MAJOs Table
This table took the max R1 (resistance) level and the min S1 (support) level of the CL providers contained in the MAJO resource (see Blogroll for link) and fitted ito the corresponding r1 bine resistance and the s1 bine support.
From 5am – 4pm all open prices were contained within the 3250 to 3200 range. At the 8pm open, the price was already far off its support, so 3200 seemed to be the next “support” level. Buying the 10am 3200 bine when the EURUSD was at 3218 at 8am would have been a good choice. Resistance was approached at 12noon open. Selling a 2pm 3250 bine would of been appropriate at that juncture.
Next, computing OA cash on this trade to HS.
10:56 PM 3/15/2007
Filed under: WIP, resistance, support , hedgestreet
