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.

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March 2006

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Trade Reviews

Posted 22:27 23 March 2006 | Comments

AUD/USD

Pair has hit the bottom of the channel for a total of 157 pips. Exited trade.

NZD/USD

Well, the pair moved down as expected and made my entry criteria. Now depending on where you got in and your brokers' prices you may have gotten stopped out with the 20 pips stop. If you didn't get stopped out then you would've hit 10 pips and then the aggressive price target of .6192. Congrats! By the way...I got stopped out =(