Peter Bain Forex Trading Commentary for Friday July 28, 2006
Forexmentor.com Forex Trading Price Action
Yesterday, I reported: We are in an overbought status, if you take a look at the divergence occurring on MACD on the 15 minute chart. I see this most recent rally as just that - another rally in a downtrend - and a setup for a good short. Well, folks, you were listening, right? After yesterday's am review, price swooned to 2660 - a drop of 110 pips. So much for the dumb money and their bids. And, here they go again today, after the news came out - bidding the euro up again. So, what do we do? Right! Get ready to go short again. Thank goodness for the dumb money. At least they're consistent - wrong again. You'd think they'd get tired of playing their games - always on the wrong side of the trade. Arggghhhhh!
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Yesterday, I reported: We are in an overbought status, if you take a look at the divergence occurring on MACD on the 15 minute chart. I see this most recent rally as just that - another rally in a downtrend - and a setup for a good short. Well, folks, you were listening, right? After yesterday's am review, price swooned to 2660 - a drop of 110 pips. So much for the dumb money and their bids. And, here they go again today, after the news came out - bidding the euro up again. So, what do we do? Right! Get ready to go short again. Thank goodness for the dumb money. At least they're consistent - wrong again. You'd think they'd get tired of playing their games - always on the wrong side of the trade. Arggghhhhh!
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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