Peter Bain Forex Trading Commentary for Thursday April 20, 2006
Forexmentor.com Forex Trading Price Action
Well, well, well. yesterday's news spike turned out to be just that - a rally in a downtrend (another way to trade the news). No amount of news was going to buck the overall trend (World War III excepted). Today, I am re-introducing the Guppy System to prove once and for all that the downtrend on the Swissy is in fact intact, just in case there were any doubts out there. The fast moving averages (blue) are clearly below the slow moving averages (red) on the daily and 4 hour charts. So, this rally, that started early afternoon ET yesterday, is just that - another rally in a downtrend. And, you would do what in this case? Sell the xxxxxxx in a xxxxxxx. Right? Right!.
See today's chart at: http://www.forexmentor.com/campaign/apr2006a.gif
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Well, well, well. yesterday's news spike turned out to be just that - a rally in a downtrend (another way to trade the news). No amount of news was going to buck the overall trend (World War III excepted). Today, I am re-introducing the Guppy System to prove once and for all that the downtrend on the Swissy is in fact intact, just in case there were any doubts out there. The fast moving averages (blue) are clearly below the slow moving averages (red) on the daily and 4 hour charts. So, this rally, that started early afternoon ET yesterday, is just that - another rally in a downtrend. And, you would do what in this case? Sell the xxxxxxx in a xxxxxxx. Right? Right!.
See today's chart at: http://www.forexmentor.com/campaign/apr2006a.gif
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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