Tuesday, December 20, 2005

Forex Trade - 12/20/05

4:53 pm- 1 Trade Won

I'm back!! Yesterday was a crappy day and if you watched the markets you know that there were know trades. Today however was a different story. During our Learn N Trade session we were able to catch most of that move today in the EUR/USD. At 8:30, the US PPI report came out and the Euro broke out past the EU session low. However, I don't like to trade news candles so we waited 20-30 minutes after the news and entered at the close of the 8:50 candle which was 1931. We shorted 3 lots with a stop loss at 1950 and a target at 1917. Our target was hit at the 9:20 candle and we closed 2 lots and moved our last lot's stop to breakeven. The Euro continued to drop and each time a new low was made we trailed our stop to the high of those candles. We were eventually stopped out at the 11:10 candle. When it made a new low, we moved our stop to the high of that candle. The candle then shot up and stopped us out but then closed back down. We were stopped out at 1887. It's to bad too because the Euro made one last push right after. However, we were still able to get most of today's move and overall, it was a pretty good day. ~Big Pippin

Results: +28 +44 -9(spread)= +63 pips













8:00 am EST - Analysis


Good morning! Well, today in the US we have Producer Price Index(PPI) AT 8:30 AM EST. The PPI measures the inflation felt by manufacuters, and a rise in inflation could lead to a rise in interest rates. The consensus is 0.2% vs. the previous number -0.3%. We recommend to wait until about 9:00 am EST to trade the Alba just in case of whipsaws or large unexpected moves. Stay focused, good luck and good trading!! ~ PipCrawler

EU Session High: 1.1996
EU Session Low: 1.1955

1 comment:

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