Friday, April 07, 2006

Forex Trade - 04/07/06

3:35 pm EST- 1 Trade won

Well it's been a great week for Alba and today was no exception. At 9:50 am EST we saw an Alba breakout and I entered 3 lots short at 2154 with a stop at 2192 and a target at 2133. My target was hit on the next candle and I closed 2 lots and moved my last lot's stop to breakeven. I trailed my last lot's stop and was eventually stopped out at the high of the candle marked on the chart which was at 2123. Today was a great way to end a fantastic trading week. I wish every week were like this :) Cheers! ~Big Pippin

Results: +42 +31 -9(spread)= +64 pips

8:00 am EST - Analysis

Good Morning! Well, it's here again! It's the Non Farm Payroll Report Day!! It's the monthly report of new jobs created and it is one of the most important indicators of an economy's health. The NFP report is one of the biggest market mover of them all, and as you can see by the small range on the chart, traders have been waiting for it to be released.It will be release at 8:30 am EST and the consensus number is 190K. A number below 120K would seriously weaken the US dollar.
Now if you're up in pips for the week we highly suggest that you take off and start your weekend early. If you are going to trade it please wait at least 20 to 30 minutes after the report is released to enter a trade to avoid being whipsawed. If you are going to trade the Alba, please be patient and stick to the rules! Good luck and good trading! ~Pipcrawler

EU Session High: 1.2207
EU Session Low: 1.2165

1 comment:

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