Thursday, November 24, 2011

11/24 Forex

Notes on this morning’s forex...

The U.S. equities markets are closed today. I won't be posting anymore today on Private Trader because of the U.S. Thanksgiving holiday.

On the daily charts...

HKD/JPY has broken free of its downtrending channel with a sideways movement, slightly skewed to the upside, that threatens to break of the downtrend.

Channels of Interest

pair chan from
AUD/CAD   Oct. 28
AUD/HKD   Oct. 28
AUD/THB   Oct. 28
AUD/ZAR   Aug. 8
CAD/PLN   July 8
DKK/CZK   Aug. 31
DKK/HUF   July 7
EUR/AUD   Oct. 31
EUR/CZK   Aug.17
EUR/HUF   Sept. 1
EUR/USD   Oct. 4
GBP/AUD   Oct. 28
GBP/CZK   Aug. 29
GBP/SGD   Sept. 7
GBP/THB   Sept. 23
HKD/JPY   Nov. 1
NZD/JPY   Oct. 31
NZD/THB   Oct. 28
NZD/USD   Oct. 28
PLN/CZK   Sept. 22
TRY/JPY   Nov. 14
USD/HKD   Oct. 28
USD/SGD   Oct. 31
Green means uptrending channel; red means downtrending channel.

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.

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.

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

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