Forex Trade Alert for - Symbol GBP/JPY.
Forex Trade Alert for Thursday  Jun 26, 2008.
The fourth wave may be near completion. Look for a fifth wave to form soon. We are trying to cash in.
 On Jun-26-2008 a candlestick formation confirmed a sell signal. 4xGenie Action: ==> Sell this Pair at 106.46. Stop at 108.71. Wave 4 could drop down to 105.15 or to 102.84. NOTE: The width of the Bollinger Bands is expanding which indicates that prices are trending. The CCI is above 100. This Pair USD/JPY is overbought at this time.
Next Day Trading Ranges for Thursday Jun 26, 2008.
The 20 day moving average of the daily trading range is 106 pips and the 60 day moving average of the daily trading range is 115 pips. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 61.54 percent. This means that if this currency pair usd/jpy does not drop more than 26 pips from the opening price then there is a 61.54 percent chance that this will be an upday.
Monthly Pivots Points.
The [R3] or the most extreme high trading range is 109.37.
The [R2] or the extreme high trading range is 108.78.
The [R1] or the high trading range is 107.80.
The [P] or pivot point is 107.21.
The [S1] or the low trading range is 106.23.
The [S2] or the extreme low trading range is 105.64.
The [S3] or the most extreme low trading range is 104.66.
Next Day Alternate Stops for Thursday Jun 26, 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 108.15 then that would show momentum against 4xGENIE‘S short position and that would be a break out to the upside.
 Current Day Trading Session:
No signs of downward momentum at this time.
Next Day Trading Session:
If the next day’s close is below 106.46 then that could be a sign that new downward momentum is beginning.
Blogsphere: TechnoratiFeedsterBloglines
Bookmark: Del.icio.usSpurlFurlSimpyBlinkDigg
RSS feed for comments on this post | TrackBack URI for this post
2 Responses to 'FOREX TRADE ALERT USD/JPY SELL'
Leave a Reply
- August 2008 (8)
- July 2008 (16)
- June 2008 (13)
- May 2008 (12)
- April 2008 (15)
- March 2008 (2)
- December 2007 (3)
- November 2007 (56)
[...] Original post by Forex Genie [...]
[...] Fundamental Market View wrote an interesting post today onHere’s a quick excerpt Forex Trade Alert for - Symbol GBP/JPY. Forex Trade Alert for Thursday  Jun 26, 2008. The fourth wave may be near completion. Look for a fifth wave to form soon. We are trying to cash in.  On Jun-26-2008 a candlestick formation confirmed a sell signal. 4xGenie Action: ==> Sell this Pair at 106.46. Stop at 108.71. Wave 4 could drop down to 105.15 or to 102.84. NOTE: The width of the Bollinger Bands is expanding which indicates that prices are trending. The CCI is above 100. This Pair US [...]