Forex Trade - 12/28/05

8:00 am - Analysis

Good Morning! Today we have US Consumer confidence coming out at 10:00 am EST. The consensus is 102.0 vs the previous of 98.9 which indicates US consumers are more confident about the state of the economy, which in turn may lead to more spending, and more spending means a stronger economy and currency. It's a nice litte cycle. So we'll see what happens at 10:00 am EST. Now, in this thinly traded enviroment we could see more volatile moves, so let's exercise caution around today's news report. Good luck and good trading! ~ PipCrawler

EU Session High: 1.1930
EU Session Low: 1.1872

Forex Trade - 12/27/05

8:00 am - Analysis

Good Morning! I hope everyone had a wonderful break! It's back to forex trading and let's see what we have today. Well, there are no reports coming out in the US today...I guess the rest of the US is still on vacation! hehe...no worries, that means those of us Alba traders hopefully don't have to worry about spikes or whipsaws. So, let's remember the rules of the Alba, to be patient and focused! Good luck and good trading! ~ PipCrawler



EU Session High: 1.1878
EU Session Low: 1.1836

Results for 12/19/05 - 12/22/05

Here are this weeks results:

Monday: No trades
Tuesday: +63
Wednesday: +30
Thursday: +34

Total: +127 pips

Not bad for a Christmas gift :) Have a great holidays everyone!

Forex Trading- 12/22/05

7:00 pm- 1 Trade Won

Hello everyone! On the final day of our Learn N Trade session we were able to bag another win. I had a feeling we would see an Alba breakout because the EU session range was very narrow. At 9:30 am EST there was a very clear Alba breakout and I entered 3 lots long at 1863 with a stop loss at 1845 and a target at 1875. Our target was hit at 10:00 and I closed 2 lots and moved my last lot's stop to breakeven. I trailed my stop to the low of each candle that made a new high and was eventually stopped out at 1882. It's been a great week for Alba and I will not be trading tomorrow since it is right before Christmas Eve. I will also be taking a break from trading all of next week because of the lull in between Christmas and New Years. Trades and charts will resume on January 2, 2006. I hope you all had a great week and I wish you all a Merry Christmas and a Happy New Year! ~Big Pippin

Results: +24 +19 -9(spread)= +34 pips

Forex Trade - 12/21/05

6:45 pm- 1 Trade Won

Another good day for Alba. Although there were no major news reports out today, we saw a nice move down in the Euro. It wasn't as sexy as yesterday's move but it was still attractive. There wasn't an Alba breakout until 9:30 am EST and we entered 3 lots short at 1818 with a s/l at 1852 and a target at 1801. Our target was hit at 10:20 and we closed 2 lots and moved our last lot's stop to the high of that candle which was 1813. Unfortunately we were stopped out on the next candle. Overall it was a very good day for Alba. Tomorrow will be our last trading day because I do not like trading right before Christmas Eve. Hope you all did well today. ~Big Pippin

Results: +34 +5 -9(spread)= +30 pips













8:00 am - Analysis

Good morning! Hope everyone was prepared for that big move in EURUSD yesterday and got a chance to catch some pips...Those of us in the Alba Learn'N Trade managed to snag 63 pips out of the market. Not bad!! Well, there isn't much as far as US economic news today, so we may see a quiet sideways market. At 8:30 am EST we have Gross Domestic Product q/q coming out with consensus matching previous at 4.3%. GDP is an important indicator of the health of the economy, but this is the quarterly reading so not as much weight is being put to it. Stay cautious during this time period, just in case! Well, keep an eye on the market and stay focused! Good luck and good trading! ~ PipCrawler



EU Session High: 1.1912
EU Session Low: 1.1857

Forex Trade - 12/20/05

4:53 pm- 1 Trade Won

I'm back!! Yesterday was a crappy day and if you watched the markets you know that there were know trades. Today however was a different story. During our Learn N Trade session we were able to catch most of that move today in the EUR/USD. At 8:30, the US PPI report came out and the Euro broke out past the EU session low. However, I don't like to trade news candles so we waited 20-30 minutes after the news and entered at the close of the 8:50 candle which was 1931. We shorted 3 lots with a stop loss at 1950 and a target at 1917. Our target was hit at the 9:20 candle and we closed 2 lots and moved our last lot's stop to breakeven. The Euro continued to drop and each time a new low was made we trailed our stop to the high of those candles. We were eventually stopped out at the 11:10 candle. When it made a new low, we moved our stop to the high of that candle. The candle then shot up and stopped us out but then closed back down. We were stopped out at 1887. It's to bad too because the Euro made one last push right after. However, we were still able to get most of today's move and overall, it was a pretty good day. ~Big Pippin

