Peter Bain Forex Trading Commentary for Tuesday June 27, 2006
Forexmentor.com Forex Trading Price Action
Last week on the euro we had a downtrend continuation pattern form, followed by positive MACD divergence. That saw price rise today slightly above the 200 EMA on the hourly chart, which is in a downtrend. That was clue enough that price was headed in the wrong direction - another short opportunity, amongst the many I have been talking about of late. Short the rallies in this downtrend folks.
Pattern recognition and the proper use of technical indicators are things you need to fully appreciate in this business. For more on those aspects of trading the forex,please consult the numerous modules in the members library at ForexMentor.com.
See today's chart at: http://www.forexmentor.com/campaign/june2706.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Last week on the euro we had a downtrend continuation pattern form, followed by positive MACD divergence. That saw price rise today slightly above the 200 EMA on the hourly chart, which is in a downtrend. That was clue enough that price was headed in the wrong direction - another short opportunity, amongst the many I have been talking about of late. Short the rallies in this downtrend folks.
Pattern recognition and the proper use of technical indicators are things you need to fully appreciate in this business. For more on those aspects of trading the forex,please consult the numerous modules in the members library at ForexMentor.com.
See today's chart at: http://www.forexmentor.com/campaign/june2706.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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