Monday, July 11, 2011

7/11 Forex

Nineteen new breakouts among the 124 currency pairs I follow, seven with strong trends and most, it seems to me, being flight-to-quality plays.

Strong-Trend Breakouts
sym phase adx bday blevel stop atr atr%
CAD/PLN  
26
jul11 zł2.8962 zł2.8636 0.0326 1.1%
CAD/SEK+  
33
jul11 Skr6.665 Skr6.592 0.073 1.1%
CHF/DKK+  
30
jul11 Dkr6.3166 Dkr6.2281 0.0885 1.4%
CHF/PLN  
28
jul11 zł3.3894 zł3.3269 0.0625 1.8%
CHF/SEK+  
35
jul11 Skr7.808 Skr7.693 0.115 1.5%
EUR/CHF+*  
29
jul11 SFr1.1802 SFr1.1865 0.0172 1.5%
GBP/HKD  
25
jul11 HK$12.3886 HK$12.4825 0.0939 0.89%
Major currency pairs, which carry lower margin in the United States, are marked with a plus sign (+) after the symbol. My holdings are marked with an asterisk (*).

Weak-Trend Breakouts
sym phase adx bday blevel stop atr atr%
AUD/PLN  
19
jul11 zł2.9983 zł2.9682 0.0301 1.0%
CAD/DKK+  
18
jul11 Dkr5.4671 Dkr5.4186 0.0485 0.9%
CHF/HUF  
23
jul11 Ft227.80 Ft223.28 4.52 2.0%
CHF/NOK+  
22
jul11 Nkr6.622 Nkr6.514 0.108 1.6%
DKK/JPY+  
14
jul11 ¥15.2020 ¥15.3804 0.1784 1.2%
EUR/AUD+  
18
jul11 A$1.3227 A$1.3341 0.0114 0.9%
EUR/CAD+  
18
jul11 C$1.3625 C$1.3749 0.0124 0.9%
EUR/JPY+  
13
jul11 ¥113.402 ¥114.730 1.328 1.2%
GBP/JPY+  
24
jul11 ¥128.197 ¥129.343 1.146 0.9%
GBP/USD+  
24
jul11 US$1.5911 US$1.6038 0.0127 0.8%
SEK/JPY  
17
jul11 ¥12.321 ¥12.522 0.201 1.6%
TRY/JPY  
22
jul11 ¥48.92 ¥49.50 0.58 1.2%
Major currency pairs, which carry lower margin in the United States, are marked with a plus sign (+) after the symbol. My holdings are marked with an asterisk (*).



Key
  • phase: Green for a bull-phase breakout, red for a bear phase.
  • adx: Average direction index location, indicating the strength, or the temperature, of the trend. Orange for 40 or greater, aqua (light blue) for 25 and up but below 40, magenta (light purple) for 20 and up but below 25, and brown for anything below 20. (Mnemonic: Orange for the overhead sun, blue for the surrounding sky, magenta for sunset on the horizon and brown for the earth.)
  • bday: Breakout day, the day the price broke through the upper or lower 55-day price line.
  • blevel: Breakout level, the price level of the line that was broken through.
  • bstop: The stop/loss price calculated on breakout days as the 14-day average true range below the breakout-day low for a bull phase and above thre breakout-day high for a bear phase.
  • atr: The 14-day average true range, in the same currency as the price.
  • atr%: The average true range as a percentage of the breakout level, an indicator of volatility that is comparable for all potential trades.

About channel analysis

Read a detailed explanation of my channel analysis method, including trading rules.


The trader’s greatest sin is inaction. Sleeper, awake! Seize the Nietzchean moment. Roll out of bed and trade.

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