9/8 Forex

• Cable moves to bull phase against the U.S. dollar (GBP/USD).

	pps	pps open	upper pivot	lower pivot
EUR/USD US$1.27		US$1.29 sep7	US$1.31	US$1.24
USD/JPY¥83.94		¥85.15 aug24	¥86.06	¥82.82
GBP/USD US$1.55		US$1.54 sep8	US$1.58	US$1.51
EUR/JPY ¥106.91		¥108.42 sep7	¥108.43	¥103.21
USD/CAD C$1.04		C$1.07 sep1	C$1.09	C$1.03
USD/MXN M$13.00		M$13.07 sep2	M$13.50	M$12.72

The GBP/USD bull phase pushed the price up toward the midline but left it within the recent trading range. Without a confirming breakout, this bull signal is a weakling.

The preceding bear phase, lasting 20 U.S. market days, carried the price down 3.1%.

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.