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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September 2006

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Trade Review: EUR/JPY

Posted 21:54 17 September 2006 | 0

We saw the euro sell off across the board at the beginning of the Euro trading session, and the sell off only accelerated as the Eurozone CPI report came out as expected at 0.2% and the Trade Balance was reported at 1.5B, lower than expected. So, our short trade triggered and hit both profit targets no problem! Great way to end the trading week!

Lot 1: +20 pips

Lot 2: +60 pips

Total: +80 pips

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Forex Blog: Pick of the Day

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