Notes on this morning’s forex...
On the daily charts...
AUD/CZK, CZK/HUF, PLN/HUF have broken below their uptrending channels.
Channels of Interest
What I Track
For the daily charts, I track approximately 120 currency pairs.
Channels of interest: By "of interest", I mean a relatively new trend that has room to move before meeting major resistance, especially if it’s a decisive bounce off of a 20-day high or low. Plus, it has to look right to me. This is not science. Also, channels of interest aren’t necessarily positions I would play without some sort of corroborating momentum evidence.
About my trading methods
Read a detailed explanation of my analysis method, including trading rules.
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.
The trader’s greatest sin is inaction. Sleeper, awake! Seize the Nietzchean moment. Roll out of bed and trade.