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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August 2006

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Trade Review: USD/CHF

Posted 19:02 16 August 2006 | Comments

It looks like we got a little lucky today as our short entry was triggered and was nearly stopped out! Luckily, the CPI and US Housing starts came in numbers lower than expected causing a sell off in the greenback and our trade to come to full profitability.

Lot 1: +20 pips

Lot 2: +50 pips

Total: +70 pips