Daily Forex Signal 09 FEB 2010 released 01.08 GMT

admin — Tue, 09 Feb 2010 01:35:01 +0000

D20P SELL A GBP/USD 1.5570

take profit 1.5550

stoploss 1.5600

DAILY20PIP.COM ADVICE : SIDEWAY MARKET AHEAD

SIGNAL VALID FROM 6.00 GMT - 18.00 GMT

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The Power Behind Forex OHLC Data

admin — Mon, 08 Feb 2010 18:02:58 +0000

A bar of candlestick chart are a tremendous amount of hidden information. It contains Open High Low Close (OHLC) data. Charts that limit or eliminate any portion of these 4 OHLC elements, they are mostly useful as filters based upon the input of the candlestick bar. They holds a lot of information of the choosen pairs.

If the Open and the Low are equal or close, and the Close and the High are equal or close, then you have simple analysis. Your TREND is up. The range between the Low and High represent volatility. And you can invert these values and easily see a downward trend and the relative volatility. This may sound like a choppy market scenario, but it isn’t. If you are an Elliott Wave enthusiast, the longest bars are likely to show up in a 3rd wave trending, or a sharp recovery wave. If the wave is short, the momentum is show a weak volume.

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