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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Good evening! We got a few second tier events on the Forex calendar today with no major surprises, so it was an environment perfect for some support & resistance plays. EUR/USD was the perfect example today as divergences signaled some easy setups. … More…
It was a "ho hum" day in terms of price action as the FOMC interest rate decision compelled traders to wait on the sidelines until the announcement, and once 2:15 pm ET hit, there wasn't much to get excited about either. So, with the market not giving much in solid volatility today, I decided to share how I use the ATR in my day trading framework… More…
For all of you Nostradamus types who thought my "Pick of Day" would be on that awesome surprise UK GDP inspired move on the British Pound...sorry but that'd be too easy. Plus Huck's got a trade idea on Cable, so I'll let her study that market with ya. For today I'll study EUR/USD's price action and setups we could catch in the future. … More…
For today's "Pick," I'd like to study price action in AUD/USD as we saw a nice one way move after breaking the tight Asia session range and Friday's high. This is a great chance to study the simple "Break and Retest" strategy for a nice return-on-risk. … More…
What a day for currencies as China's read on various economic data points today brought out the beast every US Dollar seller fears--risk aversion. China's inflation situation, coupled with weak UK CBI industrial trends data and positive US data lead to a couple of really nice plays in Cable and making it my "Pick of the Day." … More…
Good afternoon! Today was full of nice reactions and great trade setups like Cable's range in between its opening price and the top of its daily range and USD/CAD finding support at the bottom of its daily range, but my "Pick of the Day" goes to NZD/USD for mixing up divergence and candlestick patterns against my horizontal levels. … More…
Good evening! Got some fresh data today to spark a bit of volatility in the markets. We saw plenty of great reactions to my usual inflection points in the majors, but the best setup of the day in my opinion goes to a reversal signal in EUR/USD. Check it!… More…
Greetings! With a few other FX-Men already sharing their discretionary swing trading and mechanical system experiences,I thought I'd do my part to help those jumping in probably one of the most difficult trading methods one can attempt: discretionary day trading...check it! … More…
Good morning Forex friends and welcome back! My trade was closed during the closing moments of 2010, so it's time to do a review of how my adjustments played out...check it!… More…
