Archive for November, 2007
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The width of the Bollinger Bands has started to narrow which indicates that prices are beginning to consolidate. The CCI is below -100. This commodity or security is oversold at this time
Current Day Trading Session:
Momentum is continuing downward at the present time.
MONTHLY PIVOT ALERT: Resistance level of 98.6433 was broken today. When the monthly pivot point is broken - we can look for a possible rise to the monthly R1 ( resistance level 1).The [R3] or the most extreme high trading range is 101.1900.
The [R2] or the extreme high trading range is 100.4900.
The [R1] or the high trading range is 99.6800.
The [P] or pivot point is 98.9800.
The [S1] or the low trading range is 98.1700.
The [S2] or the extreme low trading range is 97.4700.
The [S3] or the most extreme low trading range is 96.6600.
Wave 3 could rise up to 104.2900 or to 107.2654. The resistance level of 98.8341 was broken when prices closed above the bottom pitchfork line. The market has moved back into the trading channel. NOTE: The width of the Bollinger Bands has started to narrow which indicates that prices are beginning to consolidate.
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Maintain long position. Stop at 161.50. Wave 3 could rise up to 177.1800 or to 184.1986. The width of the Bollinger Bands is expanding which indicates that prices are trending. The CCI has crossed above -100. Look for rising prices soon.
The [R3] or the most extreme high trading range is 166.6467.
The [R2] or the extreme high trading range is 165.4833.
The [R1] or the high trading range is 164.1767.
The [P] or pivot point is 163.0133.
The [S1] or the low trading range is 161.7067.
The [S2] or the extreme low trading range is 160.5433.
The [S3] or the most extreme low trading range is 159.2367
Next Day Trading Ranges
The 20 day moving average of the daily trading range is 1.8385 and the 60 day moving average of the daily trading range is 1.8987. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 77.44 percent. This means that if this security or future does not drop more than 0.4596 from the opening price then there is a 77.44 percent chance that this will be an upday.
The [R2] or the extreme high trading range is 167.3267.
The [R1] or the high trading range is 166.2933.
The [P] or pivot point is 165.1267.
The [S1] or the low trading range is 164.0933.
The [S2] or the extreme low trading range is 162.9267.
The Momentum Indicator and ( Harami ) candlestick pattern indicate a reversal may be coming. It may be wise to exit this trade. The width of the Bollinger Bands has started to expand which indicates that prices are beginning to trend. A divergence in the MACD indicator has been found. The current upward trend may soon correct or end. The CCI is above 100. This Market is overbought at this time.
Montly Pivots
The [R3] or the most extreme high trading range is 0.9490.
The [R2] or the extreme high trading range is 0.9445.
The [R1] or the high trading range is 0.9361.
The [P] or pivot point is 0.9316.
The [S1] or the low trading range is 0.9232.
The [S2] or the extreme low trading range is 0.9187.
The [S3] or the most extreme low trading range is 0.9103.
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MONTHLY PIVOTS
The [R3] or the most extreme high trading range is 108.3567.
The [R2] or the extreme high trading range is 107.4633.
The [R1] or the high trading range is 106.9867.
The [P] or pivot point is 106.0933.
The [S1] or the low trading range is 105.6167.
The [S2] or the extreme low trading range is 104.7233.
The [S3] or the most extreme low trading range is 104.2467
Forex trading has gained tremendously in interest and popularity in recent years mostly due to the introduction of automatic and automated forex trading systems. The market that was open to banks and similar big financial institutions is now luring medium and even small investors.
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The Forex market is to be regarded as a massive market that involves almost $1 trillion dollars every day; outstanding possibilities are offered to every investor and the Forex trading reviews show that the intrepid private investor is may take full advantage of the existing transactions if he manages to choose the broker he really needs. Every investment should be timed correctly and the investor should learn how to use the leveraged nature of his future investments on the Forex market.
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Foreign exchange risk is a potential gain or loss that occurs as a result of a change in exchange rate. In order to minimize the possibility of financial loss, every investor needs to adopt some forex risk management measures.
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- November 2008 (4)
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- April 2008 (15)
- March 2008 (2)
- December 2007 (3)
- November 2007 (56)
