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.

Read First: Trade Rules!!

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September 2006

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Trade Review: USD/CAD

Posted 22:03 19 September 2006 | 3

Apparently, the negative US economic news today wasn't enough to strengthen the loonie against the US Dollar. With consumer price inflation dropping, we may be seeing a slowdown in growth for Canada. Is this a sign of what's to come from the great run the Loonie has had against the Greenback? Only time will tell, but for now our short trade was entered, then unfortunately stopped out. Grrrr!! In hindsight, a good ol' breakout would've done just fine, but that's hindsight - we learn what we can and hope not to make the same mistake twice. On to the next trade!

Lot 1: -20 pips

Lot 2: -20 pips

Total: -40 pips

Comments (3)

this is the Live Comment Preview test
Mihai | Posted 13:23 10 October 2006
Test.
Odell | Posted 15:58 10 October 2006
This is a test cool test. How's it going?
Odell | Posted 22:06 26 October 2006

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