Friday, November 18, 2005

Forex Trading - 11/18/05

7:30 pm- 1 Trade Won

Good evening everyone. Even though there were no major news reports today, the ECB announced that they are planning to raise rates to slow inflation. So of course, the EUR/USD skyrocketed and made Alba scream. There was an Alba breakout at 9:00am EST and I entered 3 lots long at 1740 with a s/l at 1688 and a target at 1772. My target was hit at 9:30 and I closed 2 lots and moved my last lots stop to the low of that candle which was 1761. That is where my last lot eventually got stopped out. Yea it was a great day but wait.....theres more! Yes, there was another Alba breakout at 11:20am EST and I entered 3 lots long at 1737 with a s/l at 1710 and a target at 1754. My target was hit at 11:40 and I closed 2 lots and moved my last lot's stop to the low of that candle which was 1743. Unfortunately that is where my last lot was stopped out. So it was a great way to end the week and once again, Alba has treated us well :) ~Big Pippin

Results:
+64 +21 -9(spread)= +76 pips
+24 +6 -9(spread)= +21 pips
Total: +97 pips














8:00 am- Analysis

Good morning! During the EU session the dollar bulls took over again pushing the EURUSD from 1.1725 down to 1.1664. Is the downtrend resuming? We'll just have to wait and see. But for now, it's friday and there aren't any economic reports coming out in the US today, so I don't see any potential for strong movement. If you had a good week, which i'm sure you did with the help of Alba, today would be a great day to start the weekend early and get away from those charts! Sunday evening, don't forget to look out for Pip Daddy's Awesome Analysis at Babypips.com! Good luck, good trading, and have a great weekend!! ~ PipCrawler


EU Session High: 1.1725
EU Session Low: 1.1664

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