On May-14-2008 a candlestick formation confirmed a sell signal. 4xGenie Action: ==> Sell this par at 1.2223. Stop at 1.2342.

Monthly Pivots.

The [R3] or the most extreme high trading range is 1.2823.

The [R2] or the extreme high trading range is 1.2450.

The [R1] or the high trading range is 1.2256.

The [P] or pivot point is 1.1883.

The [S1] or the low trading range is 1.1689.

The [S2] or the extreme low trading range is 1.1316.

The [S3] or the most extreme low trading range is 1.1122.

Next Day Alternate Stops for  May 15, 2008.

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 1.2342 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.