Friday, August 13, 2010

8/13 Forex

  • Dollar shows bull phase against the yen, but the signal is ghosting.

ppspps openupper pivotlower pivot
EUR/USD US$1.28 US$1.32 aug11 US$1.34 US$1.25
USD/JPY¥85.03 ¥85.915 aug13 ¥88.41 ¥85.20
GBP/USD US$1.56 US$1.59 aug11 US$1.60 US$1.51
EUR/JPY ¥109.69 ¥113.50 aug10 ¥115.86 ¥108.62
USD/CAD C$1.04 C$1.03 aug10 C$1.06 C$1.01
USD/MXN M$12.71 M$12.56 aug6 M$13.00 M$12.24

The USD/JPY bull phase on Person's Proprietary Signal is tentative. Ghosting means the signal disappears and reappears on the chart, behavior that's not unusual for the pps. I'll update near the close with the status of the signal.

If today indeed starts bull phase . . .

The signal was accompanied by a 0.7% intraday rise, but the price quickly retreated to just below the open, for a net loss. The currency pair is trading just above the lower monthly pivot but has risen above the pps moving averages.

The preceding bear phase carried the price down 1.8%

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 "proprietary" 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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