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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June 2006

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Trade Review: NZD/USD

Posted 23:10 06 June 2006 | 0

As suspected, we saw dollar buying at the beginning of the euro session open. Shortly after the open there was a strong reversal, but not enough to hit our stop loss level. Dollar buying resumed and we saw pt1 hit, and then we closed our position at 5 pm EST. Hopefully, everyone caught some pips!

Lot1: +15 pips

Lot2: +16 pips

Total: +31 pips

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Forex Blog: Pick of the Day

"There are two kinds of failures: those who thought and never did, and those who did and never thought."
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