Wednesday, May 03, 2006

Forex Trade - 05/03/06

2:15 pm EST- 1 Trade lost

Unfortunately today was not a good day for Miss Alba. At 10:00 am EST there was an Alba breakout but since it was a news candle (Factory orders, ISM non-manufacturing) I did not enter. Those of you who follow my posts know that I don't like trading news candles. I waited a while and there was another Alba breakout at 10:30 so I entered short at 2597 with a stop at 2615 and a target at 2587. I was eventually stopped out on all 3 lots at 11:00 am EST. Hopefully tomorrow and Friday will be better so we can finish the week strong and start the month off to a good note. Cheers! ~Big Pippin

Results: -54 -9(spread)= -63 pips













8:00 am EST - Analysis

Good morning! We have a few US economic reports out today to watch out for. At 10:00 am EST, we have the monthly Factory Orders report due with a consensus number of about 4.0% vs. the previous of 0.2%. We also will be seeing the ISM non-manufacturing index at 10:00 am EST, and the weekly EIA crude oil inventories at 10:30 am EST. We also have Big Ben Bernanke speaking at 12:00 pm EST. His speech will be out of our trading time frame, but it would be a good idea to pay attention to what he says. Be cautious at these times Alba traders. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2669
EU Session Low: 1.2617

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