Pick of the Day: USD/JPY - Trade Closed
It looks like my trade idea was good, but I made a mistake in execution with incorrect stop placement as USD/JPY barely touched 108.20 and … More…
About Pick of the Day
Each day, I will try to find what I believe is the best looking short term trade setup for the upcoming trading day or week. 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. I will post my ideas and/or reviews through out each session right here, on Twitter and on Facebook.
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Monthly Archive
Pick of the Day: EUR/USD
Not much for today's trade idea other than to continue to play the rising EUR/USD trend as traders continue to take bets off that the Fed will hike rates soon.… More…
Pick of the Day: EUR/USD - Trade Closed
Our trade was closed today as the US Dollar sold off as traders feel we may see the Fed hike rates later than first thought. … More…
Pick of the Day: EUR/USD - Close Open Orders
The Greenback continued to rally throughout the Asia and European trading sessions, bringing EUR/USD down to 1.5300 before the pair found buyers to stall the rally.… More…
Pick of the Day: USD/JPY - Close Open Orders
The Greenback continued to push higher on a broad base through the Asian and European session with no retracement.… More…
Pick of the Day: USD/CHF - Trade Closed
Our trade was triggered and stopped out this morning as US Dollar strength continues to grow after Bernanke's comments on inflation.… More…
Pick of the Day: EUR/USD - Close Open Orders
I have closed my open orders today as the Euro rallied higher on Trichet's comments that a rate hike may be in the cards for the next meeting to stabilize prices. … More…
Pick of the Day: USD/JPY - Close Trade
Looks like I'm going to have to shut this trade down as Bernanke's comments has signaled an end to the rate cuts and the Fed's focus on the US Dollar weakness.… More…
Pick of the Day: EUR/USD - Trade Closed
As hoped, EUR/USD rallied a bit higher to the 38% Fibonacci retracement level, and after hanging out just a bit above 1.56, the pair dropped as the US Dollar rallied on… More…
