area ! So I should go for offline business ! Come back again for another 4 hrs. By all, have a nice trade !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,405
  • Apr 3, 2008 10:19pm Apr 3, 2008 10:19pm
Quoting manize
More patient 2 wait, she still goes around unknown limit area ! So I should go for offline business ! Come back again for another 4 hrs. By all, have a nice trade !
Hi Manize,
May I know why and how in your analysis you come to say that 'in 30 mins time we shall know........' . I'm just wondering.....just curious
  • #60,406
  • Apr 3, 2008 10:40pm Apr 3, 2008 10:40pm
Quoting ManBukitKuda

Hi Manize,
May I know why and how in your analysis you come to say that 'in 30 mins time we shall know........' . I'm just wondering.....just curious
I have rectivied my post ! You are too fast to make a comment ... ha... ha....

Quote
Based on Abuawad Forecast, we will know in another 30 minutes, she goes up or down for 50 - 100 pips or still in unknown area limit. Don't miss the boat !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,407
  • Apr 3, 2008 11:09pm Apr 3, 2008 11:09pm
Quoting priceaction
I have offered to create Version 2 of Abuawad's doc (already started), but I first need to fully understand the original PDF (which I don't).
One of the main probs which can be dealt with is the blurry example charts, but even if that is fixed there is considerable discretionary input in choosing additional S/R lines IMHO.

Abuawad uses MT4 for his analysis (but not for trading) so you might be able to persuade him to make a template of his analysis chart, then you will have a live example which you can play with (in MT4).

Quote
Abuawad has promised (earlier this week) to come back to me with the answers to all my questions that will enable me to create a more clear and concise document.

Excellent, I hope this project succeeds.

At the moment the situation is, "Let's all hope that Abuawad doesn't get hit by a bus or tires of sharing" - unless there's someone else who has succeeded in duplicating his daily table (tho I doubt it).
Darkness lies one inch ahead..
  • #60,408
  • Apr 3, 2008 11:19pm Apr 3, 2008 11:19pm
Quoting manize
Based on Abuawad Forecast, we will know in another 30 minutes, she goes up or down for 50 - 100 pips or still in unknown area limit. Don't miss the boat !
Looks like the last option ATM. Wonder what to do if there seems to be a really strong breakout in the meantime? 4 hr is a long time to wait, but that's what the method says.

Actually it's not 50-100 pips, you're only really "guaranteed" to the first target or S/R line - it could retrace strongly at that point, or even reverse.

It often seems to go past the first line to the next or even further, but I think it is reckless to simply assume that it will.
Darkness lies one inch ahead..
  • #60,409
  • Apr 3, 2008 11:25pm Apr 3, 2008 11:25pm
Quoting Abuawad
04-04-2008
Hi Abuawad,
Your numbers S/R, Uplimit Target, Down........are good, thank for your great assistance and your wanting to share with us your knowledge......without any return. I am new to this (< 1 year) and I have one Question (for a start). From your numbers and analysis how do I conclude perhaps in that particular day the direction of the market (I am referring to CABLE only). Sorry perhaps my question seems non logical at all to you.
  • #60,410
  • Apr 4, 2008 12:44am Apr 4, 2008 12:44am
From: http://drforex.blogspot.com/The dollar gained against major currencies in overnight trade in Asia, as investors braced themselves for US jobs data later today. In Singapore this morning, the euro was at USD 1.5653, down from USD 1.5662 in Sydney earlier.The dollar was trading at 102.62 yen, up from 102.32 yen in Sydney this morning. 'The U.S. payrolls have kept many investors sidelined, exaggerating volatility in the last two sessions -- we expect tight ranges in Asia ahead of the data,' said Andrew Spencer at Thomson IFR.Market consensus forecasts are for a 50,000 drop in non-farm jobs and a 5 percent unemployment rate compared with February's 63,000 job losses and a 4.8 percent unemployment rate.Weekly U.S. jobless claims surging to a two-and-a-half year high of 407,000 suggest the job losses will be greater than expected, but there is a chance the actual job losses might be lower than expected given the mixed data that came out of the U.S. this week, said Tim Condon, a currency strategist at ING Financial Markets in Singapore...Read more: http://drforex.blogspot.com/
  • #60,411
  • Apr 4, 2008 1:15am Apr 4, 2008 1:15am
today just must be a quite extreme day!
  • #60,412
  • Apr 4, 2008 2:20am Apr 4, 2008 2:20am
cable will reach 2.0100 today, will look to buy on a pullback at nfp
  • #60,413
  • Apr 4, 2008 2:21am Apr 4, 2008 2:21am
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)
this is a great idea....i havent had a chance to look at abuawad method yet but i think i will this weekend ...as every1 is so impressed, i gotta see what whats in it ..seems it can only help my trading..

