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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Pick of the Day: No Trade

Posted 20:36 21 June 2006 | Comments

I've been reading news reports and looking at charts all day and to be honest, there really isn't a trade jumping out at me. It's been a range bound week for many pairs with the lack of significant economic reports and I think tomorrow is probably going to be the slowest day of the week. Also, I do not see any chart patterns that has a high enough probability of being profitable. So, I am going to hold off on a trade idea until tomorrow evening and hopefully then we'll see something form.

P.S. - Don't forget to check out Big Pippin's and Pipcrawler's new signal blogs!