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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December 2006

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PIck of the Day: None

Posted 01:06 08 December 2006 | Comments

We have the monster of all reports tomorrow in the US Non-Farm Payrolls! For this report, I usually wait until the number is released and guage the market reaction looking to fade the move, so that's what we will do tomorrow.

So far consensus has been pretty wide with tomorrow's number, so we may see a muted reaction in which a market will stay within it's daily range. Soon after the number is released, we'll have an estimation of where we may see a reversal, and trade a reverse in movement. So, tune in 8:30 am EST for a possible US session "Pick of the Day" after the US Non-Farm Payroll numbers are release! Until then, good luck and good trading!