Friday, January 13, 2006

Forex Trade - 01/13/06

6:05 pm- 1 Trade Won

Just when I thought there wasn't going to be a trade today, the market decided to move at the last minute. At 10:40, there was an Alba signal but because it closed right at the EU high, we did not enter. However at 11:30, there was a good Alba breakout and we entered 3 lots long at 2100 with a stop loss at 2066 and a target at 2119. I was getting kind of worried because the trade was so late in the day that I wasn't sure if there would be any juice left in the Euro to hit our target. Fortunately at 12:30 our target was hit. Instead of trailing my last lot's stop I decided to close it because it was so late in the day. I ended up closing my last lot at 2130. Overall it was great ending to a fantastic week. I will not be trading on Monday because of the holiday. I think I deserve a good long weekend to relax and enjoy life :) Have a great weekend everyone! ~Big Pippin

Results: +38 +30 -9(spread)= +59 pips













8:00 am EST - Analysis

Good Morning! Watch out now, its FRIDAY 13TH!! hehe ... It's a good thing we're hardcore traders and don't believe in superstition right?! =) Well, Alba traders it looks like it'll be another action packed day in the forex markets with PPI coming out in the US at 8:30 am EST. Now PPI is the meausre of inflation experienced by manufacturers, but the report to watch is PPI excluding Food and Energy. Consensus is 0.2% vs. 0.1% previous. Let's see if there is a surprise...as always remember the rules and lets be patient and wait to see if there's any whipsaws or extreme volatility. With a 45 pip range in the EURUSD during the EU session I have a feeling a lot of traders are waiting for this report. Stay focused, good luck and good trading! ~PipCrawler











EU Session High: 1.2084
EU Session Low: 1.2039

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