Price Action - EUR/USD History Repeats Itelf, Solstice Magic!

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December 21, 2006

December 21, 2006
From The Trading Desk of Peter Bain:

Now, repeat after me … “I have seen a downtrend continuation pattern before, and I know what MACD neutralization is all about. I know it will make money for me every time. As a matter of fact, I also know that there are three other patterns that are money-makers too: up- trend continuation, downtrend reversal and uptrend reversal. These patterns don’t occur all the time but, when they do, I immediately know what to do, because Peter showed me the way.” Seriously, folks, if you don’t know about these patterns by now, then check them out in the members area at www.forexmentor.com. Last night, well before the London open, the AUD/USD, EUR/USD, and GBP/USD pairs were all setting up for a fall (a.k.a. downtrend continuation pattern). Like- wise, the USD/CAD and USD/CHF pairs were both destined to rise (a.k.a. uptrend continuation pattern). That’s five trades for the price of one folks! Why not take them all, when you see them unfolding? It’s called ‘Ka-Ching Time.’ Easy money, all the way to the bank.

These patterns happen often enough that you should have them on a wall somewhere near your computer, as a constant reminder for you to be on the lookout for them. Price pattern recognition is one of the easiest forms of trading – quite literally, a no-brainer. I still maintain that the euro has topped out, and that the Canadian dollar (a.k.a. loonie or USD/CAD) has more gas in its tank. Would I lead you astray? Oh, and before I forget, it’s pretty safe to be in a trade before news time, while a pattern is unfolding, as it pretty much presages where price is going, after the news comes out. It’s called ‘following the smart money, who already have the news figured out ahead of time.’ Merry Christmas to all our wonderful members and members-to-be. See you tomorrow, the last AM Review day before that fat guy with the red suit shows up on your doorstep, or gets stuck in your chimney.

-Peter
forexmentor.com

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