Trade Alert for Tuesday Apr 01, 2008

On Apr-01-2008 a candlestick formation confirmed a sell signal. 4XGENIE‘S Action: ==> Sell this PAR at 1.1511. Stop at 1.1665. Wave 3 could drop down to 1.1242 or to 1.0989.

MONTHLY PIVOT ALERT: The monthly pivot point has been tested recently. Support level of 1.1570 was broken today. When the monthly pivot point is broken – we can look for a possible drop to the monthly S1.

Next Day Trading Ranges for Tuesday Apr 01, 2008

The 20 day moving average of the daily trading range is 0.0107 and the 60 day moving average of the daily trading range is 0.0101. This shows that volatility has increased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 43.05 percent. This means that if this security or future does not rise more than 0.0027 from the opening price then there is a 43.05 percent chance that this will be an downday.

The [R3] or the most extreme high trading range is 1.1739.

The [R2] or the extreme high trading range is 1.1695.

The [R1] or the high trading range is 1.1607.

The [P] or pivot point is 1.1563.

The [S1] or the low trading range is 1.1475.

The [S2] or the extreme low trading range is 1.1431.

The [S3] or the most extreme low trading range is 1.1343.

Next Day Alternate Stops for Tuesday Apr 01, 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 1.1695 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.

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