Pick of the Day: EUR/USD - Trade Closed
My short position triggered and the resistance area held out for most of the European trading session, but a rise in oil and hawkish comments from ECB council member… 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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August 2008 Monthly Archive
Pick of the Day: GBP/USD
Tonight's trade idea is on Cable, and it's not for the faint of heart. My question is, "who's ready to catch a falling knife?" I am!… More…
Pick of the Day: EUR/USD - Close Open Orders
The EUR/USD never made it any higher than 1.4900 during today's trade before the Greenback began to rally across the board on oil weakness. I am going to… More…
Pick of the Day: GBP/USD - Close Trade
It's the end of the trading day and it looks like Cable isn't going to make a push lower anytime soon. I've decided to close my position and move on to green pastures.… More…
Pick of the Day: USD/JPY - Close Open Orders
USD/JPY continued to rally as traders pushed the pair up above 110.00 at the end of the week. I have decided to… More…
Pick of the Day: EUR/USD - Trade Closed
After my trade adjustment, EUR/USD fell once again back to Euro session low, around 1.4860, where it triggered my adjusted profit target and closed the trade out. … More…
Pick of the Day: No Pick
The Dollar train has been steaming along in the last few trading sessions after Trichet's comments on Eurozone growth. While it has been a good trade to go with the momentum, it may be a bit more prudent to… More…
Pick of the Day: GBP/USD - Close Trade
I have managed to make back much of the earlier loss, and with the end of the Euro/US trading session at hand, I have decided to close my trade and chill out for the weekend… More…
Pick of the Day: USD/JPY - Trade Closed
Well, the fundamentals was on the Fed was right and expectations of US rate hikes got kicked out of the door, but the markets decided to continue to push the Greenback higher, mostly on… More…
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