Friday, March 18, 2011

3/18 Forex

EUR/JPY turns neutral in one-day whipsaw, prompted by a pledge of international support for the yen, and is showing bullish near-term prospects on the parabolic sar.

USD/JPY also rose sharply after the pledge, but with no change in longer-term or near-term phase.

USD/CHF bear trend strengthens to the 30s as measured by the average directional index (adx).

sym chan adx traj psar
EUR/USD        
AUD/USD        
USD/CAD        
USD/JPY        
GBP/CHF        
GBP/USD        
EUR/JPY        
AUD/JPY        
USD/CHF        
NZD/USD        
USD/MXN        

Currency Abbreviations
symname
AUDAustralian dollar
CADCanadian dollar, also Loonie
EUREuropean Union euro
GBPBritish Pound, also Cable
JPYJapanese yen
MXNMexican peso
NZDNew Zealand dollar
USDUnited States dollar

Key
  • chan: Channel phase, with green for bull trend, red for bear trend and yellow for neutral trend.
  • adx: Average direction index location, indicating the strength, or the temperature, of the trend. Orange for 40 or greater, aqua (light blue) for 30 and up but below 40, magenta (light purple) for 20 and up but below 30, and brown for anything below 20. (Mnemonic: Orange for the overhead sun, blue for the surrounding sky, purple for sunset on the horizon and brown for the earth.)
  • traj: Trajectory of the ADX, green for strengthening, red for weakening or yellow for unchanging. Note that if the adx column is orange and the trajectory column is red, then the position must be closed.
  • psar: The parabolic sar, either green for bullish or red for bearish.

About channel analysis

Read a detailed explanation of my channel 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.

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