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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April 2006

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Trade Review: GBP/USD

Posted 22:58 19 April 2006 | Comments

First, I'd like to apologize for not being able to have this Pick up on the site at 12:00 am EST. We've had some technical issues lately. I did, however, post my pick on some of the well known forex forums, so hopefully some of you caught it there. For those who did, what a day! As predicted there was some movement from the release of the April BOE meeting, but the pair didn't really take off until the US CPI report was released. PT1 and PT2 were hit for a nice profit. Total move from entry to PT2 is +82 pips!