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Forex Trade Alert for - Symbol NZD/USD SELL.

<FOREX Trade Signal for Monday Sep 29, 2008. Sell>

On Sep-29-2008 a candlestick formation confirmed a sell FOREX signal. 4xGenie Proceedings: ==> Sell at 0.6682. Stop at 0.6940. Wave 5 could drop down to 0.6518 or to 0.6176. The support level of 0.6837 was broken when prices closed below the top pitchfork line. The market has went back into the trading channel. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

MONTHLY PIVOT ALERT: Support level of 0.6783 was broken today. When the monthly S1 ( support level 1 ) is broken - we can look for a possible drop to the monthly S2 ( support level 2).

Next Day Trading Ranges for Monday Sep 29, 2008.

The 20 day moving average of the daily trading range is 161 pips and the 60 day moving average of the daily trading range is 118 pips. This shows that volatility has increased in the small term. The percentage of downdays when the open/high ratio is less than 25% is 74.07 percent. This earnings that if this currency pair nzd/usd does not rise more than 40 pips from the opening price then there is a 74.07 percent chance that this will be an downday.

Monthly Forex Pivots for NZD/USD.

The [R3] or the most extreme high trading range is 0.7024.

The [R2] or the extreme high trading range is 0.6956.

The [R1] or the high trading range is 0.6826.

The [P] or pivot point is 0.6758.

The [S1] or the low trading range is 0.6628.

The [S2] or the extreme low trading range is 0.6560.

The [S3] or the most extreme low trading range is 0.6430.

Next Day Alternate Stops for Monday Sep 29, 2008.

The red line to the right on your chart is an extreme support or resistence level for the next trading day.

A excellent alternative stop is one which is placed just beyond this extreme support/resistance level.

In this particular case if the price rises above 0.6956 then that would show momentum against 4xGenie’s small position and that would be a break out to the upside.

Delight 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 merge.

Alternate stop: 0.68.

Current Day Trading Session:

Momentum is continuing downward at the present time.

Next Day Trading Session:

If the next day’s close is above 0.6931 then that could be a sign that the current downward momentum is reversing.

FOREX GENIE

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Join the forum discussion on this post - (1) Posts10-01-083:26a GMT - Booked another few hundred pips and on the last trade and looking to continue to sell rallies, this time at 62.8% fibonacci support of the latest drop, currently at 1.4240.Trading Thought: Look for bearish reversal signs between 1.4240-1.4300; shorts favored with targets [...]

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Forex Trade Alert for - Symbol  GBP/USD.

<Forex Trade Alert for Monday Sep 29, 2008>

On Sep-29-2008 a candlestick formation confirmed a sell signal. A sell signal was also confirmed when this currency pair gbp/usd closed below 1.8279 on Sep-29-2008. 4xGenie Proceedings: ==> Sell this pair at 1.7943. Stop at 1.8705. Wave 5 could drop down to 1.7540 or to 1.6645. The market closed below the middle fibonacci fan line. Prices should find support on the bottom fan line. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Ranges for Monday Sep 29, 2008

The 20 day moving average of the daily trading range is 290 pips and the 60 day moving average of the daily trading range is 208 pips. This shows that volatility has increased in the small term. The percentage of downdays when the open/high ratio is less than 25% is 82.01 percent. This earnings that if this currency pair does not rise more than 72 pips from the opening price then there is a 82.01 percent chance that this will be an downday.

Monthly Pivots.

The [R3] or the most extreme high trading range is 1.8827.

The [R2] or the extreme high trading range is 1.8636.

The [R1] or the high trading range is 1.8340.

The [P] or pivot point is 1.8149.

The [S1] or the low trading range is 1.7853.

The [S2] or the extreme low trading range is 1.7662.

The [S3] or the most extreme low trading range is 1.7366.

Next Day Alternate Stops for Monday Sep 29, 2008.

The red line to the right on your chart is an extreme support or resistence level for the next trading day.

A excellent alternative stop is one which is placed just beyond this extreme support/resistance level.

In this particular case if the price rises above 1.8636 then that would show momentum against 4xGenie’s small position and that would be a break out to the upside.

Delight 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 merge.

Alternate stop: 1.81

Current Day Trading Session:

New momentum to the downside has just started.

Next Day Trading Session:

If the next day’s close is above 1.8749 then that could be a sign that the current downward momentum is reversing.

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Join the forum discussion on this post - (1) Posts9-30-082:26a GMT - After booking 200 pips on our last sell signal we are looking for more selling opportunities, this time around resistance at 1.4555 (the 9/25 and 9/26 low).Trading Thought: look for bearish candlestick signals around these levels to confirm trade. Shorts favored with [...]

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Closed this one out at 192.64.+50 from the line!We traded this one in the free chatroom!

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