Peter Bain Forex Trading Commentary for Tuesday June 20, 2006
Forexmentor.com Forex Trading Price Action
The trend across the board on the euro is DOWN!!!!! That is reflected at all levels but,more specifically, by the attitude of the 200 EMA on the hourly and the 89 and 144 EMAs on the 15 min. Sell the rallies in a downtrend. Remember? Do you hear an echo yet?
Today was no exception. Price came into today's session below the 89 and 144 EMAs on the 15 min., and then tried to buck the overall trend (read, DOWN) - rising to the expected high on the day (M3) - and being repelled at that level - just above the 144 EMA. Who could have guessed? This business is easy once you get the hang of it. No brain damage required.
For more on the trading styles of the rich and famous currency traders, consult the extensive members library at Forexmentor.com.
See today's chart at: http://www.forexmentor.com/campaign/june2006.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
The trend across the board on the euro is DOWN!!!!! That is reflected at all levels but,more specifically, by the attitude of the 200 EMA on the hourly and the 89 and 144 EMAs on the 15 min. Sell the rallies in a downtrend. Remember? Do you hear an echo yet?
Today was no exception. Price came into today's session below the 89 and 144 EMAs on the 15 min., and then tried to buck the overall trend (read, DOWN) - rising to the expected high on the day (M3) - and being repelled at that level - just above the 144 EMA. Who could have guessed? This business is easy once you get the hang of it. No brain damage required.
For more on the trading styles of the rich and famous currency traders, consult the extensive members library at Forexmentor.com.
See today's chart at: http://www.forexmentor.com/campaign/june2006.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
<< Home