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Winner: 2011-9-18 23:49

Aaand the votes are in! Drum roll please! So many brilliant ideas, but one stood out from the rest. The winner of the Trade of the Week Contest for September 19 to 23, 2011 is none other than Feczo!

Here’s his setup:

EUR/USD, Daily

EUR/USD Daily Chart

Long or Short: Short
Entry Point: 1.3830 (or below)
Stop Loss: 1.3939
Profit Target: 1.3366 (above fib 61.8 extension)
Risk Ratio: 4:1
Risk involved: 1% of account
Indicators: Fibo, SMA200, GraB strong downtrend resuming

Trade Rationale:

Technical – support turned resistance

Fundamental – the joint ECB and US.Fed. announcement only gave temporary uplift, long term the EU debt crisis is not solved

German Ifo Business Climate Index on Monday expected to be negative will push the pair lower.

Read more…

Congratulations! Every trader will now freeze in awe at the sound of your name. Okay, maybe not. But don’t be too surprised if someone asks you for an interview or an autograph!

For those who didn’t win, don’t give up! Put your thinking caps on for this brand new week and keep your eyes peeled for ’em sexy setups! Who knows, it may be your name that I’ll proudly be announcing next week!

Voting: 2011-9-17 00:00

For this week’s contest, we have four brilliant trade ideas to choose from. Which among them would you vote for?

Find out why these piptastic traders are bullish on the dollar and vote for whoever impresses you the most. Keep in mind that you have until 12:00 am EST on Monday, September 19, 2011 to cast your votes!

Submission: 2011-9-16 00:08

Alright boys and girls! It’s time to show off your setup-spotting skills!

Whether you’re the grand master of forex or a newbie who just wants to test your newfound knowledge, you’re invited to share your trade ideas to the community. Just follow the easy steps below:

  1. Create your very own thread under the Readers’ Choice: Trade of the Week forum.
  2. Make sure you follow the simple format stated in the official rules and regulations of the contest.
  3. Watch fellow forex fanatics vote for your trade!

Remember that submission is only until 12:00 am EST on Friday, September 16, 2011. Voting begins right after that so start putting up those winning setups!