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At a Glance


We have introduced a new FREE service/ tool called "At a Glance" (see below), which may be used in conjunction with, or independent of, our trade recommendation service "FX Thoughts for the Day". To use this service/ tool, you need to be a Registered User/ Subscriber of "FX Thoughts for the Day".

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  FXThoughts - At a Glance (Beta)
Updated at 1547 IST or 1017 GMT or 0617 EST on 31-Oct-07 http://www.fxthoughts.com
    Colour Guide: Sup 1 Sup 2 Sup 3          
    Resist 1 Resist 2 Resist 3             Frequently Asked Questions  
                             
                             
  EURO           JAPANESE YEN          
  Date 31-Oct-2007 Time Frame   Date 31-Oct-2007 Time Frame  
  Market 1.4440 Weekly 3-Day Daily 4-Hour   Market 114.74 Weekly 3-Day Daily 4-Hour  
    Max High 1.4545 1.4506 1.4517       Max High 116.24 115.77 115.77    
                 
      Up…S Up…S Up…S Up…S       Down…R Down…R Up…S Up…S  
    Level 1 1.4289 1.4319 1.4340 1.4241     Level 1 115.60 115.33 114.46 114.62  
    Pips Move 0.0151 0.0121 0.0100 0.0199     Pips Move -0.86 -0.59 0.28 0.12  
    % Move 1.06% 0.85% 0.70% 1.40%     % Move -0.75% -0.51% 0.24% 0.10%  
                 
      Up…S Up…S Up…S Up…S       Down…R Down…R Down…R Up…S  
    Level 2 1.4209 1.4252 1.4300 1.4213     Level 2 115.45 115.81 115.12 114.46  
    Pips Move 0.0231 0.0188 0.0140 0.0227     Pips Move -0.71 -1.07 -0.38 0.28  
    % Move 1.62% 1.32% 0.98% 1.60%     % Move -0.61% -0.92% -0.33% 0.24%  
                 
      Up…S Up…S Up…S Up…S       Down…R Down…R Down…R Up…S  
    Level 3 1.3993 1.4148 1.4235 1.4248     Level 3 115.53 115.57 115.86 114.45  
    Pips Move 0.0447 0.0292 0.0205 0.0192     Pips Move -0.79 -0.83 -1.12 0.29  
    % Move 3.20% 2.07% 1.44% 1.35%     % Move -0.68% -0.72% -0.97% 0.25%  
                 
    Max Low 1.4295 1.4334 1.4377       Max Low 113.00 113.47 113.94    
                             
                             
  EURO-YEN Cross           SWISS FRANC          
  Date 31-Oct-2007 Time Frame    Date 31-Oct-2007 Time Frame  
  Market 166.14 Weekly 3-Day Daily 4-Hour    Market 1.1583 Weekly 3-Day Daily 4-Hour  
    Max High 167.98 167.44 167.50       Max High 1.1742 1.1695 1.1647    
                 
      Up…S Up…S Up…S Up…S       Down…R Down…R Down…R Down…R  
    Level 1 165.24 165.21 163.91 163.23     Level 1 1.1701 1.1691 1.1665 1.1736  
    Pips Move 0.90 0.93 2.23 2.91     Pips Move -0.0118 -0.0108 -0.0082 -0.0153  
    % Move 0.54% 0.56% 1.36% 1.78%     % Move -1.01% -0.92% -0.70% -1.30%  
                 
      Up…S Up…S Up…S Up…S       Down…R Down…R Down…R Down…R  
    Level 2 164.08 165.30 164.65 162.69     Level 2 1.1719 1.1727 1.1700 1.1749  
    Pips Move 2.06 0.84 1.49 3.45     Pips Move -0.0136 -0.0144 -0.0117 -0.0166  
    % Move 1.25% 0.51% 0.91% 2.12%     % Move -1.16% -1.23% -1.00% -1.41%  
                 
      Up…S Up…S Up…S Up…S       Down…R Down…R Down…R Down…R  
    Level 3 161.68 163.56 164.88 163.07     Level 3 1.1829 1.1762 1.1743 1.1716  
    Pips Move 4.46 2.58 1.26 3.07     Pips Move -0.0246 -0.0179 -0.0160 -0.0133  
    % Move 2.76% 1.58% 0.76% 1.88%     % Move -2.08% -1.52% -1.36% -1.14%  
                 
