Forex Trade Alert for – Symbol = AUD/NZD

Trade Alert for Tuesday Jan 17, 2010.

On Jan-17-2010 a candlestick formation confirmed a sell signal. 4xGenie Action: ==> SELL @ 1.2506 Stop at 1.2625. Wave 3 could drop down to 1.2195 or to 1.2076. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Ranges for Tuesday Jan 17, 2010.

The [R3] or the most extreme high trading range is 1.2570.

The [R2] or the extreme high trading range is 1.2554.

The [R1] or the high trading range is 1.2535.

The [P] or pivot point is 1.2519.

The [S1] or the low trading range is 1.2500.

The [S2] or the extreme low trading range is 1.2484.

The [S3] or the most extreme low trading range is 1.2465.

Next Day Alternate Stops for Monday Jan 18, 2010

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 1.2554 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 1.2448 then that could be a sign that new downward momentum is beginning.

4xGenie Support Team

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Forex Trade Alert AUD/NZD | SELL SIGNAL

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