Peter Bain Forex Trading Commentary for Friday June 23, 2006

Forexmentor.com Forex Trading Price Action

I know I am starting to sound like a broken record, but I've been calling for the short side of the euro for the last three weeks, over the protestations of some people who think they know better.

Well, today was no exception. We had a downtrend continuation pattern unfold beautifully on the 15 minute chart, after the 200 EMA repelled price on the 1 hour yesterday - as was to be expected.

Ignore the Big Dogs at your own peril. I've never seen them on the wrong side of the trade. And, yet, some people insist on doubting their sentiment. Understand COT, and know the three principles of trading (buying the dips in an uptrend, selling the rallies in a downtrend, and scalping during periods of price equilibrium or consolidation), and you're well on your way to calling yourself a Big Dog Currency Trader.

Of course, all of this technobabble is explained in great detail in the members library at ForexMentor.com. Join the ranks of our enlightened forex traders.

See today's chart at: http://www.forexmentor.com/campaign/june2306.html

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Peter Bain Forex Trading Commentary for Thursday June 22, 2006

Forexmentor.com Forex Trading Price Action

Well, the dumb money almost had us fooled!!

They bid the euro up above the 200 EMA on the 4 and 1 hour charts, setting up a fabulous short opportunity at the London open today on a channel breakout. Don't ever tell them the overall trend is down, as reflected on the weekly and daily charts, and supported by COT data. That's our little secret. We want them to be in the dark, and on the other side of our trade at all times. It takes guts to go against the flow, especially after their aggressive buying of late. But, that's what technical analysis is all about, with a heavy dose of patience thrown in.

For more on how to know where price is going, consult the members library at ForexMentor.com, where you will find a wealth of trading strategies, tips and techniques.

See today's chart at: http://www.forexmentor.com/campaign/june2206.html

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

Peter Bain Forex Trading Commentary for Wednesday June 21, 2006

Forexmentor.com Forex Trading Price Action

Right now, with the weekly and daily charts for the euro reflecting bearishness, the 200 EMA is a good indicator to use on the lower level charts (4 and 1 hour) to see where price is going, and to anticipate its next move.

For instance, as I write this, price is testing the 200 EMA on the 4 and 1 hour charts at the 2624 level, which just happens to be a pivot level. And, the 200 EMA is angled down on both charts. Where do you think price is going? I'll give you a clue. It isn't up. Years ago the 200 EMA was voted the best indicator of the 99 available to traders. So, while price would have us believe that there is upside momentum, the 200 EMA tells us otherwise.

For complete analysis, watch the AM Video Review (members only).

See today's chart at: http://www.forexmentor.com/campaign/june2106.html

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

Peter Bain Forex Trading Commentary for Tuesday June 20, 2006

Forexmentor.com Forex Trading Price Action

The trend across the board on the euro is DOWN!!!!! That is reflected at all levels but,more specifically, by the attitude of the 200 EMA on the hourly and the 89 and 144 EMAs on the 15 min. Sell the rallies in a downtrend. Remember? Do you hear an echo yet?

Today was no exception. Price came into today's session below the 89 and 144 EMAs on the 15 min., and then tried to buck the overall trend (read, DOWN) - rising to the expected high on the day (M3) - and being repelled at that level - just above the 144 EMA. Who could have guessed? This business is easy once you get the hang of it. No brain damage required.

For more on the trading styles of the rich and famous currency traders, consult the extensive members library at Forexmentor.com.

See today's chart at: http://www.forexmentor.com/campaign/june2006.html

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

Peter Bain Forex Trading Commentary for Tuesday June 20, 2006

Forexmentor.com Forex Trading Price Action

The trend across the board on the euro is DOWN!!!!! That is reflected at all levels but,more specifically, by the attitude of the 200 EMA on the hourly and the 89 and 144 EMAs on the 15 min. Sell the rallies in a downtrend. Remember? Do you hear an echo yet?

Today was no exception. Price came into today's session below the 89 and 144 EMAs on the 15 min., and then tried to buck the overall trend (read, DOWN) - rising to the expected high on the day (M3) - and being repelled at that level - just above the 144 EMA. Who could have guessed? This business is easy once you get the hang of it. No brain damage required.

For more on the trading styles of the rich and famous currency traders, consult the extensive members library at Forexmentor.com.

See today's chart at: http://www.forexmentor.com/campaign/june2006.html

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