On May-07-2008 a candlestick formation confirmed a sell signal. 4XGENIE Action: ==> Sell this PAR at 0.7721. Stop at 0.7965. Wave 5 could drop down to 0.7574 or to 0.7450. The PAR closed below the top fibonacci fan line. Prices should find support on the middle fan line. NOTE: A consolidation of price movement or a price correction may be underway.

MONTHLY PIVOT ALERT: The monthly pivot point has been tested recently. Support level of 0.7860 was broken today. When the monthly pivot point is broken - we can look for a possible drop to the monthly S1 ( support level 1).

TRENDLINE ALERT: Support level of 0.7898 was broken today. Look for a possible drop to the next support level.

Next Day Trading Ranges for Wednesday May 07, 2008.

The 20 day moving average of the daily trading range is 93 and the 60 day moving average of the daily trading range is 105. This shows that volatility has decreased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 51.61 percent. This means that if this par does not rise more than 23 from the opening price then there is a 51.61 percent chance that this will be an downday.

The [R3] or the most extreme high trading range is 0.7991.

The [R2] or the extreme high trading range is 0.7955.

The [R1] or the high trading range is 0.7884.

The [P] or pivot point is 0.7848.

The [S1] or the low trading range is 0.7777.

The [S2] or the extreme low trading range is 0.7741.

The [S3] or the most extreme low trading range is 0.7670.

Next Day Alternate Stops for Wednesday May 07, 2008

The red line to the right on your chart is an extreme support or resistence level for the next trading day.

A good alternative stop is one which is placed just beyond this extreme support/resistance level.

In this particular case if the price rises above 0.7965 then that would show momentum against 4xgenie’s short position and that would be a break out to the upside.

Please Note: These support/resistance levels are calculated by using the previous day’s trading range. Normal volatility may cause a breakout of this value once every 4 or 5 days when prices consolidate.

Alternate stop: 0.78

Next Day Trading Session:

If the next day’s close is below 0.7721 then that could be a sign that new downward momentum is beginning.

Next Day Trading Ranges for Monday May 05, 2008

The 20 day moving average of the daily trading range is 83 Pips and the 60 day moving average of the daily trading range is71 Pips. This shows that volatility has increased in the short term. The percentage of updays when the open/low ratio is less than 25% is 89.04 percent. This means that if this PAR does not drop more than 21 from the opening price then there is a 89.04 percent chance that this will be an upday.

The [R3] or the most extreme high trading range is 0.7946.

The [R2] or the extreme high trading range is 0.7910.

The [R1] or the high trading range is 0.7883.

The [P] or pivot point is 0.7847.

The [S1] or the low trading range is 0.7820.

The [S2] or the extreme low trading range is 0.7784.

The [S3] or the most extreme low trading range is 0.7757.

Next Day Alternate Stops for Monday May 05, 2008.

The red line to the right on your chart is an extreme support or resistence level for the next trading day.

A good alternative stop is one which is placed just beyond this extreme support/resistance level.

In this particular case if the price drops below 0.7760 then that would show momentum against 4xGenie’s long position and that would be a break out to the downside.

Please Note: These support/resistance levels are calculated by using the previous day’s trading range. Normal volatility may cause a breakout of this value once every 4 or 5 days when prices consolidate.