Pick of the Day: EUR/USD - Close Trade
Good morning! It looks like I am short some EURUSD as the pair moved up yesterday to my entry point at 1.4000. It looks like sellers were waiting to jump in at… More…
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: USD/JPY - Close Open Orders
Good evening! It looks like I couldn't get into any positions this week as USDJPY did rise towards 97.00, but not enough as the pair did not trigger. With a possibly wild economic day coming up, I have decided to avoid event risk and close my trades orders out.… More…
Pick of the Day: USDJPY - Trade Closed
And yet another cruel day in the Forex markets...haha! Since I posted my trade idea, USDJPY did fall enough to trigger my long trade at 97.75. Unfortunately, today the pair went… More…
Pick of the Day: USDJPY - Close Open Orders
Good evening! It looks like USDJPY did not go my way as the pair broke out to the upside. I have decided to close my entry orders, especially as we head into US jobs data.… More…
Pick of the Day: USD/JPY - Trade Closed
Good morning! Last night, a report from Japan shows demand grew for overseas assets among Japanese investors, adding to the growing sentiment that the recession is abating. This sparked a … More…
Pick of the Day: USD/JPY - Close Trade
Good morning! My short trade idea in USD/JPY was triggered at 96.50, where it had quickly found resistance and sellers to push the pair down as low as 95.50. With the FOMC meeting minutes coming up this afternoon, I have decided to… More…
Pick of the Day: GBP/USD - Trade Closed
Good morning! I was able to catch some pips yesterday for a small gain as Cable rallied higher to hit my entry orders at 1.5180. Luckily, the pair dropped far enough to hit my first profit target, where I… More…
Pick of the Day: EUR/USD - Close Trade
Good afternoon! After waiting a few days of waiting, my short position was triggered as EUR/USD rallied after today's US employment data. Unfortunately, 1.35 did not hold for very long as… More…
Pick of the Day: EUR/USD - Close Trade
Good afternoon! It's the end of the trading week, so it's time to close up shop to avoid any weekend risk. EUR/USD failed to move anywhere after I entered short a couple of days ago as… More…
Pick of the Day: GBP/USD - Close Trade
What's up! It's another great afternoon, especially as GBP/USD falls today on news that the UK Treasury plans on selling a record number of gilts in an attempt to lift the economy out of recession.… More…
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