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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July 2006

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Trade Review: USD/JPY

Posted 21:36 11 July 2006 | Comments

Well, it looks like the downtrend in USD/JPY never resurfaced so there was no trade triggered. Actually, before the pick was released, the pair did touch the price level, so it was a good thing we didn't get in that earlier move. So, it looks like traders will be on the sidelines with the Yen as we wait for the interest rate statement release on Friday. On to the next trade!