Monday, November 21, 2011

11/21 Forex

Notes on this morning’s forex...

On the daily charts...

GBP/CZK has broken decisively below it’s uptrending channel.

Channels of Interest

pair chan from
AUD/CAD   Oct. 28
AUD/HKD   Oct. 28
AUD/THB   Oct. 28
AUD/ZAR   Nov. 1
CAD/PLN   Oct. 4
DKK/CZK   Aug. 31
DKK/HUF   July 7
EUR/AUD   Oct. 31
EUR/CZK   Aug.17
EUR/HUF   Sept. 1
EUR/USD   Oct. 27
GBP/AUD   Oct. 28
GBP/SGD   Sept. 7
GBP/THB   Oct. 31
HKD/JPY   Nov. 1
NZD/JPY   Oct. 31
NZD/THB   Oct. 28
NZD/USD   Oct. 28
PLN/CZK   Sept. 22
TRY/JPY   Oct. 4
USD/HKD   Oct. 28
USD/SGD   Oct. 31
Green means uptrending channel; red means downtrending channel.

What I Track

For the daily charts, I track approximately 120 currency pairs.

Channels of interest: By "of interest", I mean a relatively new trend that has room to move before meeting major resistance, especially if it’s a decisive bounce off of a 20-day high or low. Plus, it has to look right to me. This is not science. Also, channels of interest aren’t necessarily positions I would play without some sort of corroborating momentum evidence.

About my trading methods

Read a detailed explanation of my analysis method, including trading rules.

Disclaimer

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.

The trader’s greatest sin is inaction. Sleeper, awake! Seize the Nietzchean moment. Roll out of bed and trade.

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