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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Trade Review: GBP/USD

Posted 22:55 31 May 2006 | 0

From the consolidation, we see a breakout during the euro trading session. A strong move downward triggered our short trade, and within the next five hours we reach full profit potential. Hopefully, everyone caught some pips!

Short trade entered:

Lot 1: +20 pips

Lot 2: +47 pips

Total: +67 pips

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Forex Blog: Pick of the Day

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