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.
Read First: My Trading Framework!!
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Soon after I posted my trade idea, news came out that the books from Ireland banks would be examined to see whether or not they can handle the debt load. This bit of news seemed to have calmed the markets down enough to spark an unwind of USD positions and a EUR/USD rally. … More…
My trade orders were triggered as the Greenback rallied against the majors on a renewed focus on European debt issues. Unfortunately for my trade, and the EU, these worries have intensified, pushing USD/CHF to my stop out level. … More…
