Archive for June, 2008
Forex Trade Alert for - Symbol GBP/JPY.
Forex Trade Alert for Thursday Jun 26, 2008.
The fourth wave may be near completion. Look for a fifth wave to form soon. We are trying to cash in.
On Jun-26-2008 a candlestick formation confirmed a sell signal. 4xGenie Action: ==> Sell this Pair at 106.46. Stop at 108.71. Wave 4 could drop down to 105.15 or to 102.84. NOTE: The width of the Bollinger Bands is expanding which indicates that prices are trending. The CCI is above 100. This Pair USD/JPY is overbought at this time.
Next Day Trading Ranges for Thursday Jun 26, 2008.
The 20 day moving average of the daily trading range is 106 pips and the 60 day moving average of the daily trading range is 115 pips. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 61.54 percent. This means that if this currency pair usd/jpy does not drop more than 26 pips from the opening price then there is a 61.54 percent chance that this will be an upday.
Monthly Pivots Points.
The [R3] or the most extreme high trading range is 109.37.
The [R2] or the extreme high trading range is 108.78.
The [R1] or the high trading range is 107.80.
The [P] or pivot point is 107.21.
The [S1] or the low trading range is 106.23.
The [S2] or the extreme low trading range is 105.64.
The [S3] or the most extreme low trading range is 104.66.
Next Day Alternate Stops for Thursday Jun 26, 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 108.15 then that would show momentum against 4xGENIE‘S short position and that would be a break out to the upside.
Current Day Trading Session:
No signs of downward momentum at this time.
Next Day Trading Session:
If the next day’s close is below 106.46 then that could be a sign that new downward momentum is beginning.
Forex Trade Alert for - Symbol EUR/JPY.
Forex Trade Alert for Wednesday, Jun 25, 2008.
Forex UPDATE.
EUR/JPY - SETUP for All Time HIGH !!
Market is holding above the 164.98 level.On May-13-2008 We Call to BUY currency pair EUR/JPY at 161.50 (+700 pips). 4xgenie Action: ==> Maintain long position. Trailling Stop at 167.05. Wave 3 could rise up to 171.8700 or to 176.9088. NOTE: The width of the Bollinger Bands has started to narrow which indicates that prices are beginning to consolidate. A divergence in the MACD indicator has been found. The current upward trend may soon correct or end. The CCI is above 100. This currency pair is overbought at this time. For a short term trade, we looking to take short position, wave 4, and try to enter long, wave 5.
MONTHLY PIVOT ALERT: Resistance level of 168.2967 was broken today. When the monthly R2 ( resistance level 2 ) is broken - we can look for a possible rise to the monthly R3 ( resistance level 3). This is extremely bullish.
Next Day Trading Ranges for Wednesday Jun 25, 2008.
The 20 day moving average of the daily trading range is 132 pips and the 60 day moving average of the daily trading range is 147 pips. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 48.73 percent. This means that if this pair does not drop more than 33 from the opening price then there is a 48.73 percent chance that this will be an upday.
The [R3] or the most extreme high trading range is 171.03.
The [R2] or the extreme high trading range is 170.09.
The [R1] or the high trading range is 169.51.
The [P] or pivot point is 168.57.
The [S1] or the low trading range is 167.99.
The [S2] or the extreme low trading range is 167.05.
The [S3] or the most extreme low trading range is 166.47.
Next Day Alternate Stops for Wednesday Jun 25, 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 167.05 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.
Current Day Trading Session:
Momentum is continuing upward at the present time.
Next Day Trading Session:
If the next day’s close is below 167.07 then that could be a sign that the current upward momentum is reversing.
STRADDLE EUR/USD
Nice STRADDLE Set-Up for EUR/USD
Place 2 seperate limit orders simultaneously. First order is for buy only, with a stop and limit provided. Second order is for sell only, with a stop and limit provided. Only one order will be executed. Make sure to cancel the other order once you see that the other is executed.
ORDER #1 - LONG EUR/USD
BUY @ 1.5599
STOP @ 1.5569
LIMIT @ 1.5609
ORDER #2 SHORT EUR/USD
SELL @ 1.5539
STOP @ 1.5569
LIMIT @ 1.5529
For more information how I Trade FOREX STRADDLE
http://www.4xgenie.com/Trading%20Strategys.html#Alert%20system%20#4
4xgenie.com
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FOREX CURRENCY EUR/USD and GOLD OUTLOOK
GOLD AND EURO HAVE MOVED IN SYNK.
