Next Day Trading Ranges for Wednesday May 07, 2008.

The 20 day moving average of the daily trading range is 284 PIPS and the 60 day moving average of the daily trading range is 296 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 68.57 percent. This means that if this PAR does not rise more than 0.7112 from the opening price then there is a 68.57 percent chance that this will be an downday.

The [R3] or the most extreme high trading range is 208.8867.

The [R2] or the extreme high trading range is 207.9133.

The [R1] or the high trading range is 206.2267.

The [P] or pivot point is 205.2533.

The [S1] or the low trading range is 203.5667.

The [S2] or the extreme low trading range is 202.5933.

The [S3] or the most extreme low trading range is 200.9067.

Next Day Alternate Stops for Wednesday May 07, 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 209.29 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: 207.39.

Current Day Trading Session:

New momentum to the downside has just started.

Next Day Trading Session:

If the next day’s close is above 207.39 then that could be a sign that the current downward momentum is reversing.

4xgenie