    Max Low 162.14 162.68 163.81       Max Low 1.1493 1.1540 1.1508    
                             
                             
  STERLING POUND           AUSSIE DOLLAR          
  Date 31-Oct-2007 Time Frame    Date 31-Oct-2007 Time Frame  
  Market 2.0722 Weekly 3-Day Daily 4-Hour    Market 0.9222 Weekly 3-Day Daily 4-Hour  
    Max High 2.0782 2.0728 2.0826       Max High 0.9365 0.9363 0.9328    
                 
      Up…S Up…S Up…S Up…S       Up…S Up…S Up…S Up…S  
    Level 1 2.0498 2.0521 2.0547 2.0475     Level 1 0.9064 0.9066 0.9094 0.8963  
    Pips Move 0.0224 0.0201 0.0175 0.0247     Pips Move 0.0158 0.0156 0.0128 0.0259  
    % Move 1.09% 0.98% 0.85% 1.21%     % Move 1.74% 1.73% 1.40% 2.89%  
                 
      Up…S Up…S Up…S Up…S       Up…S Up…S Up…S Up…S  
    Level 2 2.0404 2.0481 2.0494 2.0415     Level 2 0.8910 0.9010 0.9029 0.8913  
    Pips Move 0.0318 0.0241 0.0228 0.0307     Pips Move 0.0312 0.0212 0.0193 0.0309  
    % Move 1.56% 1.18% 1.11% 1.50%     % Move 3.50% 2.35% 2.13% 3.47%  
                 
      Up…S Up…S Up…S Up…S       Up…S Up…S Up…S Up…S  
    Level 3 2.0297 2.0363 2.0447 2.0449     Level 3 0.8646 0.8836 0.9001 0.8911  
    Pips Move 0.0425 0.0359 0.0275 0.0273     Pips Move 0.0576 0.0386 0.0221 0.0311  
    % Move 2.09% 1.76% 1.34% 1.34%     % Move 6.67% 4.37% 2.46% 3.49%  
                             
    Max Low 2.0482 2.0536 2.0588       Max Low 0.9054 0.9056 0.9103    
                             


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FREQUENTLY ASKED QUESTIONS

Q. What are the advantages of "At a Glance"?

As the name suggests, the advantage is that you get to see where the Price is in relation to relevant MAs across various time frames, all at a glance. It also helps you identify significant Supports and Resistances fast.

The Pips Move and % Move tells you how far the Price is from the relevant MAs.


Q. Is it a summary tool for the market?

Yes, it is a Summary tool of the market. Its a Snapshot of the market at a point of time. Please note, it is NOT a Prediction or a Buy/ Sell recommendation.


Q. Is it a decision making support tool?

It is, for it helps you identify Supports and Resistances and thus plan your trade better.


Q. What are its limitations?

"At a Glance" can be used very well for identifying Supports/ Resistances in an Uptrend/ Downtrend. But, it is limited to the extent that it does not suggest where good Resistances/ Supports might be in an Uptrend/ Downtrend. Thus, "At a Glance" is an important PART of a trading system, but it is not a complete trading system in itself.

Q. There are figures under green, orange and other colors. What do the colors mean?

We use colours in "At a Glance" to serve 2 pusposes. Firstly to identify those MAs which happen to be close to each other, even if they are in different time periods. If there are 2-3 MAs in the same region (within 5-20 pips of each other), it implies that that particular region is a stronger (than usual) support/ resistance as the case may be.

For instance, for Euro today we have Supports at 1.1659 (1st MA on 4-hourly), at 1.1648 (2nd MA on 4-hourly) and 1.1643 (1st MA on Daily). So, this is likely to be a strong/ crucial Support for Euro. All three Supports have been marked in Blue. As regards Resistances, the first Resistance is projected at 1.1739 (marked in Yellow). Thereafter, the second Resistance level comes in a 1.1808 (on the Weekly) and at 1.1818 (on the Daily). Since these two are very close to each other, they've been marked in the same colour (Orange).

This brings us to the second use of colours.

Colour Guide: Support 1 Support 2 Supporr 3 Indecisive
Resistance 1 Resistance 2 Resistance 3

This is a means to quickly identify the crucial levels in the market so that trades can be planned better. Many a times, successful trading is not about determining where the market will go, but rather about planning what to do when the market reaches any particular point.


If you have any further questions, please write to us at
info@kshitij.com We shall be glad to be of service.


Happy Trading!


DISCLAIMER
These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.


WARNING !!
Visitors should be aware that Foreign Exchange transactions and trading are or can be subject to laws, rules and regulations of the country in which the entity undertaking the transactions is situated. It is incumbent upon the Visitors to keep themselves informed and abreast of the Laws they are (or would be expected to be) subject to and governed by, and act in accordance thereto.


 
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