Wednesday, July 7, 2010

7/7 Forex

Despite the occasional ghosting, the phase changes recorded yesterday for EUR/JPY and USD/CAD were persistent. No new phase changes this morning.

ppspps openupper pivotlower pivot
EUR/USD US$1.2604 US$1.2236 jul01 US$1.2510 US$1.1602
USD/JPY¥87.22 ¥91.44 jun17 ¥91.49 ¥85.29
GBP/USD US$1.5170 US$1.4943 jul01 US$1.5266 US$1.4021
EUR/JPY ¥109.87 ¥112.16 jul22 ¥112.46 ¥103.05
USD/CAD C$1.0545 C$1.0295 jun23 US$1.1024 US$1.0291

The analysis uses the daily Person's Proprietary Signal, developed by John Person, and the monthly Person's Pivot, which he also developed.

These are black box signals -- the "propropietary" means that Mr. Person knows how they work under the hood, and I don't. But they have shown a fair degree of success in identifying good entry and exit points, and I find them useful.

On the glance, "pps open" means the price at the start of trading in the United States on the day the signal appeared.

Tim Bovee, Private Trader tracks the 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.

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