ForexMentor AM Review

The new Leading Professional Currency Trading System. Peter Bain shows you how to trade currencies like the Pros!

Tuesday, February 28, 2006

ForexMentor AM Review Feb. 28 2006

Testing New Currency Trading Ideas

Friday, February 24, 2006

ForexMentor AM Review Feb. 24 2006

Today, we had the continuation of a Steve Nison downtrend
continuation pattern on the euro wherein, after MACD
neutralized back up to its waterline, price was then free
to fall once more. And, fall it did, just before the London
open/Tokyo close – evidenced by a trendline break on the 15
minute chart, and a death cross of the 10 and 80 EMAs on the
5 minute. Now, guess where price was headed next. It sought
out trendline support at higher levels – the hourly and daily
charts, which provided support at the S1 level. Who could have
guessed? Given the picture-perfect unfolding of the downtrend
continutation pattern (leg two, after price equilibrium or
consolidation – read, traders chopping wood)?

Thursday, February 23, 2006

ForexMentor AM Review Feb. 23 2006

Using either the KTTN or MMTS systems to trade the aftermath
of news yesterday would have been the prudent thing to do,
as the 8:30 am ET swing point coughed up a nice run into today.
Even if you missed that trade, we had a nice channel breakout
today, as the Asian session finale and the opening of the
London/Tokyo sessions collided. This was evidenced, not only
by the breakout on the 15 minute chart, but also by observing
the relationship of stochastics on the hourly chart to the
behavior of the 10 and 80 EMAs on the 5 minute chart (read,
the ‘Jeff Hughes trade’). Yesterday’s ‘news trade’ was further
facilitated by a classic inverted head and shoulders pattern,
which also foretold the rise in price into today’s session.
Any way you slice and dice it, the trend at all chart levels
for the euro is UP!

Wednesday, February 22, 2006

ForexMentor AM Review Feb. 22 2006

The trend is still up on the daily chart for the euro,
further bolstered by the commercials’ COT sentiment
(read, bullish) on the pound. The ~1880 level seems to
find support at all chart levels. Certain key times of
the day (read, London close, Tokyo open, etc.) continue
to offer good swing trades, from a day trading perspective.
Of course, position traders will pay more attention to the
COT data, which comes out at 3:30 pm ET every Friday at
the site I reference in my course. Coming into today’s
session, price ‘knocked for the third time’ just shy of
the ~1930 level – at M3 (the expected high for the day),
read, M1/M3 day. A trendline break, just after the London
open, supported by good angle and separation on MACD,
facilitated a continuation of the swoon in price, which
saw a reversal in the form of a hammer at the S2 pivot
support level – just below the expected low (M1).

Tuesday, February 21, 2006

ForexMentor AM Review Feb. 21 2006

The ‘Big Dogs’ are going longer the Aussie, pound and Swissy,
according to the latest COT data. This is important info. for
position traders, and something day traders should be aware of.
The pound is caught in a symmetrical triangle in a downtrend on
the weekly chart, which is generally bearish. That said, price is
above the most recent resistance (supply or distribution)
trendline on the daily, as well as the demand (support) trendline
in force at that level. The GBP/USD pair reversed today at the
London open, in the form of railway tracks, and then headed up
to the expected high for the day (M3). That target was actually
exceeded by a ‘Joe Cheung’ price projection, which came to

Friday, February 17, 2006

ForexMentor AM Review Feb. 17 2006

Thursday, February 16, 2006

ForexMentor AM Review Feb. 16 2006

Wednesday, February 15, 2006

ForexMentor AM Review Feb. 15 2006

Tuesday, February 14, 2006

ForexMentor AM Review Feb. 14 2006

Friday, February 10, 2006

ForexMentor AM Review Feb. 10 2006

Thursday, February 09, 2006

ForexMentor AM Review Feb. 9 2006

Wednesday, February 08, 2006

ForexMentor AM Review Feb. 8 2006

Tuesday, February 07, 2006

ForexMentor AM Review Feb. 7 2006

Friday, February 03, 2006

ForexMentor AM Review Feb. 3 2006

Thursday, February 02, 2006

ForexMentor AM Review Feb. 2 2006

Wednesday, February 01, 2006

ForexMentor AM Review Feb. 1 2006