On July-02-2008 Proprietary indicator confirmed a STRADDLE SETUP. 4xGenie Action: ==> Place 2 seperate limit orders simultaneosly. First order is for buy only, with a stop and limit provided. Second order is for sell only, with a stop and limit provided. Only one order will be executed. Make sure to cancel the other order once you see that other is executed. Orders are good till one order is executed.
Pattern Type : Symmetrical Triangle
Expectations : Trend Continuation if the currancy pair breaks or gaps above the resistance line (top trend line),
or breaks or gaps below the support line (bottom trend line).
Description : Currency Pair prices run between two trend lines that approach each other. The trend lines slopes are almost perfectly opposite to each other.
First Order EUR/GBP BUY.
BUY at 0.7970.
STOP at 0.7867.
PAY YOURSELF FIRST 1/3 OFF at 0.8032 and MOVE STOP TO 0.7975.
BUY TARGET at 0.8087.
Second Order EUR/GBP SELL.
SELL at 0.7867.
STOP at 0.7970.
PAY YOURSELF FIRST 1/3 OFF at 0.7830 and MOVE STOP TO 0.7862.
SELL TARGET at 0.7761.
Next Day Trading Ranges for Wednesday July 02, 2008.The 20 day moving average of the daily trading range is 61 pips and the 60 day moving average of the daily trading range is 67. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 76.19 percent. This means that if this forex currency pair EUR/GBP does not drop more than 15 pips from the opening price then there is a 76.19 percent chance that this will be an upday.
MONTHLY PIVOTS POINTS.
The [R3] or the most extreme high trading range is 0.8001.
The [R2] or the extreme high trading range is 0.7965.
The [R1] or the high trading range is 0.7942.
The [P] or pivot point is 0.7906.
The [S1] or the low trading range is 0.7883.
The [S2] or the extreme low trading range is 0.7847.
The [S3] or the most extreme low trading range is 0.7824.
Next Day Trading Session:
If the next day’s close is below 0.79317 then that could be a sign that the current upward momentum is reversing.
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Last Updated: 30th Nov. 2009
No Buy or sell Recommendation !!!
