Pick of the Day: EURUSD - Close Open Orders
Good morning! Not much movements in the markets since I dropped in orders to go long EURUSD, but we did see the pair dip a bit lower to the 38% Fib area and rally up to the…
About Pick of the Day
At the end of each trading day, I will find what I believe is the best looking short term trade setup for the upcoming trading day. If you're a forex newbie, it can be tricky in the beginning trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology of price movements so you can learn to analyze your own charts and trade on your very own. Trades will be posted by 1 am ET, Monday through Thursday evening.
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Pick of the Day
Pick of the Day: GBPUSD
Good evening! I thought I'd end the week by throwing out a trade idea on GBPUSD. The US Dollar rallied on Thursday as a drop in global equities caused a run to the Greenback. Will we see more risk aversion trades into the weekend? …
Pick of the Day: USDJPY - Close Open Orders
Good morning Forex fanatics! It looks like I was a bit too conservative in my entry order as traders didn't want to wait until the market hit the 50% Fib before dropping some sell orders on USDJPY. …
Pick of the Day: USDJPY - Trade Closed
Good morning! It looks like I couldn't catch a break on my remaining position as USDJPY didn't quite reach 88.00 before buyers jumped in and took the pair back above 90.00.…
Pick of the Day: GBPUSD - Trade Closed
My short term trade produced a few pips as 1.6400 held back GBPUSD bulls throughout the Asia session. My first profit target was hit at 1.6350 ahead of the…
Pick of the Day: EUR/USD - Trade Closed
Good morning! The EURUSD continues to defy gravity as US Dollar weakness has been, and continues to be, the driver for financial markets in the past week or so. …
Pick of the Day: GBPUSD - Close Trade
Doh! US Dollar selling was strong across the board this week, pushing Cable higher and higher! My short entry orders at 1.6615 and unfortunately, there wasn't enough USD buyers at these previous resistance areas to …
Pick of the Day: EURUSD - Close Open Orders
Good afternoon! It looks like I didn't enough of a rally in EURUSD to trigger my short orders at 1.4400 before the pair dropped at the beginning of the European trading session. …
Pick of the Day: EURUSD - Close Open Orders
Good afternoon! It looks like EURUSD sellers have 1.4380 on lockdown as the pair could not stay above that area for very long during the Asia and European trading sessions, and then fell below 1.4300 during the US trading session. …
Pick of the Day: USDJPY - Close Open Orders
Good morning! It looks like I missed out on some strong risk aversion moves as USDJPY made a high around 95.30 (20 pips under my entry level) before dropping lower. …
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