Peter Bain Forex Trading Commentary for Friday June 16, 2006

Forexmentor.com Forex Trading Price Action

Legs? What legs? Every time I see the euro rise, I see another opportunity to go short. The dumb money can chase it up all they want, but I'm playing 'follow-the-leader' here, and marching to the tune of the Big Dogs. Price just got repelled by the 200 EMA on the hourly, and negative MACD divergence formed on the 15 minute.

The commercial traders are extremely short this pair, and their sentiment will continue to prevail - despite the odd rally here and there. Ignore them at your own peril. I have never seen them wrong in the 10 years I have been following them. They are never late with their moves, but sometimes a tad early. Watch out below! Think 'short.'

See today's chart at: http://www.forexmentor.com/campaign/june1606.html

See latest sample AM Review at: http://www.forexmentor.com/sampler/

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/

Peter Bain Forex Trading Commentary for Wednesday June 14, 2006

Forexmentor.com Forex Trading Price Action

The overall trend on the euro is still DOWN! Yesterday, I called for a retracement, because of what I saw on the 4 hour chart. That we got today, in the form of price advancing to the expected high for the day (M3=2583).

But, given that the overall trend is still down, this meant that price was bucking the trend, and that the rally was nothing more than another opportunity to sell it, once price achieved its high. Watch out below! Sell the rallies in this downtrend, but be ever vigilant for tradable retracements.

For more on trading strategies, tips and techniques, please consult the extensive members library at Forexmentor.com.

See today's chart at: http://www.forexmentor.com/campaign/june1406.html

See latest sample AM Review at: http://www.forexmentor.com/sampler/

Peter Bain Forex Trading Commentary for Tuesday June 13, 2006

Forexmentor.com Forex Trading Price Action

Shameless brag time.......I was right about the topping-out process on the euro, and I was right about MACD neutralization last Friday (June 9/06). Down she went. Selling the rallies in a downtrend has been a profitable strategy ever since the euro topped out as, for at least a week, the euro has been moving steadily down. What we should be on the lookout for now is a retracement. The 4 hour chart is displaying signs of oversoldness, as reflected in MACD bottoming out, and curling up.

For more on trading strategies, tips and techniques, please consult the extensive members library at Forexmentor.com.

See today's chart at: http://www.forexmentor.com/campaign/june1306.html

See latest sample AM Review at: http://www.forexmentor.com/sampler/