Pick of the Day: EUR/USD - Trade Closed
My short bias on EUR/USD proved to be correct as the pair drops below 1.36, but not before price action whipsaws an entry to the long side and stopping me out...doh!… 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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Latest Posts
August 2007
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August 2007 Monthly Archive
Pick of the Day: None
With the lack of any major events within the next 12 to 24 hours, I don't see much movement for tomorrow. We will probably see more… More…
Pick of the Day: EUR/USD - Trade Closed
My short bias on EUR/USD proved to be correct as the pair drops below 1.36, but not before price action whipsaws an entry to the long side and stopping me out...doh!… More…
Pick of the Day: USD/CHF - Trade Closed
After our trade adjustment on Friday, USD/CHF shot up back to our entry level and closed out our remaining position at break even.… More…
Pick of the Day: GBP/USD - Trade Closed
Well, it looks like a return to risk as higher yielding assets rallied against low yielding assets during the morning European trading session… More…
Pick of the Day: USD/CAD
Good evening! The Loonie has been on a tear a against the Greenback and we may see more to come with Canadian CPI and Retail Sales later today. … More…
Pick of the Day: USD/JPY -Trade Closed
Our trade reached full profitability as Yen strengthens on further carry trade unwinds.… More…
Pick of the Day: EUR/USD - Trade Closed
Our trade reaches the second profit target as the Dollar marches on... … More…
Pick of the Day: USD/CHF - Trade Closed
It looks like risk aversion took over the markets once again as equity markets sell off, carry trades unwind, and traders flock to the Dollar... … More…
Pick of the Day: USD/CHF - Trade Closed
After locking in profit on the first half of our position on Friday, the Greenback rallied against the Swissy to close out the remainder of our position at breakeven. … More…
Pick of the Day: GBP/USD - Trade Closed
The Bank of England released their Inflation Report earlier this morning showing further inflation concerns and signaling that more rate increases may be necessary.… More…
Pick of the Day: EUR/USD -Trade Closed
Our entry order to go long at 1.3745 was triggered a couple hours ahead of the Fed Interest Rate statement. After our entry, the market ranged in between 1.3740 to 1.3750 until… More…
Pick of the Day: None
With potentially market moving data coming up later today, most notably Interest Statements for the Eurozone and UK, that will be no "Pick" this evening as we may see small, limited moves ahead of time.… More…
Pick of the Day: EUR/USD - Trade Closed
We started August with a small profit as the Greenback continued to rally against the Euro throughout the Asian/Euro trading session.… More…
Pick of the Day: USD/CHF - Trade Closed
After our trade adjustment on Friday, USD/CHF shot up back to our entry level and closed out our remaining position at break even.… More…
Pick of the Day: GBP/USD - Trade Closed
Well, it looks like a return to risk as higher yielding assets rallied against low yielding assets during the morning European trading session… More…
Pick of the Day: USD/CAD
Good evening! The Loonie has been on a tear a against the Greenback and we may see more to come with Canadian CPI and Retail Sales later today. … More…
Pick of the Day: USD/JPY -Trade Closed
Our trade reached full profitability as Yen strengthens on further carry trade unwinds.… More…
Pick of the Day: EUR/USD - Trade Closed
Our trade reaches the second profit target as the Dollar marches on... … More…
Pick of the Day: USD/CHF - Trade Closed
It looks like risk aversion took over the markets once again as equity markets sell off, carry trades unwind, and traders flock to the Dollar... … More…
Pick of the Day: USD/CHF - Trade Closed
After locking in profit on the first half of our position on Friday, the Greenback rallied against the Swissy to close out the remainder of our position at breakeven. … More…
Pick of the Day: GBP/USD - Trade Closed
The Bank of England released their Inflation Report earlier this morning showing further inflation concerns and signaling that more rate increases may be necessary.… More…
Pick of the Day: EUR/USD -Trade Closed
Our entry order to go long at 1.3745 was triggered a couple hours ahead of the Fed Interest Rate statement. After our entry, the market ranged in between 1.3740 to 1.3750 until… More…
Pick of the Day: None
With potentially market moving data coming up later today, most notably Interest Statements for the Eurozone and UK, that will be no "Pick" this evening as we may see small, limited moves ahead of time.… More…
Pick of the Day: EUR/USD - Trade Closed
We started August with a small profit as the Greenback continued to rally against the Euro throughout the Asian/Euro trading session.… More…
