Forex Trade Alert for – Symbol  GBP/USD.

<Forex Trade Alert for Monday Sep 29, 2008>

On Sep-29-2008 a candlestick formation confirmed a sell signal. A sell signal was also confirmed when this currency pair gbp/usd closed below 1.8279 on Sep-29-2008. 4xGenie Action: ==> Sell this pair at 1.7943. Stop at 1.8705. Wave 5 could drop down to 1.7540 or to 1.6645. The market closed below the middle fibonacci fan line. Prices should find support on the bottom fan line. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Ranges for Monday Sep 29, 2008

The 20 day moving average of the daily trading range is 290 pips and the 60 day moving average of the daily trading range is 208 pips. This shows that volatility has increased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 82.01 percent. This means that if this currency pair does not rise more than 72 pips from the opening price then there is a 82.01 percent chance that this will be an downday.

Monthly Pivots.

The [R3] or the most extreme high trading range is 1.8827.

The [R2] or the extreme high trading range is 1.8636.

The [R1] or the high trading range is 1.8340.

The [P] or pivot point is 1.8149.

The [S1] or the low trading range is 1.7853.

The [S2] or the extreme low trading range is 1.7662.

The [S3] or the most extreme low trading range is 1.7366.

Next Day Alternate Stops for Monday Sep 29, 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 1.8636 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: 1.81

Current Day Trading Session:

New momentum to the downside has just started.

Next Day Trading Session:

If the next day’s close is above 1.8749 then that could be a sign that the current downward momentum is reversing.

Warning: fopen(http://th8.us/api.php?url=http://www.4xgenie.com/wp/255/forex-trade-alert-for-gbpusd-sell/&client=Tweet+This+v1.3.9&format=simple) [function.fopen]: failed to open stream: Connection refused in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 29

Warning: fread(): supplied argument is not a valid stream resource in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 30

Warning: fclose(): supplied argument is not a valid stream resource in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 30

Warning: fopen(http://th8.us/api.php?url=http://www.4xgenie.com/wp/255/forex-trade-alert-for-gbpusd-sell/&client=Tweet+This+v1.3.9&format=simple) [function.fopen]: failed to open stream: Connection refused in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 29

Warning: fread(): supplied argument is not a valid stream resource in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 30

Warning: fclose(): supplied argument is not a valid stream resource in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 30

Warning: fopen(http://th8.us/api.php?url=http://www.4xgenie.com/wp/255/forex-trade-alert-for-gbpusd-sell/&client=Tweet+This+v1.3.9&format=simple) [function.fopen]: failed to open stream: Connection refused in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 29

Warning: fread(): supplied argument is not a valid stream resource in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 30

Warning: fclose(): supplied argument is not a valid stream resource in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 30

Warning: fopen(http://th8.us/api.php?url=http://www.4xgenie.com/wp/255/forex-trade-alert-for-gbpusd-sell/&client=Tweet+This+v1.3.9&format=simple) [function.fopen]: failed to open stream: Connection refused in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 29

Warning: fread(): supplied argument is not a valid stream resource in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 30

Warning: fclose(): supplied argument is not a valid stream resource in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 30

Warning: fopen(http://th8.us/api.php?url=http://www.4xgenie.com/wp/255/forex-trade-alert-for-gbpusd-sell/&client=Tweet+This+v1.3.9&format=simple) [function.fopen]: failed to open stream: Connection refused in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 29

Warning: fread(): supplied argument is not a valid stream resource in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 30

Warning: fclose(): supplied argument is not a valid stream resource in /home/bxgenie3/public_html/wp/wp-content/plugins/tweet-this/tweet-this.php on line 30

Subscribe to 4xGenie Insiders
Like what you see? Then subscribe to 4xGenie Insiders and reap big benefits! By subscribing to my free 4xGenie Insiders email list, you will regularly receive special member-only insider information, discounts and freebies. You will also be notified when new articles are posted here at the blog. It's absolutely free to subscribe, and you can leave the list at any time. For subscribing today, I will give you a valuable free gift as well!
Name:
Email:
Powered by Optin Form Adder

Tweet This Post