SPOT GOLD
Spot gold is likely to respect support at $850. Upward breakout from the bullish falling wedge pattern would test resistance at $950 — and possibly $1000. In the longer term, breakout below $850 would signal a primary down-trend but, considering the weakness of the dollar and the strength of oil, this remains unlikely.
FOREX CURRENCY PAIR EUR/USD.
The euro successfully tested primary support at $1.53, but the pattern remains bearish unless there is a breakout above $1.5850. A rally that fails to reach the resistance level would strengthen the bear signal. In the longer term, failure of support at $1.53 would test the rising trendline at $1.43, while breakout above $1.60 would offer a target of $1.67. Further consolidation between $1.60 and $1.53, however, remains the most likely option.
MOUNTHLY PIVOT POINTS.
The [R3] or the most extreme high trading range is 1.5692.
The [R2] or the extreme high trading range is 1.5639.
The [R1] or the high trading range is 1.5572.
The [P] or pivot point is 1.5519.
The [S1] or the low trading range is 1.5452.
The [S2] or the extreme low trading range is 1.5399.
The [S3] or the most extreme low trading range is 1.5332.
Current Day Trading Session:
New momentum to the upside has just started.
Next Day Trading Session:
If the next day’s close is below 1.53627 then that could be a sign that the current upward momentum is reversing.
4xGenie is not currently in a trade, we looking to enter long position soon!
FOREX GENIE.
Forex Trade Alert for - Symbol CHF/JPY.
Forex Trade Alert for Thursday Jun 19, 2008.
Considering the past week’s CHF strength, a long entry on this pair would obviously be folly at the moment. In fact, a break to the downside of the dayly channel upper TL would make a strong case for a short entry.
In this particular case if the price rises above 104.50 then that would show momentum against 4xgenie‘s short position and that would be a break out to the upside.
The CCI is above 100. This Pair GBP/JPY is overbought at this time.
SELL CHF/JPY at 102.96.
STOP CHF/JPY at 104.50.
1/3 LIMIT CHF/JPY at 102.01.
CHF/JPY TARGET at 100.59.
Price is moving nicely within channel.
It is also interesting to note that, by observing CHF/JPY’s price action within the channel it becomes evident that its upward momentum has hardly been affected by the past few months.The swings within this channel are not much more drastic now than in 2003/04/05.
Monthly Pivots Points.
The [R3] or the most extreme high trading range is 105.35.
The [R2] or the extreme high trading range is 103.35.
The [R1] or the high trading range is 102.28.
The [P] or pivot point is 100.29.
The [S1] or the low trading range is 99.21.
The [S2] or the extreme low trading range is 97.21.
The [S3] or the most extreme low trading range is 96.14.
Current Day Trading Session:
No signs of downward momentum at this time.
Next Day Trading Session:
If the next day’s currency pair chf/jpy close is below 102.96 then that could be a sign that new downward momentum is beginning.
Forex Trade Alert for - Symbol USD/CAD.
Forex Trade Alert for Thursday Jun 19, 2008.
On Jun-19-2008 a protrader formation confirmed a sell signal for currency pair USD/CAD. A sell signal was also confirmed when this pair closed below 1.01720 on Jun-19-2008. 4xgenie Action: ==> Sell this pair at 1.0151. Stop at 1.0329. Wave 4 could drop down to 0.9971. NOTE: The width of the Bollinger Bands is expanding which indicates that prices are trending. The CCI is above 100. This par is overbought at this time.
FX MARKET RECAP FOR Jun 19.2008
Important Notice.
Forex Traders.
When trading Forex it is important to know your risks. If you have only been trading Forex for a short time it is highly recommended that you start with a demo FX account first. Forex trading is highly risky and normally it takes 3 - 5 years to become a successful forex trader. Only risk that which you can easily afford to lose. Forex trading is not a get rich quick scheme, but if managed carefully, it is an excellent investment.
REMEMBER: fx NEWS OVERRIDES TECHNICAL ANALYSES !!!!!!!!
http://www.4xgenie.com/News_Charts.html
Important Forex Notice:
When trading it is important to know your risks. If you have only been trading for a short time it is highly recommended that you start with a Forex demo account first. Forex trading is highly risky and normally it takes 3 - 5 years to become a successful forex trader. Only risk that which you can easily afford to lose. Forex trading is not a get rich quick scheme, but if managed carefully, it is an excellent investment.
REMEMBER: FOREX NEWS OVERRIDES TECHNICAL ANALYSES !!!!!!!!
http://www.4xgenie.com/News_Charts.html
Forex Trade Alert for - Symbol EUR/CHF.
Forex Trade Alert for Thursday Jun 12, 2008.
