GBPUSD: Daily Report 30th November 2010-11-30
(The Key levels are based on the Pivot Points at GMT)
The general trend is still bearish. All indicators are bearish.
We sell the pair at the Pivot Point. R1 is Stop Loss; S1 is our Take Profit Target.
Used indicators on that chart
Pivot Point = previous day high - (previous day low + previous day close) / 3
Find here the IBTimesFX Pivot Point calculator
200 linear weighted, 28 exp., 18 exp. 12 linear weighted, 5 linear weighted
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 = 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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