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.

Read First: My Trading Framework!!

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June 2006

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Trade Review: EUR/JPY

Posted 7 years ago | 11:07 PM | 07 Jun 2006 | Comments

We saw further correction in the pair last night, and it was enough to trigger our long play at 144.76. Soon after the entry, pt1 was hit, while it took the rest of the trading day for the pair to reach pt2. Good job to those who caught some pips!

Lot1: +22 pips

Lot2: +48 pips

Total: +70 pips