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: USD/CHF

Posted 23:31 18 July 2006 | 0

Today's trade unfortunately stopped out with good US economic numbers. The overbought conditions I analyzed never saw a relief during the Euro session, possibly due to traders waiting out geopolitical issues and those turning to the US dollar for safety. Both lots stopped out with a loss.

Lot 1: -40 pips

Lot 2: -40 pips

Total: -80 pips

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Forex Blog: Pick of the Day

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