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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As expected, Canadian CPI took USD/CAD down to my entry levels, but unfortunately it took the market way beyond that as well! My trade was quickly invalidated as traders went loony for the Loonie on renewed speculation of rate hikes in Canada...doh!… More…
Nice price action in Cable during the Wednesday session and the good news is that it looks like my gut was somewhat right on how the market played out. The bad news is that I may have been TOO conservative on my entry...doh!… More…
USD/JPY failed to make any moves lower during Thursday's session, so it's no trade for me as I closed my orders and the end of US trading.… More…
Well, that was quick! We did see volatility in EUR/JPY during the afternoon Asia session, enough to push the pair higher, but not enough to trigger my short orders before dropping...doh! Since the pair didn't play out exactly as I hoped, I closed my open orders.… More…
I decided to close out my short USD/CAD trade before we head into a slew of major economic events. With global data and market reactions trending towards "negativeville," I feel like if I held on to a Dollar short position I'll get burned. Check it out!… More…
Good evening forex friends! Here is my trade review of my short Cable trade after closing my position down ahead of the Friday Non-Farm Payrolls report. Check out how my trade worked out!… More…
