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Re: FUTR - British Pound



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I have the daily BP combined sessions, unadjusted perpetual in a bear trend
without a significant time target until 22Nov. OBV is confirming the
decline. I don't see anything at the moment which would entice me to go
long. I have JY weekly at a probably w5 termination of the bull trend and
very significant time targets this week. US$ shows mixed trends on daily and
weekly, however daily shows US$ in a very strong w3
rally.

Earl

----- Original Message -----
From: Warren Goldstein <warren53@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxx>
Sent: Monday, November 08, 1999 4:59 PM
Subject: FUTR - British Pound


> Hi RT's,
>
> I see the Dec. British Pound ending it's correction here, and beginning a
> sharp 3 week rally to 16900.
>
> My analysis:
>
> Cycle bottom due Nov. 5-8. Cycle top due Nov. 26-29.
>
> Terminal weekly swing bottom on July 9, 1999 at 15496. Penultimate weekly
> swing top on June 11, 1999 at 16198.
> Weekly swing target = 16198 + (16198 - 15496), = 16900.
>
> Terminal daily swing bottom on Nov. 8, 1999 at 16144. Penultimate daily
> swing top on Nov. 3, 1999 at 16520.
> Daily swing target = 16520 + (16520 - 16150), = 16896.
>
> Bull market retracement:
> Terminal swing bottom on July 9, 1999 at 15496. Terminal swing top on Oct.
> 21, 1999 at 16798.
> Correction target = 50% x (16798 - 15496), = 16147.
>
> I always enter and exit 1 tick before my targets, and also 1 tick before
> round numbers.
> I placed a buy order at 16152. The low on Friday was 16150, and today at
> 16144, and as a result, I'm long.
> My stop for the moment is at 15984, and I plan to raise it in the near
> future.
>
> The cycle analysis is my own derivation, but loosely based on Welles
> Wilder's Delta Phenomenon.
>
> Comments welcome.
>
> Warren Goldstein
> Commodity Trading Advisor (registration pending).
> Email: wsg@xxxxxxxxxxxxxxxxxx
> Website: www.wsginvestments.com
>
>