Peter Bain Forex Trading Commentary for Thursday May 4, 2006
Forexmentor.com Forex Trading Price Action
Yesterday, we had a counter-trend reversal on the Swissy at the London open. I indicated that we should look to sell that rally in the prevailing downtrend. Well, that opportunity came in the form of negative MACD divergence to price, going into the London close. It was quickly followed by a reversal to the upside, facilitated by quasi-railway tracks. A subsequent Joe Cheung price projection saw the USD/CHF pair rising to the ~2415 level, and there it went into today's session.
See today's chart at: http://www.forexmentor.com/campaign/may0406.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Yesterday, we had a counter-trend reversal on the Swissy at the London open. I indicated that we should look to sell that rally in the prevailing downtrend. Well, that opportunity came in the form of negative MACD divergence to price, going into the London close. It was quickly followed by a reversal to the upside, facilitated by quasi-railway tracks. A subsequent Joe Cheung price projection saw the USD/CHF pair rising to the ~2415 level, and there it went into today's session.
See today's chart at: http://www.forexmentor.com/campaign/may0406.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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