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Cable Update (GBPUSD)

  • #61,101
  • Apr 9, 2008 4:45pm Apr 9, 2008 4:45pm
Quoting tomaz55
have the impression we might see 9850 tomorrow..

u know the reason i say down is because the new daily candle has to be bearish in 3 hrs time..this should start a downward movement ..or at least it better thats what im thinking ...
  • #61,102
  • Apr 9, 2008 4:53pm Apr 9, 2008 4:53pm
Quoting mike w
It's all about those entries ladies and gents. I'm still really looking to see this hit 1.98 and possibly higher before falling again. That will be a solid entry for me to add to short positions for another large drop in price.

mike i sure hope not, surely in order for that to happen...the 4 hr candle would have to close above 1.9773 which is possible but im thinking more likely down...
  • #61,103
  • Apr 9, 2008 5:14pm Apr 9, 2008 5:14pm
Quoting nAVIN2007
mike i sure hope not, surely in order for that to happen...the 4 hr candle would have to close above 1.9773 which is possible but im thinking more likely down...
After the end of the first hour in Asia, i think the trend is down as it is dropped from 1.9754 to 1.9734. Actually we will confirm this pattern by the end of 4 hours whiich will be 8:00 pm Eastern.

Once the down pattern is gets started which is some what got started already then we could come back to business right!!!!!!!!!!!
  • #61,104
  • Apr 9, 2008 5:33pm Apr 9, 2008 5:33pm
well we opened the day locked above the pivot for the day.(1.9717)..honestly im receiving a bullish signal on the pair but, i will wait to see how the day developes before entering a trade...probably a confirmation above 1.9784 or a confirmation below 1.9717..

anyone wanna share their plans on the pair for today.
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #61,105
  • Apr 9, 2008 5:39pm Apr 9, 2008 5:39pm
Still in my short from 1.9903 and targeting 1.94 by at least the end of the month. Today we saw the return move to the bottom of the descending triangle that we broke out of tuesday. Hopefully with tomorrows interest rate announcement we will see a continuation of the breakout with the first support around 1.9650 and on down towards the 1.94 region. I will be looking for clues from the BOE for further direction.
  • #61,106
  • Apr 9, 2008 5:42pm Apr 9, 2008 5:42pm
Quoting asyed4
After the end of the first hour in Asia, i think the trend is down as it is dropped from 1.9754 to 1.9734. Actually we will confirm this pattern by the end of 4 hours whiich will be 8:00 pm Eastern.

Once the down pattern is gets started which is some what got started already then we could come back to business right!!!!!!!!!!!
so long as in the next 1hr and a bit movement up is restricted the next daily has to be bearish and then....people will sell and we should move downhill....i think and hope so no matter what if this trade fail im back on demo to get better understanding of what the hell is going on ....
  • #61,107
  • Apr 9, 2008 5:45pm Apr 9, 2008 5:45pm
Quoting Maxsmart
Still in my short from 1.9903 and targeting 1.94 by at least the end of the month. Today we saw the return move to the bottom of the descending triangle that we broke out of tuesday. Hopefully with tomorrows interest rate announcement we will see a continuation of the breakout with the first support around 1.9650 and on down towards the 1.94 region. I will be looking for clues from the BOE for further direction.
yeah thats cool im targetting low .9600 comming with the interest rate anouncement, im long since 1.9912...receive a confirmation below 1.9900 and placed a second order ...currently i got 3 orders rolling ....
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #61,108
  • Apr 9, 2008 5:47pm Apr 9, 2008 5:47pm
Sorry, cant get my chart posted. But i see bullish divergence on MACD, showing signs of a breakout. I will be waiting to see which side of the recent daily channel it breaks out of before entering. Careful, the BoE is making interest rate decision within 12 hours. It will be interesting to see which way they go. IMHO i believe they will cut by .5.
The customer is always right!
  • #61,109
  • Apr 9, 2008 5:48pm Apr 9, 2008 5:48pm
Quoting got pips?
yeah thats cool im targetting low .9600 comming with the interest rate anouncement, im long since 1.9912...receive a confirmation below 1.9900 and placed a second order ...currently i got 3 orders rolling ....

nice one buddy ......hopefully one of these days i can find trade just like that
  • #61,110
  • Apr 9, 2008 5:51pm Apr 9, 2008 5:51pm
Quoting got pips?
yeah thats cool im targetting low .9600 comming with the interest rate anouncement, im long since 1.9912...receive a confirmation below 1.9900 and placed a second order ...currently i got 3 orders rolling ....
Do you mean long or short?
  • #61,111
  • Apr 9, 2008 5:53pm Apr 9, 2008 5:53pm
Quoting nAVIN2007
so long as in the next 1hr and a bit movement up is restricted the next daily has to be bearish and then....people will sell and we should move downhill....i think and hope so no matter what if this trade fail im back on demo to get better understanding of what the hell is going on ....
As I just saw the bit movement is down and creates a low as 1.9724 which will be a good sign and if touches our pivot of the day which was 1.9700 then we back to business Hurrreeeeeeeee...........
  • #61,112
  • Apr 9, 2008 5:53pm Apr 9, 2008 5:53pm
Quoting nAVIN2007
nice one buddy ......hopefully one of these days i can find trade just like that
thank man...just keep at it...
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #61,113
  • Apr 9, 2008 5:55pm Apr 9, 2008 5:55pm
Quoting Maxsmart
Do you mean long or short?
short...lol
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #61,114
  • Apr 9, 2008 6:33pm Apr 9, 2008 6:33pm
Okay UK's interest rate announcement tommorow.

