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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Trade Review: EUR/JPY

Posted 7 years ago | 11:14 PM | 20 Jul 2006 | Comments

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