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It should come as no surprise to you all that the USD/CHF pair has been in a free-fall, given the Big Dogs were extremely short the Swissy - setting up the fall. Once the dumb money jumped on the bandwagon, it was, ‘Watch out below!’ Of course, I alerted you all to this fact earlier on - so, once I give you such information, you should play Dr. Sleuth, and get ready to ‘Sell the rallies in the downtrend!’ Take today, for example. All chart levels were showing price weakness, coming into today’s session. Using an oscillator like STO (Stochastics), it’s then simply a matter of selling those rallies folks. It doesn’t give much easier than that, once a currency pair gets on a roll. Trends are beautiful (like poetry in motion), once they reveal themselves. We go into great detail on how to use indicators properly in the members area at www.forexmentor.com. See you there, and at the bank.

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Okay, there was clear evidence on the daily, 4 hour and 1 hour charts last night that the euro had some wind in its sails. So, it was no big surprise today to see price rise up to the M3 level - the expected high for the day. Then, the news embargo lifted at 8:30 am, and the euro reacted negatively. Then, what to do? Well, by now, most of our members know we have a number of systems to trade the aftermath of news.

There’s the KTTN system that talks about using buy/sell stops to bracket price action after the news comes out. And then, of course, there’s my favorite - Teresa Burnett’s rendition on how to be a trading sleuth using technical indicators. All of this stuff is available to our members in the members area at

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Referencing the pound today, COT sees the Big Dogs as being net short this currency. Well before the London open, the 1 hour MACD was signaling bearishness (it being below its trigger line, and heading down towards the waterline), and the 15 minute chart was showing signs of a downtrend continuation pattern in the works. And, of course, that pattern case to fruition after the London open.

One of the things to look for when you suspect that a downtrend continuation pattern might take place is to watch the behavior of MACD on the 15 minute chart. There, you will see it neutralize back up to the waterline - in this case - all the while price slithers sideways in a price equilibrium (or consolidation) pattern.

Once MACD has neutralized at the waterline, this then sets the stage for further price weakness, and MACD heads south accordingly.

We have a module in the library at ForexMentor.com that addresses the various price patterns you will encounter when you are trading the forex. See you there - and at the top and at the bank! Ka-ching!

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Today I’m going to talk about the euro. But first, the USD/CAD pair is STILL in an UPTREND, this
despite a good jobs report on Friday. One piece of positive news
does not a trend change!

And, now back to the euro - this because Herb Schmidt wanted
to know if he was safe with his shorts at 1.2770Â and a second
lot at 1.2787. He asked this question last week, and I
responded on Friday that he should be careful, given
some strength I saw in the charts.

Well, today we had an uptrend continuation pattern unfold on
the 15 minute chart, driving price ever higher. But, what I see
happening is a paradox. According to the monthly and weekly
charts, we’re in a down-trend, whereas the lower level charts
would have you believe other-wise. Translation: A good short
opportunity in the works, if you believe what an oscillator like
Stochastics (STO) is telling us (read, overbought).

For more on price patterns and how indicators
work, head on over to the members area at

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I hate to admit that I have a love
affair going with the Canadian dollar
lately, but I do - mainly because I
am heavily committed to it. Not that
I see the loonie rising. Far from it.

I see the USD/CAD pair continuing to
rise because of all the bad economic
news coming out lately driving the
loonie down. And, it ain’t going to
get any better for the loonie any
time soon folks. Fundamentals are
like the Queen Mary. They change
direction ever so slowly. And,
right now, they say the Canadian
economy is in for one heck of a
rough ride.

That can be either good or bad -
good if you’re short the loonie -
which we are with our long USD/CAD
positions. Right folks!? Yesterday,
we had an up- trend continuation in
the works on the 15 minute chart,
and it came to fruition today, once
MACD neutralized back to the
waterline. There was also evidence
on the higher level charts that
this pair had wind in its sails.
That’s the value of top-down analysis.
For more education on what the Big Dogs
know that they are hiding from you,
you’ll find those well-kept secrets in
the members area at

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You all are in the USD/CAD position trade, right?
Please say yes. I’ve been beating that drum now
for the past couple weeks. There’s an old saying,
“Some will, some won’t, so what.”

Now maybe you’ll believe me when I say we are in
an up-trend on this pair? In this business, it’s
far too easy to be negative, and do anything but
pull the trigger. That’s the easy way out. It
takes courage to take a position, and stick to it.

Yesterday, we had what appeared to be a downtrend
continuation pattern unfolding on the 15 minute
chart. But, ta-daaaaa!!!

There was such a thing as a demand (support)
trendline on the weekly chart that looked like
it would hold. And, sure enough it did. What
was supposed to be a downtrend continuation
pattern turned out to be a downtrend reversal
pattern. Price came into today’s session, found
support at the central pivot point, and immediately
headed for M4, the expected high on this M2/M4 day.

For more on what all this exciting stuff means,
all you have to do is go to the members area at
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