ps: i only placed one trade the whole week and that was for 40 pips closed at profit the rest of time i havent been involved ...new thing for me huh....lol
  • #60,414
  • Apr 4, 2008 3:00am Apr 4, 2008 3:00am
Ok I am out of market at mo and have set a buy up on possible spike down.
Overall big picture I see right now is bearish so I would keep it tight.
2.0060 is a key level to the upside on daily. Weekly is about 2.1
No real time to explain myself today.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #60,415
  • Apr 4, 2008 3:03am Apr 4, 2008 3:03am
thanks for your info bones, much appreciated



Quoting Bones
Ok I am out of market at mo and have set a buy up on possible spike down.
Overall big picture I see right now is bearish so I would keep it tight.
2.0060 is a key level to the upside on daily. Weekly is about 2.1
No real time to explain myself today.
  • #60,416
  • Edited 3:30am Apr 4, 2008 3:09am | Edited 3:30am
Quoting Bones
Ok I am out of market at mo and have set a buy up on possible spike down.
Overall big picture I see right now is bearish so I would keep it tight.
2.0060 is a key level to the upside on daily. Weekly is about 2.1
No real time to explain myself today.
thx buddy ..im just gonna rest this week and besides i have to be at work already .have good day and hope u make plenty of pips ..u deserve this

i expect it to remain bullish but 2.0101 ..i think will be a turning point to go short ..assuming it passes r1 here
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  • #60,417
  • Edited 4:15am Apr 4, 2008 3:15am | Edited 4:15am
Quoting TraderJR
Looks like the last option ATM. Wonder what to do if there seems to be a really strong breakout in the meantime? 4 hr is a long time to wait, but that's what the method says.

Actually it's not 50-100 pips, you're only really "guaranteed" to the first target or S/R line - it could retrace strongly at that point, or even reverse.

It often seems to go past the first line to the next or even further, but I think it is reckless to simply assume that it will.
Exactly, therefore my target still for the 1st one sofar. Need much more experience to trade the 2nd target and more in a day....
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,418
  • Edited 3:22am Apr 4, 2008 3:18am | Edited 3:22am
Near term upside analysis:

I have Daily R1 pivot at around 0036 today (based on London midnight) in that vicinity we also have the already upside breeched 38.2% fib of the fall 2.1162-9335. (Todays current hi around there) Of course we have the 4hr descending resistance trend line around 0050 now, as yet untested.

61.8% of 0387-9730 fall and the already upside breeched 76.4% of 0278-9730 is at 0063-69 area.

76.4% of 0192-9730 fall at 0083, and the already upside breeched 50% of 0831-9337 fall at 0084 too.

MNi talking of offers 0090-0100 with stops at 0110, Daily R2 anywhere 0107-0114
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ex member
  • #60,419
  • Apr 4, 2008 3:27am Apr 4, 2008 3:27am
next 7 days will be interesting re gbpusd, today's nfp number if negative and a rise in un-emp % beyond 4.8%, possibly 5% could be $ bearish, next week 10th/April BOE exopected to cut rates by at least 0.25%.
ex member
  • #60,420
  • Apr 4, 2008 3:50am Apr 4, 2008 3:50am
Quoting bbmac
next 7 days will be interesting re gbpusd, today's nfp number if negative and a rise in un-emp % beyond 4.8%, possibly 5% could be $ bearish, next week 10th/April BOE exopected to cut rates by at least 0.25%.

dont expect that too much. dont u think some comment from BOE MPC are very unreal.they dont normally do that. and Destuch bank delay their rate cut expectation to May.

moreover, bad NFP may hurt GBP and Euro too.
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