http://www.babypips.com/blogs/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. Read First: My Trading Framework!! en Copyright 2013 Wed, 15 May 2013 05:42:49 -0500 http://blogs.law.harvard.edu/tech/rss No luck on this go around as the pair didn't retrace quite enough to trigger my first set of orders at the 38% Fibonacci area. With EUR/USD now testing the 1.2900, I've decided to close it down and look for a new opportunity this week. http://www.babypips.com/blogs/pick-of-the-day/a_simple_fib_setup_on_eurusd.html http://www.babypips.com/blogs/pick-of-the-day/a_simple_fib_setup_on_eurusd.html Wed, 15 May 2013 05:42:49 -0500 Good morning forex friends! Well, it looks like once again I had a good idea that went my way, but going for big pips kept me from closing with some sure pips on EUR/CAD. Here's how it all played out. http://www.babypips.com/blogs/pick-of-the-day/shorting_the_swing_lower_in_eu.html http://www.babypips.com/blogs/pick-of-the-day/shorting_the_swing_lower_in_eu.html Fri, 03 May 2013 04:25:57 -0500 No matter how much weak euro zone data was thrown at it, euro bulls held strong and 1.3000 never really broke! Given the odd strength of the euro, I decided to reduce my risk and close it all down. http://www.babypips.com/blogs/pick-of-the-day/short_eurusd_on_psychological.html http://www.babypips.com/blogs/pick-of-the-day/short_eurusd_on_psychological.html Thu, 25 Apr 2013 07:15:53 -0500 Don't you hate it when you're both right and wrong about a trade? That was essentially the case as my directional bias and UK data expectations were negated by a misadjusted stop and a lot of volatility. http://www.babypips.com/blogs/pick-of-the-day/swing_short_on_gbpjpy.html http://www.babypips.com/blogs/pick-of-the-day/swing_short_on_gbpjpy.html Thu, 18 Apr 2013 05:45:31 -0500 Good morning forex friends! There wasn't much of a break last week for USD/CHF as the pair hung around the .9300 area, despite more weak data from the US. With the start of a new week, and some really bad Chinese GDP data to kick it off, I closed my trade and moved on. http://www.babypips.com/blogs/pick-of-the-day/support_break_on_usdchf.html http://www.babypips.com/blogs/pick-of-the-day/support_break_on_usdchf.html Mon, 15 Apr 2013 05:19:22 -0500 Good afternoon forex friends! My, oh my how time flies as we head into April, which means Q1 2013 is now in the books. As always, it's that time again where I take a moment to look back at how I did from January through March. http://www.babypips.com/blogs/pick-of-the-day/reflecting_on_my_q1_2013_perfo.html http://www.babypips.com/blogs/pick-of-the-day/reflecting_on_my_q1_2013_perfo.html Mon, 08 Apr 2013 10:45:27 -0500 Once again, Draghi threw in a few comments that surprised market players, and when coupled with massive moves thanks to the BOJ, it was quite an active few sessions for currencies. Here's a review of how I played EUR/USD through it all last week. http://www.babypips.com/blogs/pick-of-the-day/falling_trendline_on_eurusd.html http://www.babypips.com/blogs/pick-of-the-day/falling_trendline_on_eurusd.html Mon, 08 Apr 2013 03:43:00 -0500 Good morning forex friends! The weak euro sentiment sparked by the Cyprus bailout continued to play out through the Monday US trading session, punishing the euro, and hitting my max profit target. http://www.babypips.com/blogs/pick-of-the-day/shorting_eurusd_on_a_pullback.html http://www.babypips.com/blogs/pick-of-the-day/shorting_eurusd_on_a_pullback.html Tue, 26 Mar 2013 03:25:50 -0500 Once again, a European event takes me out of my USD/JPY trade! Thanks to an surprising, unprecedented bailout plan for the small island nation of Cyprus, we saw a massive move in the global markets as soon as they opened in Asia. http://www.babypips.com/blogs/pick-of-the-day/pullback_on_the_usdjpy_uptrend.html http://www.babypips.com/blogs/pick-of-the-day/pullback_on_the_usdjpy_uptrend.html Mon, 18 Mar 2013 03:55:21 -0500 Good morning! It looks like the markets moved my way this week as Cable sellers jumped in at the top of the range and pushed the pair back to previous swing lows, hitting my profit target. http://www.babypips.com/blogs/pick-of-the-day/swing_short_on_the_cable_range.html http://www.babypips.com/blogs/pick-of-the-day/swing_short_on_the_cable_range.html Thu, 07 Mar 2013 05:15:13 -0500 You know how I always say, "anything can happen in the currency markets?" Well, we saw a good example of that yesterday as the Italian elections caused massive moves in the global financial market--and it wasn't a good thing for my USD/JPY trade. http://www.babypips.com/blogs/pick-of-the-day/swing_long_on_usdjpy.html http://www.babypips.com/blogs/pick-of-the-day/swing_long_on_usdjpy.html Tue, 26 Feb 2013 03:30:16 -0500 It looks like it was a one-way road for Cable as the pair continued its decent to 1.55 without the pullback I was hoping for to add to my position. With a major area of interest being tested and the G20 summit weekend coming quick, it's time to call this swing trade quits. http://www.babypips.com/blogs/pick-of-the-day/swing_short_on_gbpusd_retracem.html http://www.babypips.com/blogs/pick-of-the-day/swing_short_on_gbpusd_retracem.html Thu, 14 Feb 2013 04:00:16 -0500 Good evening! It looks like going with technicals for the Friday session didn't pan out as Cable rallied higher on a sentiment shift of flows from the eurozone to the UK. http://www.babypips.com/blogs/pick-of-the-day/another_cable_day_trade_short.html http://www.babypips.com/blogs/pick-of-the-day/another_cable_day_trade_short.html Fri, 08 Feb 2013 21:30:15 -0500 Cable sellers weren't messing around during Tuesday's session as they pushed the pair lower without hesitation during the US session. It looks like my entry level is out of reach ahead of the BOE event with all this GBP bearishness, so I'm closing my open orders. http://www.babypips.com/blogs/pick-of-the-day/shorting_cable_ahead_of_boe_de.html http://www.babypips.com/blogs/pick-of-the-day/shorting_cable_ahead_of_boe_de.html Wed, 06 Feb 2013 03:30:18 -0500 It looks like no luck during Thursday's session for me to get a pullback on USD/CHF. With US NFP coming up quick in a few hours, it's time to close down my orders to avoid event risk. http://www.babypips.com/blogs/pick-of-the-day/day_trade_short_on_usdchf.html http://www.babypips.com/blogs/pick-of-the-day/day_trade_short_on_usdchf.html Fri, 01 Feb 2013 05:50:42 -0500