I got down with the GBP!! Did you?

Good evening Ladies and Gentlemen

I could not even begin to think about starting my contributions without showing my eternal appreciation to Javid and Anne for the impact they have had on my life. It has been an amazing and enlightening journey to now and my future is extremely exciting. I could also not progress without saying a huge thank you to my cousin, Imran, who was brave to take the risks over the last 2 years that I would never have done. It's because of him I am now contributing to this website, something that honestly was not even a ripple in my wildest dreams a year ago. So Imran, Javid and Anne (in NO particular order), you are all a great inspiration to me and I thank you for where I am today!! I would also like to say a quick thank you to the other contributers SJ, BS, CF, JM and RM for their amazing updates. My trading day never starts without reading what you have to say and have been a great help in my improvement and understanding of the FOREX market. I am honoured to be given this opportunity to be amongst you and hope that my updates will be able help the readers in exactly the same way you have helped me.

At the moment, I am definately a day trader and feel it has given me a greater understanding of the markets. Today I made 200 pips on the GBPUSD so lets have a look at how i did that. Well done to those who managed to get some of the love on offer.

For the regular readers of the DT websites, this is one chart that should definately have been on your watch list. Jedi Master, BS, mentioned this pair on 26.02.09 with a break out of the squeeze on the daily chart. Swing traders in the know would have employed the ESLT to avoid a FB.

The smart money amongst us will always look for a confluence of events for a good entry to give our trade the beat chance of success. A perfect set up is a 123886 with a divergence on MACD! See if you can spot where I looked for my spoils on the 5 minute chart below and from there on managed my trade! What did RSI do when I went short? Again people with the right training should know the significance of round numbers and S and R lines!! Look at the price where I went short and also where we ended up at the close of the trading day! Something you may have predicted if you had done your analysis before hand!!

Whether aggressive or conservative, there is no right or wrong answer. Trade according to you own personal style! However, the most important aspect is to do, trust and learn from your own analysis!

Total Abundance is your birth right

Zaheer Anwari