Forex Trade Alert for – Symbol = GBP/CHF.

<Forex Trade Alert for Tuesday Apr 07, 2009>

On Apr-07-2009 a candlestick formation confirmed a sell signal. 4xGenie Action: Sell this currency pair GBP/CHF at 1.6637. Stop at 1.7056. Wave 3 could drop down to 1.6457 or to 1.5947. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI has crossed below 100. Look for falling prices soon.

Next Day Trading Ranges for Tuesday Apr 07, 2009.

The 20 day moving average of the daily trading range is 254 Pips and the 60 day moving average of the daily trading range is 303 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 65.54 percent. This means that if this currency pair does not rise more than 64 Pips from the opening price then there is a 65.54 percent chance that this will be an downday.

Monthly Pivots.

The [R3] or the most extreme high trading range is 1.6893.

The [R2] or the extreme high trading range is 1.6840.

The [R1] or the high trading range is 1.6758.

The [P] or pivot point is 1.6704.

The [S1] or the low trading range is 1.6622.

The [S2] or the extreme low trading range is 1.6569.

The [S3] or the most extreme low trading range is 1.6487.

Next Day Alternate Stops for Tuesday Apr 07, 2009.

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 1.6840 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: 1.6557

Current Day Trading Session:

No signs of downward momentum at this time.

Next Day Trading Session:

If the next day’s close is below 1.6637 then that could be a sign that new downward momentum is beginning.

4xGenie Support Team.

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