2/21 – 3:05 p.m. New York time
2/21 – 9:50 a.m. New York time
FXE, which tracks the EUR/USD exchange, peaked on Feb. 16 and has since commenced a decline. The change in trend was confirmed this morning as the Fisher Transform signaled a downtrend. At the Minuette degree that I trade, the downward move would begin the reversal of an uptrend that began in early 2017.
GLD, which tracks gold bullion, has also reversed from its peak of Feb. 16, with the downtrend confirmed by the Fisher Transform.
I shall take a closer look at both today and possibly enter positions.
Equities, such as SPY, QQQ and individual stocks, continue to show an uptrend on the Fisher Transform have no plan to trade them today.
By Tim Bovee, Portland, Oregon, Feb. 21, 2018
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 decisions for his or her own account, and take responsibility for the consequences.
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