Pick of the Day: GBP/USD - Close Open Orders
Cable fell as hoped, but missed my short entry orders at 1.59 before doing so. Doh! Since I missed the move on this blog, I have decided to close my entry orders to look for another opportunity.… 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 - Trade Closed
The FOMC cut rates by 50 basis points yesterday, which was enough to push EUR/USD further up to my entry orders at 1.3000. Unfortunately, it pushed it up way more than that as… More…
Pick of the Day: USD/JPY - Close Open Orders
It looks like I wasn't able to get in the USD/JPY drop as the pair was not able to rally back up to 102.00. It just dropped like a rock making lows around… More…
Pick of the Day: USD/JPY - Trade Closed
USD/JPY continued to fall today on risk aversion, and after hitting 101.00 I adjusted my stop to 101.50. Unfortunately, it bounced higher and… More…
Pick of the Day: EUR/USD - Close Trade
Good morning! With the Euro/US overlap coming to a close and my second profit target being hit, I've decided to pack it up for the week and bank my profits. With the G7 meeting going on this… More…
Pick of the Day: USD/JPY - Trade Closed
My trade closed as USD/JPY rose to my adjusted stop during the morning US trading session. … More…
Pick of the Day: USD/JPY - Close Trade
Non-Farm Payrolls came out weaker than expected (-159K), immediately pushing down USD/JPY past 105.00. Unfortunately for my position, the pair quickly found buyers around 104.50 and… More…
