Peter Bain Forex Trading Commentary for Wednesday August 30, 2006
Forexmentor.com Forex Trading Price Action
The summer doldrums continue to dog us. The euro is languishing - mired in congestion, with the Big Dogs capping any upside potential, and the dumb money fuelling the rallies. If you really think about it, good trading opportunites abound - selling the rallies and/or trading the retracements. It's all so predictable. The euro doesn't stand a chance of growing to the sky, given that the Big Dogs are extremely short. But, don't tell the dumb money that. They're on the long side, only to get blown out, when each rally fails. You'd think they'd eventually get it. But, that's why they're called the dumb money. They'll jump on any piece of news, without really knowing what the big picture is all about.
Get the scoop in the members area at ForexMentor.com.
See today's chart at: http://www.forexmentor.com/campaign/aug3006.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
The summer doldrums continue to dog us. The euro is languishing - mired in congestion, with the Big Dogs capping any upside potential, and the dumb money fuelling the rallies. If you really think about it, good trading opportunites abound - selling the rallies and/or trading the retracements. It's all so predictable. The euro doesn't stand a chance of growing to the sky, given that the Big Dogs are extremely short. But, don't tell the dumb money that. They're on the long side, only to get blown out, when each rally fails. You'd think they'd eventually get it. But, that's why they're called the dumb money. They'll jump on any piece of news, without really knowing what the big picture is all about.
Get the scoop in the members area at ForexMentor.com.
See today's chart at: http://www.forexmentor.com/campaign/aug3006.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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