Friday, February 03, 2006

Forex Trade - 02/03/06

4:25 pm EST- 1 Trade Won

Today was a pretty good movement day. After the NFP and unemployment reports, we saw a nice move from the Euro. We did not trade the news candle but we did get in on a breakout at 8:50. I entered 3 lots short at 2008 with a stop at 2032 and a target at 1990. Our target was hit on the next candle and I closed 2 lots out and moved my stop to breakeven. I trailed my stop and was stopped out at the high of the next candle which was 1995. Overall it was a good day for the Alba system. Have a great weekend everyone. ~Big Pippin

Results: +36 +13 -9(spread)= +40 pips

8:00 am EST - Analysis

Good Morning! It's the first friday of the month, and you know what that means.... US Non-Farm Payroll report! Yes, the mother of all market moving US economic reports is out again at 8:30 am EST. For those of you who don't know what this report is, it is the monthly report of new jobs created, and it is one the leading indicators of an economy's health. We also have Consumer Sentiment at 9:45 am EST, and Factory Orders at 10:00 am EST. So, for all you Alba traders please be patient. We may have to wait until the end of our trading session to find a low risk trade. Stay focused, good luck and good trading! ~Pipcrawler

EU Session High: 1.2089
EU Session Low: 1.2055

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