Forex Trading Tips From Autochartist
Forex Trading with Autochartist will help you leaps and bounds. Here is a great trade for you. The quality of this chart pattern is rated at the 7 bar level which reflects the low Initial Trend (3 bars), strong Uniformity (7 bars) and substantial Clarity (9 bars). This Breakout follows the previous downward price impulse from the major resistance level 2.1000. Point B on the chart below was formed when GBP/NZD turned down from the resistance area lying at the intersection of the round price level 2.0000 and the 50% Fibonacci Correction of the preceding downward price thrust from May of 2012, mentioned above.
The strength of this forex tip Breakout is measured at the maximum 10 bar level which increases the probability that GBP/NZD will soon reach the Forecast Price 1.9840.
|Forex trading Tips from Autochartist page created by Nils Marx|