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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Trade Review: USD/JPY

Posted 23:56 25 July 2006 | 0

The market was expecting lower numbers out of the US reports today, so what happens? Numbers were better than expected(even an upward revision of the previous existing home sales report) and the US dollar takes a nice ride to the upside! So, we didn't a short entry at all. It's been a tough market, so hopefully we can find some pips for the rest of the week.

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