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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March 2006

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Trade Review: USD/CHF

Posted 22:20 30 March 2006 | Comments

I saw the candle close below the 200 SMA so I entered short at 1.3042. US GDP (Q4) came out at 8:30 am EST. Caused the dollar to go up, and then traders sold off the pair to easily hit my target of 1.3000. +42 pips!