Tuesday, February 14, 2006

Forex Trade - 02/14/06

4:48 pm EST- 1 Trade Lost

In typical Valentine's day fashion, my heart was broken. Alba teased us with a trade by giving us pips....AFTER we closed out our lots. At 8:30, Retail sales came out and an Alba breakout was formed, but because we don't trade news candles, we didn't enter. At 11:30, there was an Alba signal and I entered 3 lots long at 1906 with a stop at 1886 and a target at 1917. I held onto my trade longer than normal because if you notice the charts, the price seemed to find support at the EU low. By 2 pm I had gotten to just about breakeven so I decided to go ahead and close out my orders at 1902. Then Alba decided to tease us by hitting our target after we got out at 3 pm. What a heartbreaker! Hope your Valentines day had more love then Alba, haha. ~Big Pippin

Results: -12 -9(spread) = -21 pips

8:00 am EST - Analysis

Good morning! We have Retail Sales and Business Inventories coming out today at 8:30 am EST today. The Retail Sales report is the one to watch. A rise in retail sales indicates a rise in consumer spending which is good for a country's currency. The forcast number is 0.9%. Let's see if there's a surprise. Good luck and good trading! ~Pipcrawler

EU Session High: 1.1919
EU Session Low: 1.1891

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