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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August 2006

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Trade Review: EUR/JPY

Posted 20:36 02 August 2006 | Comments

The markets remain silent throughout most of the Euro trading session, with a little bit of volatility during the Euro/US session overlap. The volatility wasn’t enough to push the pair down to our short entry order. In hindsight, I should have placed a short entry in the 147.00 price area as the pair found resistance there previously. A lesson learned and on to the next trade!