FOREX TRADE ALERT
Professional Forex 4xGenie’s Summary Report For GBP/USD
5th Elliott Wave Dn Short GBPUSD Symbol: GBPUSD
As of Nov-06-2008
Market has closed below the 1.7446 level. 4xGenie’s Action: ==> Maintain short position. Price projection of 1.6485 has been reached. Stop at 1.6670. NOTE: A consolidation of price movement or a price correction may be underway.
Next Day Trading Range.. High: 1.5883 Low: 1.5794
Next Day Breakout Points High: 1.5937 Low: 1.5759
Price Projections……. 1st: 1.7320 2nd: 1.6808
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 !!!!!!!!
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