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Cable Update (GBPUSD)

  • #60,781
  • Apr 8, 2008 1:35am Apr 8, 2008 1:35am
Thought Halifax already came out, 3:00 AM GMT time. It's staying the same.
Expected the unexpected
  • #60,782
  • Apr 8, 2008 1:40am Apr 8, 2008 1:40am
Quoting Ultraman
i agree with u Tmac...
i also dunno why n why they all said long...
it's very clear sell signal..

TIPS: if any traderz it's new in diz industry..better u all use TF30M..
u all can see very clear signal..

TIPS: TRADE WHAT YOU SEE ONLY
TIPS: Learn to trade not to follow
Don't chase the market, Let the market come to you
  • #60,783
  • Apr 8, 2008 1:42am Apr 8, 2008 1:42am
Quoting priceaction
I trade live with Alpari London.
The 4 hr candles open at 4am, 8am, etc, Central European Time.
4am candle opened at 1.9908 as per chart below

Nevertheless, with so many other things (like Friday's daily pinbar) pointing down, I would have been sceptical about going long with that 4hr candle so close to Abuawad's unknown area
Well i'm sorrey to hear that. i'm goining to find a solution for it during the weekend till that time please be cearful.
and for sure there will be mistakes its market not some cemical formela or mathmatics ruls.
  • #60,784
  • Apr 8, 2008 1:42am Apr 8, 2008 1:42am
Any Ideas That News Gbp Today Strong Or Weak??
  • #60,785
  • Edited 1:59am Apr 8, 2008 1:45am | Edited 1:59am
Here is not seen h4 candle opened/closed above 1.9903. Also not seen h4 candle closed/opened below 1.9963. I use MT4 and Marketiva. So I choose wait and see !

Deboooo .....1.9821 has been touched now.... Huge fall ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,786
  • Apr 8, 2008 1:45am Apr 8, 2008 1:45am
Hi

Real broke to 1.9816 will target 1.9777 to 1.9763
  • #60,787
  • Apr 8, 2008 1:46am Apr 8, 2008 1:46am
Quoting TraderJR
Abuawad

On Alpari UK it did - what server are you using?
I'm using this server. InterbankFX-Demo Accounts.
here also i attach the config file for MT4 to work on the same server.

i think this is the solution woriking on the same server. and for who use MT4 as a platform for trading still i don't know how to solve it. if someone have idea please lets know
Attached File(s)
File Type: zip config.zip   10 KB | 361 downloads
  • #60,788
  • Apr 8, 2008 1:49am Apr 8, 2008 1:49am
Quoting TraderJR
Abuawad

On Alpari UK it did.

There's no doji before my 1st green arrowed candle, though the red arrowed candles are quite similar

Obviously some data differences - what server are you using?
i think each server had difference
coz on my case i've use 3 server to prevent server down
2 server it did like Alpari UK ( i use skyeast both real and demo )
1 server just like abuawad pict ( straighthold )
why is that ? can anyone tell me ?
  • #60,789
  • Apr 8, 2008 1:54am Apr 8, 2008 1:54am
Quoting T 1 Ti
i think each server had difference
coz on my case i've use 3 server to prevent server down
2 server it did like Alpari UK ( i use skyeast both real and demo )
1 server just like abuawad pict ( straighthold )
why is that ? can anyone tell me ?
It's down to sever configuration in terms of the server's own time, and in terms of when the broker determines candles to open & close.
  • #60,790
  • Apr 8, 2008 1:56am Apr 8, 2008 1:56am
Quoting Abuawad
Well i'm sorrey to hear that. i'm goining to find a solution for it during the weekend till that time please be cearful.
and for sure there will be mistakes its market not some cemical formela or mathmatics ruls.
Two other trades based on your method yesterday worked perfectly as did the one following this "bad" trade.
Darkness lies one inch ahead..
  • #60,791
  • Apr 8, 2008 1:57am Apr 8, 2008 1:57am
Quoting priceaction
It's down to sever configuration in terms of the server's own time, and in terms of when the broker determines candles to open & close.
hi and thanx 4 ur explanation
i'll wait for ur doc version about abuawad analysis
  • #60,792
  • Apr 8, 2008 2:01am Apr 8, 2008 2:01am
Quoting deboooo2005
Hi

