Tuesday, November 29, 2005

Forex Trading - 11/29/05

6:15 pm- No Trades

I know what you're thinking...no trades?! Yes there was an Alba breakout and you might've even traded it but for me, it was too close to the U.S. Durable Goods report. One of my rules is that I don't like to make trades around news reports because it is very risky. It just so happened that today's report worked out for the Alba system. I am still posting a chart with what I would've done had I taken the trade. If there was no news report at 8:30 it would've been another nice day for me. Even though today's trade worked out, I encourage you all not to trade around news report times as it is unpredictable and causes huge spikes. Anyways, hope you all did well today. ~Big Pippin

8:00 am - Analysis

Good morning! Today we have a slew of US economic reports coming out, and with the eurusd in a 28 pip range during the EU session, it looks like traders are waiting until this morning to jump back into the game. At 8:30 am EST we have Durable Goods Orders and Durable Ex Transportation, and at 10:00 am EST Consumer Confidence and New Home sales coming out. The consenses numbers are higher than previous, so look for the dollar to be stronger after the reports. Again, stay alert and always have a plan for a breakout in either direction. Good luck and good trading! ~PipCrawler

EU Session High: 1.1838
EU Session Low: 1.1810

1 comment:

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