GBPUSD: Daily Report 30th November 2010-11-30

Key Levels

R3: 1.5739
R2: 1.5693
R1: 1.5620
PP: 1.5573
S1: 1.5500
S2: 1.5454
S3: 1.5381
(The Key levels are based on the Pivot Points at GMT)

Daily Outlook

width=180The general trend is still bearish. All indicators are bearish.

Trading Strategy

We sell the pair at the Pivot Point. R1 is Stop Loss; S1 is our Take Profit Target.

Used indicators on that chart

Pivot Points

Pivot Point = previous day high - (previous day low + previous day close) / 3
Find here the IBTimesFX Pivot Point calculator

Moving Averages

200 linear weighted, 28 exp., 18 exp. 12 linear weighted, 5 linear weighted

ADX (14)

ADX: Calculation of positive and negative directed movement (Directional Movement or DM) - +DMj and -DMj
If Highj (a maximum of a current bar)> Highj-1 (a maximum of the previous bar),
That +DMj = Highj - Highj-1, differently +DMj = 0
Find here more about the calculation of the ADX and the D+ and D-.

RSI (21)

RSI = 100 - ((100 / (1+RS))
RS = Average Gain / Average Loss
Learn more about the RSI.

MACD (12, 26, 9)

MACD is the difference between the 12 and the 26 periods moving average. The Signals Line is the 9 periods exponential Moving average. The Histogram shows the difference between the MACD and the Signal line.

Learn more about the MACD.


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