ForexMentor AM Review

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

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)?


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