About Pick of the Day

Pick of the Day Author

At the end of each trading day, I will find what I believe is the best looking short term trade setup for the upcoming trading day. 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. Trades will be posted by 1 am ET, Monday through Thursday evening.

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July 2006

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Trade Review: EUR/JPY

Posted 23:14 20 July 2006 | 0

As predicted we saw the rise in the EUR/JPY, but unfortunately we didn't see the resistance at the 147.50 level as expected. Our trade quickly turned into a loss as we were stopped out within the next hour. Arrrrgghhhh!!! Let's just shake it off and focus on the next trade.

Lot 1: -30 pips

Lot 2: -30 pips

Total: -60 pips

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Forex Blog: Pick of the Day

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