FOREX TRADE ALERT for USD/CHF | SELL SIGNAL
Forex Trade Alert for – Symbol USD/CHF.
Forex Trade Alert for Tuesday Jan 27, 2009.
On Jan-26-2009 a candlestick formation confirmed a sell signal. A sell signal was also confirmed when this currency pair USD/CHF closed below 1.1386 on Jan-26-2009. 4xGenie Action: ==> SELL @ 1.1328. Stop at 1.1734. Wave 3 could drop down to 1.0704 or to 0.9948. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!
Next Day Trading Ranges for Tuesday Jan 27, 2009.
The 20 day moving average of the daily trading range is 192 PIPS and the 60 day moving average of the daily trading range is 201 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 79.02 percent. This means that if this currency pair USD/CHF does not rise more than 48 PIPS from the opening price then there is a 79.02 percent chance that this will be an downday.
The [R3] or the most extreme high trading range is 1.1501.
The [R2] or the extreme high trading range is 1.1460.
The [R1] or the high trading range is 1.1410.
The [P] or pivot point is 1.1369.
The [S1] or the low trading range is 1.1319.
The [S2] or the extreme low trading range is 1.1278.
The [S3] or the most extreme low trading range is 1.1227.
Next Day Alternate Stops for Tuesday Jan 27, 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 1.1460 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: 1.1400.
Current Day Trading Session:
New momentum to the downside has just started.
Next Day Trading Session:
If the next day’s close is above 1.1654 then that could be a sign that the current downward momentum is reversing.
www.4xGenie.com Support Team
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