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GPB/USD in the Bermuda Triangle - Pt. III & Final

Posted on May 29th, 2008 at 11:25 AM

As you will soon see, it pays to do your homework.

Let's see what happened with the charts since posting Parts I & II of the 'GBP/USD in the Bermuda Triangle'.

If the Dollar Index (DX A0) trade been taken, you would have entered long at around 72.110 with a stop loss at around 71.750. Reviewing the Fibonacci Derivative levels, the closest that the US Dollar got to the green .786 level of 71.757 was 71.823. The risk reward factor on the trade was 7.3:1. As of today, it has met the 3:1 level.

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