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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September 2006

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Trade Review: GBP/USD

Posted 22:00 06 September 2006 | Comments

Well, it looks like we got a winner last night with a continued drop in the GBP/USD on rising inflation concerns in the US and inline numbers out of the UK. Within a few hours, the pair dropped and easily triggered our entry point. Pt1 and pt2 were easily hit for a nice total of +80 pips in the bag!

Lot 1: +20 pips

Lot 2: +60 pips

Total: +80 pips