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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May 2006

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Trade Review: AUD/USD

Posted 20:01 29 May 2006 | Comments

It seems in the last few days this pair has been stuck in a range between the 23% and 32% Fibonacci area. It looks like the correction may be exhausted and a continuation of a bullish run up may be in store for the Aussie. No trade was entered from this recommendation, but I will continue to watch for a possible break.