Real broke to 1.9816 will target 1.9777 to 1.9763
Does it safe go long at 1.9777 - 1.9763 ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,793
  • Apr 8, 2008 2:01am Apr 8, 2008 2:01am
-2.5% big drop coming
  • #60,794
  • Apr 8, 2008 2:01am Apr 8, 2008 2:01am
Quoting TraderJR
Two other trades based on your method yesterday worked perfectly as did the one following this "bad" trade.
JR, I think Abuawad's method using Support & Resistance & fibs is pretty good. After all, this method is not rocket science, it's simply the application of some fundamental chart info, wrapped up and called 'a method'.

Today was just a matter of price being a bit close to the unknown area. There were other things on the charts (like the Friday daily pinbar) which indicated that Cable was heading down.

Essentially, I think that Abuawad has found himself a nice structured way of using fundamental chart info to trade.
  • #60,795
  • Apr 8, 2008 2:04am Apr 8, 2008 2:04am
Quoting Abuawad
I'm using this server. InterbankFX-Demo Accounts.
here also i attach the config file for MT4 to work on the same server.

i think this is the solution woriking on the same server. and for who use MT4 as a platform for trading still i don't know how to solve it. if someone have idea please lets know
I think I'll keep going with Alpari UK - I'm only demoing and the idea is to see how the method behaves.

Actually maybe I found the reason: Since 31Mar08 I did 12 trades (not including this "bad" trade) of which 7 were profitable, 4 closed at BE (could have profited if held nerve) and one a loss because I misread the direction (still being new to the method).

This "bad" trade was the 13th!!!

Are traders superstitious or not? Remember what happened to Apollo 13

Anyway, just kidding, seems a curious coincidence tho..
Darkness lies one inch ahead..
  • #60,796
  • Apr 8, 2008 2:07am Apr 8, 2008 2:07am
just logged on and saw that my sell order was filled at 9900.

tp 9765
  • #60,797
  • Apr 8, 2008 2:12am Apr 8, 2008 2:12am
Quoting priceaction
JR, I think Abuawad's method using Support & Resistance & fibs is pretty good. After all, this method is not rocket science, it's simply the application of some fundamental chart info, wrapped up and called 'a method'.

Today was just a matter of price being a bit close to the unknown area. There were other things on the charts (like the Friday daily pinbar) which indicated that Cable was heading down.

Essentially, I think that Abuawad has found himself a nice structured way of using fundamental chart info to trade.
Not questioning his method, it's brilliant if you can trade just using the ultimate indicator, price action. All other indicators are derivative and to that extent dodgy..

In a practical sense tho, due to server data differences and the somewhat subjective way in which Abuawad's priceline values are determined, I think I will have to widen my "grey area" to 5 pips from a line, previously I've used 3 pips.
Darkness lies one inch ahead..
  • #60,798
  • Apr 8, 2008 2:15am Apr 8, 2008 2:15am
this is skyeast
Attached Image (click to enlarge)
Click to Enlarge Name: skyeast.JPG Size: 179 KB


and this is straighthold
Attached Image (click to enlarge)
Click to Enlarge Name: straighthold.JPG Size: 177 KB


see the difference
  • #60,799
  • Apr 8, 2008 2:20am Apr 8, 2008 2:20am
Quoting T 1 Ti
this is skyeast
Attachment

and this is straighthold
Attachment

see the difference
Hi t1 Ti,
What are those lines on your charts - looks very interesting. TIA
  • #60,800
  • Apr 8, 2008 2:21am Apr 8, 2008 2:21am
Quoting TraderJR
Not questioning his method, it's brilliant if you can trade just using the ultimate indicator, price action. All other indicators are derivative and to that extent dodgy..

In a practical sense tho, due to server data differences and the somewhat subjective way in which Abuawad's priceline values are determined, I think I will have to widen my "grey area" to 5 pips from a line, previously I've used 3 pips.
Yes I understand.

This server time issue is something that OzFx experienced and what he suggested to his readers were that they perform the analysis on a demo version on the same server time (so they're all on the same page when discussing trades) and they of course trade off their live servers.
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