Every day, I will try to find what I believe is the best looking short term currency trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology behind price movements in the foreign exchange markets, so you can learn to analyze your own currency 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.
Posted 11 years ago |
10:20 PM |
30 March 2006No 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!