Thursday, October 21, 2010

10/21 10:45

The count on the dollar is 3 up from last week's low, making a buy signal by piercing it's key short-term M/A.  It then completed a 3 down without rescinding the signal by declining .45 points beyond it's M/A on an hourly close.  At this point the M/A is 77.60.  Any hourly close below 77.10 will be a new bear signal.  Meanwhile a 10-minute M/A is declining fast and is currently 77.43.  I'll be buying a DX at 77.13 limit or 77.52 stop.  I'll be adjusting the stop price as the M/A declines.  If filled the stop will be hourly close < 77.10.  If taken out then DX is destined to hit 76.12.

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1 comment:

  1. pimaCanyonOctober 21, 2010 at 8:37 AM

    Steve, you mentioned that the dollar did not give a sell signal because it didn't decline .45 points beyond its MA on hourly close. What MA is that? And is that MA on an hourly chart or on the 10 minute chart you've been using for the dollar?

    Thanks!

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