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: USD/CAD

Posted 21:47 10 September 2006 | Comments

We saw a surprise from Canada this past Friday morning as employment numbers came out worse than expected. This caused a rally and triggered our long trade, in which we were narrowly stopped out. Luckily, US dollar strengthening continued and our trade reached full profitability!

Lot 1: +20 pips

Lot 2: +50 pips

Total: +70 pips