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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March 2006

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Trade Review: USD/CHF

Posted 21:56 08 March 2006 | 0

The pair triggered my short entry order at 1.3086. Unfortunately, my 30 pips stop wasn't enough space for it to move before it went back down. So, it's 30 pips down whether you went for the first profit target or the second profit target.

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