Peter Bain Forex Trading Commentary for Thursday June 1, 2006
Forexmentor.com Forex Trading Price Action
One of our members has been trying to convince me that the euro will grow to the sky - all the way up to 3100. Well, I'm a non-believer in that theory.
Witness today. With all chart levels reflecting bearishness, how could an advance be possible? Last night, the weekly, daily, 4 hour and 1 hour charts were all showing red ink, as reflected by MACD and price action. When you see such evidence, then get ready to get your Stochastics indicator out (an oscillator), and sell the rallies in a downtrend. Such action can better be seen on the 15 minute and, of course, all trades should be executed off the 5 minute to get a better entry point, with limited risk.
The video library at Forexmentor.com contains a wealth of information on trading strategies, techniques and tips.
See today's chart at: http://www.forexmentor.com/campaign/june0106.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
One of our members has been trying to convince me that the euro will grow to the sky - all the way up to 3100. Well, I'm a non-believer in that theory.
Witness today. With all chart levels reflecting bearishness, how could an advance be possible? Last night, the weekly, daily, 4 hour and 1 hour charts were all showing red ink, as reflected by MACD and price action. When you see such evidence, then get ready to get your Stochastics indicator out (an oscillator), and sell the rallies in a downtrend. Such action can better be seen on the 15 minute and, of course, all trades should be executed off the 5 minute to get a better entry point, with limited risk.
The video library at Forexmentor.com contains a wealth of information on trading strategies, techniques and tips.
See today's chart at: http://www.forexmentor.com/campaign/june0106.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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