Peter Bain Forex Trading Commentary for Thursday June 15, 2006
Forexmentor.com Forex Trading Price Action
Yesterday, I told you to sell the news rally on the euro. You did, didn't you? This was nothing more than a rally in a downtrend. The question now is where to from here? Well, after the burst, price corrected, as I called for (read, to the tune of 40 pips), and then slithered sideways. The KTTN system for trading the aftermath of news, as described in the General Sections of the AM Reviews for Feb. 7, 8 , 9 and 10 of this year, calls for going long on a break of the high created by yesterday's news, or going short on a break of the low. Those are your marching orders.
You'll find a ton more of trading ideas in the members library at ForexMentor.com.
See today's chart at: http://www.forexmentor.com/campaign/june1506.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Yesterday, I told you to sell the news rally on the euro. You did, didn't you? This was nothing more than a rally in a downtrend. The question now is where to from here? Well, after the burst, price corrected, as I called for (read, to the tune of 40 pips), and then slithered sideways. The KTTN system for trading the aftermath of news, as described in the General Sections of the AM Reviews for Feb. 7, 8 , 9 and 10 of this year, calls for going long on a break of the high created by yesterday's news, or going short on a break of the low. Those are your marching orders.
You'll find a ton more of trading ideas in the members library at ForexMentor.com.
See today's chart at: http://www.forexmentor.com/campaign/june1506.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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