So last time they didn't cut, what did the market do ???

And last time they did cut, what did the market do ???

March 6th was no change.

Feb 7th they cut!!

Going back on the charts.


Nothing worth noting either day, market sold off over the night before the cut, but might of been other factors, no cut caused a run which chopped around like crazy but ultimately went no where.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,115
  • Apr 9, 2008 6:51pm Apr 9, 2008 6:51pm
Quoting Turveyd
Okay UK's interest rate announcement tommorow.

So last time they didn't cut, what did the market do ???

And last time they did cut, what did the market do ???

March 6th was no change.

Feb 7th they cut!!

Going back on the charts.


Nothing worth noting either day, market sold off over the night before the cut, but might of been other factors, no cut caused a run which chopped around like crazy but ultimately went no where.

I wasn't around back then. Could you please tell me how the market reacted to the Feb cut and the March no cut? Thanks.
Expected the unexpected
  • #61,116
  • Apr 9, 2008 6:58pm Apr 9, 2008 6:58pm
Quoting Turveyd
Okay UK's interest rate announcement tommorow.

So last time they didn't cut, what did the market do ???

And last time they did cut, what did the market do ???

March 6th was no change.

Feb 7th they cut!!

Going back on the charts.


Nothing worth noting either day, market sold off over the night before the cut, but might of been other factors, no cut caused a run which chopped around like crazy but ultimately went no where.
I want to continue this concept that the market sold off over the night before the cut with the following news just came out at FXCM:

23:06 UK GDP Slowed To 0.5% In 3-Months To March From 0.6% - NIESR Sydney, April 10: According to an estimate from NIESR, UK GDP growth slowed to 0.5% in the three months to March from 0.6% in the three months to February. -- [email protected]

there is another news at 3:30 central time and that is brown news but it may impact the GBP down.....

We have to be very consistent tonight in terms of PT level as there might be other causes including the above that would take Cable already down so we don't have to be overwehlemed for Announcement at 6:00 am. I had a December cut experience that on the same night there was Helifax news and Cable dropped already 200 pips and after the cut it just dropped 50-60 pips.

We just have to keep the PT level very reasonable and profitable so may I ask you guys what is your PT level because it has to be very meaningful because I also knew that when Cable dropped then the reversal time would be very short and if we have PT level very low then it might not be triggered.
My trades are not long term trade. Mine are short term trade and I would like to be out on the same hour of the news.

My Entry levels are around 1.9677 - 1.9690 so I think I can put PT level as 1.9580 and 1.9575. I am not asking you to tell me the exact PT level but what is your opinion based on the other causes that might take Cable down before the news so our PT level doesn't have to be very low or doesn't have to be very far enough to not to catch up....
  • #61,117
  • Apr 9, 2008 7:14pm Apr 9, 2008 7:14pm
Quoting manize
Just learn to guesss the unknown area limit what Master Abuawad will forecast for 10 - 04 - 2008. Horizontal line can be chosen as the 1st target.

Playing scalpe in the unknown area, got 40 pips. 1 long and 2 short !
Nice guess
Attached Image
  • #61,118
  • Apr 9, 2008 7:33pm Apr 9, 2008 7:33pm
Okay why have they just dumped USD's again at night, when no one is around, its the old fake run it up then sell it back, so expect GBP to go down again!!

More annoyingly, I held long for 5hours yesterday, do you think they could bother to do it then, hell no
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,119
  • Apr 9, 2008 7:46pm Apr 9, 2008 7:46pm
Gettrendz, actually looking at the signals past sent out, thats not to bad.

I'll give it a trial for 7days, if liked I'll setup loads of free Googlemail addresses LOL $280 is abit steep for me monthly, but it's a backup plan incase I slip back into bad trading
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,120
  • Apr 9, 2008 7:49pm Apr 9, 2008 7:49pm
Quoting Abuawad
Nice guess
How to use the template

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

Right click on the chart, select Templates, Abuawad

Lines will appear on the chart which match Abuawad's values and colour scheme (if not, restart MT4, open GBP/USD and try again)

Unknown Area Limits UALs are solid yellow lines, T1 thru T3 (capital T) are solid lines, Support/Resistance (S/R) lines are dotted, appropriately coloured.

To change the appearance of any line: Double-click to select it (dots appear on each end), right-click on the line, select Horizontal Line properties, go to Common, Style. Double-click to unselect it when finished.
Attached File(s)
File Type: tpl Abuawad .tpl   3 KB | 369 downloads
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