Friday, February 09, 2007
GBPUSD revisited
GBPUSD revisited
Just for a little while anyway.
The GBPUSD is what I expect, about to shed a lot of value. The USD looks oversold at this point and in my opinion can only go up in value from here. I expect this pair to shed in upwards of 1000 pips as I have said before. This means a 500% ROI at just 50:1 leverage. Factor in compounding every double, you could see $32000 just from a $1,000 investment. Its not the straight up returns that make people rich, it’s the compounding in and out of investments. I’m already on my third investment into this pair, I think this pair truly has what it takes to make me rich.
A major factor was overcome today, that being the 200 period 3 hour bar, simple moving average of course. The movement through the 200 period MA was as expected, extremely violent with a strong burst over just 30 minutes today. We saw the pair move to the MA then have some remorse and travel back upward for 30-40 pips before slamming back through the MA and even now the GBPUSD remains below the 200 day MA.
So there you have it, yet another “hey look this is for real” deal and a “technical analysis really does work” post. I really do want readers to get in on this, I make nothing from recommending this as the general public doesn’t have enough money to truly move the market like an oversized institution could. AKA the FED.