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Hi RT: First Time Post...
A brief on me: I have been trading for only about 4.5 years and still
have a lot of learning to do. I trade all markets, but most the
British Pound and other currencies. I use Trade Navigator for my
charts. I have been studying Fibonacci techniques taught by Joe
DiNapoli (fibnodes.com). I combine this with Candle Sticks,
divergences, trend lines, and directional patterns. I share this for
two reasons. First is so you know my back ground when I do post, as I
will be doing more of it. Second, it shows how much more I need to
learn, and that I came to the group. I am constantly learning from
all of you, as you have more trading experience than I do. THANK YOU!
Someone will post, and I will spend the next week researching. This
is the only placing I have found that I learn from "Real Traders".
British Pound. I have been shorting the pound sense last Dec when the
primary trend line was breached. I use Gold and the Dollar index as
filters. So, it was nice to see Don's Ewers post on 5/14/08 stating a
move up in gold was underway and in force as long as 845 support held
and an until a target of 920 was reached. This helped me confirm what
I was seeing in my charts (I miss his posts).
Looking forward: Gold has found support at 900 and retesting the June
22 breakout above 900, and the $index is re-testing resistance at
73.3. I was hopping it was going to break again today, but it did
not, and I covered my shorts on the pound this afternoon (for a
profit/ thanks for the head ups Ira). Both of these need to break for
the pound to move lower. Currently, on the 4 hour time frame, I feel
we my see some up side pressure back toward the 1.9870 (.618 and
weekly and monthly pivots), especial if the a,b,c pattern does not
fail. This would also be a trend line retest. This will provide my
next short. This last move down stopped at the weekly down trend line
from the highs of Dec. to the highs of March.
Looking forward again: When the Feb, May and June Support level does
fails at 1.9380, with plenty of stops below from the last move up , I
see a move down to the 1.85's.
So guys; you see, some of use really do lean on the group. With the
help of the group, my trading has improved, and my small account
shows a 30% YTD profit. These are just my thoughts; I would love some
feed back. In the future, I will be less long winded, but how else
will you get to know me? Thanks again. ~kevin
I have uploaded 3 files on the GBP/USD weekly / daily and 4 hour? I
was unable to add them as an attachment ??
--- In realtraders@xxxxxxxxxxxxxxx, "Ira" <mr.ira@xxx> wrote:
>
> I was criticized for my post on the British Pound and the British
housing market. Everyone has that right.
>
> Have a profitable week.
> Ira
> www.delta100.com
>
> No virus found in this outgoing message
> Checked by PC Tools AntiVirus (4.0.0.26 - 10.081.010).
> http://www.pctools.com/free-antivirus/
>
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