On Jun-12-2008 a candlestick formation confirmed a buy signal. 4xgenie Action: ==> Buy this currency pair at 1.6159. Stop at 1.6007. Wave 3 could rise up to 1.6600 or to 1.7082. NOTE: 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.
TRENDLINE ALERT for CURRENCY PAIR EUR/CHF: Resistance level of 1.6055 was broken today. Look for a possible rise to the next resistance level.
Next Day Trading Ranges for Thursday Jun 12, 2008.
The 20 day moving average of the daily trading range is 103 pips, and the 60 day moving average of the daily trading range is 106 pips. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 68.92 percent. This means that if this currency pair does not drop more than 26 from the opening price then there is a 68.92 percent chance that this will be an upday.
The [R3] or the most extreme high trading range is 1.6253.
The [R2] or the extreme high trading range is 1.6196.
The [R1] or the high trading range is 1.6135.
The [P] or pivot point is 1.6078.
The [S1] or the low trading range is 1.6017.
The [S2] or the extreme low trading range is 1.5960.
The [S3] or the most extreme low trading range is 1.5899.
Next Day Alternate Stops for Thursday Jun 12, 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 1.5960 then that would show momentum against Forexgenie’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.
Current Day Forex Trading Session:
No signs of upward momentum at this time.
Next Day Trading Session:
If the next day’s close is above 1.6159 then that could be a sign that new upward momentum is beginning.
4xGenie Support Team
Forex Trade Alert for - Symbol USD/CHF.
Forex Trade Alert for Tuesday Jun 10, 2008.
A buy signal was confirmed when this par closed above 1.0387 on Jun-10-2008. 4xgenie Action: ==> Buy this par at 1.0505. Stop at 1.0141. Wave 3 could rise up to 1.0810 or to 1.1068. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI has crossed above -100. Look for rising prices soon.
MONTHLY PIVOT ALERT: Resistance level of 1.0421 was broken today. When the monthly pivot point is broken - we can look for a possible rise to the monthly R1 ( resistance level 1).
Next Day Trading Ranges for Tuesday Jun 10, 2008.
The 20 day moving average of the daily trading range is 140 pips and the 60 day moving average of the daily trading range is 143 pips. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 79.14 percent. This means that if this par does not drop more than 35 from the opening price then there is a 79.14 percent chance that this will be an upday.
The [R3] or the most extreme high trading range is 1.0653.
The [R2] or the extreme high trading range is 1.0546.
The [R1] or the high trading range is 1.0485.
The [P] or pivot point is 1.0378.
The [S1] or the low trading range is 1.0317.
The [S2] or the extreme low trading range is 1.0210.
The [S3] or the most extreme low trading range is 1.0149.
Next Day Alternate Stops for Tuesday Jun 10, 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 1.0210 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.
Current Day Trading Session:
No signs of upward momentum at this time.
Next Day Trading Session:
If the next day’s close is above 1.04390 then that could be a sign that new upward momentum is beginning.
4xGenie Support Team
Forex Trade Alert for - Symbol EUR/CAD.
Forex Trade Alert for Tuesday Jun 10, 2008.
On Jun-10-2008 a candlestick formation confirmed a sell signal. A sell signal was also confirmed when this contract closed below 1.6225 on Jun-10-2008. 4xgenie Action: ==> Sell this contract at 1.5776. Stop at 1.6181. Wave C could drop down to 1.5248 or to 1.5107. NOTE: The width of the Bollinger Bands is expanding which indicates that prices are trending. The CCI is above 100. This par is overbought at this time.
Next Day Trading Ranges for Tuesday Jun 10, 2008.
The 20 day moving average of the daily trading range is 176 pips, and the 60 day moving average of the daily trading range is 192 pips. This shows that volatility has decreased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 64.86 percent. This means that if this par does not rise more than 44 pips from the opening price then there is a 64.86 percent chance that this will be an downday.
The [R3] or the most extreme high trading range is 1.6207.
The [R2] or the extreme high trading range is 1.6123.
The [R1] or the high trading range is 1.5956.
The [P] or pivot point is 1.5872.
The [S1] or the low trading range is 1.5705.
The [S2] or the extreme low trading range is 1.5621.
The [S3] or the most extreme low trading range is 1.5454.
Next Day Alternate Stops for Tuesday Jun 10, 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 1.6123 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.
Current Day Trading Session:
No signs of downward momentum at this time.
Next Day Trading Session:
If the next day’s close is below 1.5776 then that could be a sign that new downward momentum is beginning.
4xGenie Support Team
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