Forex Trade Alerts USD/CHF

Forex Trade Alert for USD/CHF.

Important Notice:

When trading it is important to know your risks. If you have only been trading for a short time it is highly recommended that you start with a demo account first.
Forex trading is highly risky and normally it takes 3 - 5 years to become a successful forex trader. Only risk that which you can easily afford to lose.
Forex trading is not a get rich quick scheme, but if managed carefully, it is an excellent investment.

REMEMBER: NEWS OVERRIDES TECHNICAL ANALYSES !!!!!!!!

http://www.4xgenie.com/News_Charts.html

Trade Alert for Thursday Jul 03, 2008.

On Jul-03-2008 a candlestick formation confirmed a buy signal. ForexGenie Action: ==> Buy this Currency Pair USD/CHF at 1.0312. Stop at 1.0030. Wave 3 could rise up to 1.0665 or to 1.0845. NOTE: A consolidation of price movement or a price correction may be underway. The CCI has crossed above -100. Look for rising prices soon.

Next Day Trading Ranges for Thursday Jul 03, 2008.

The 20 day moving average of the daily trading range is 140 Pips and the 60 day moving average of the daily trading range is 138 Pips. This shows that volatility has increased in the short term. The percentage of updays when the open/low ratio is less than 25% is 77.78 percent. This means that if this Currency Pair does not drop more than 35 Pips from the opening price then there is a 77.78 percent chance that this will be an upday.

Monthly Pivots.

The [R3] or the most extreme high trading range is 1.0501.

The [R2] or the extreme high trading range is 1.0392.

The [R1] or the high trading range is 1.0330.

The [P] or pivot point is 1.0221.

The [S1] or the low trading range is 1.0159.

The [S2] or the extreme low trading range is 1.0050.

The [S3] or the most extreme low trading range is 0.9988.

Next Day Alternate Stops for Thursday Jul 03, 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 drops below 1.0050 then that would show momentum against 4xGenie’s long position and that would be a break out to the downside.

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: 1.0200.

Current Day Trading Session:

No signs of upward momentum at this time.

Next Day Trading Session:

If the next day’s close is above 1.01577 then that could be a sign that new upward momentum is beginning.