9/3 Forex

• Euro shows bull phase against the yen (EUR/JPY), but it's ghosting.
• Dollar moves to bear phase against the peso (USD/MXN).

	pps	pps open	upper pivot	lower pivot
EUR/USD US$1.29		US$1.27 sep1	US$1.31	US$1.24
USD/JPY¥84.43		¥85.15 aug24	¥86.06	¥82.82
GBP/USD US$1.54		US$1.59 aug11	US$1.58	US$1.51
EUR/JPY ¥108.60		¥108.06 sep3	¥108.43	¥103.21
USD/CAD C$1.04		C$1.07 sep1	C$1.09	C$1.03
USD/MXN M$12.93		M$13.07 sep2	M$13.50	M$12.72

The EUR/JPY pair pushed above the midline as it produced the signal, but then pulled back, producing the ghost.

If the bull phase is in place at the market close, then the preceding bear phase would have produced a 0.9% price rise in three days. Not good performance for the signal.

The USD/MXN pair has fallen three days straight and showed the bear signal mid-day on Thursday. Today's drop pushed below the midline.

The preceding bull phase lasted nine market days and resulted in a respectable 2.9% price rise.

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.

Disclaimer

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.