Results: +28 +44 -9(spread)= +63 pips













8:00 am EST - Analysis

Good morning! Well, today in the US we have Producer Price Index(PPI) AT 8:30 AM EST. The PPI measures the inflation felt by manufacuters, and a rise in inflation could lead to a rise in interest rates. The consensus is 0.2% vs. the previous number -0.3%. We recommend to wait until about 9:00 am EST to trade the Alba just in case of whipsaws or large unexpected moves. Stay focused, good luck and good trading!! ~ PipCrawler

EU Session High: 1.1996
EU Session Low: 1.1955

Forex Trade - 12/19/05

8:00 am - Analysis

Good morning!! It's another wonderful week in the Forex markets and we have our charting software back up!! Thank goodness, because I think Netdania is a great free charting software tool, it doesn't come close to the professional stuff! So, we should have regular updates on this blog and at www.babypips.com. Also, we are starting the Alba Learn'N Trades this week. If you're interested in joining us please click on the banner up top for more details!

Looks pretty thin in the US today with no majoy economic reports coming out today. The high of the EU Session is marked at 1.2030, and the low at 1.1980. As of this writing it looks like the EURUSD is trying to make a break of the lows. Keep an eye on this and stay focused. If it breaks it's good! Good luck and good trading!! ~ PipCrawler



EU Session High: 1.2030
EU Session Low: 1.1980

Forex Trading - 12/15/05

8:00 am - Analysis

Good morning!! Does anybody else have Xtick and still have problems? Arrrggghhh...anyways, what can you do? It's a good thing there's so many free charting software that we're not totally out of the game. I'm sure we'll get the whole Xtick issue resolved soon. Well, the potential market mover of the day is CPI which comes out at 8:30 am EST. The Consumer Price Index(CPI) is a measure of inflation experienced by consumers, and it is one of the monthly market movers. Consenses is inline with previous at 0.2%. If there is a surprise, be ready for a move. We recommend waiting until 30 min to an hour after news reports to trade to avoid whipsaws. The high of the EU session is about 1.2038 and the low at 1.1976. Look for breakouts at these approximate levels. Remember to always stay focused! Good luck and good trading! ~ PipCrawler

Forex Trade -12/13/05

8:00 am EST - Analysis

Good Morning! Well, it looks like our charting software is still not acting right! Does anybody know any good charting software?? It might be time to switch...hehe. Well, today at 8:30 am EST we have retail sales reports coming out with Advanced retail sales consense at 0.4% vs. previous -0.1%. Retail sales less autos is consenses is 0.0% vs. 0.9% previous. We may see some movement from these reports, but I think traders are going to wait until the FOMC meeting today at 2:15 pm EST. It is projected the Fed will raise from 4.00% to 4.25%, but the question of the day is "will there be more interest rate hikes?" We'll have to wait and see. Until then let's get focused on the what's going on in the market and remember to wait 30 min to 1 hour after news reports to trade to avoid any whipsaws. Good luck and good trading my friends! ~ PipCrawler

Forex Trading - 12/12/05

Results from last week:

Monday: +30
Tuesday: No Trades
Wednesday: No Trades
Thursday: +50
Friday: No Trades

Total: +80 pips


8:00 am- Analysis

Good morning! Hope everyone had a great weekend! I'm sure you did but it's time to get back and get focused on another wonderful week in Forex!! We have an abundance of dollar moving US economic reports this week, but ofcourse, the biggest story this week is, "are they going to announce more hikes at the Fed meeting?" We'll have to wait and see. Well, the eurusd made a strong move during the EU session, approximately 100 pips...so i would look for a possible pull back to the 1.1889 - 1.1864 range before it decides to make any moves higher. We have the Treasury Budget coming in at 2:00 pm EST. Consenses is -77.3B vs. previous -57.9B. Again we always say be cautious around news time because you never know how the market react. Always plan your trades and trade your plan. Good luck and good trading! ~ PipCrawler

Sorry, no chart this morning...our charting system is temporarily having issues. Hopefully, it will be back up by the evening analysis.

Forex Trading - 12/09/05

7:30 pm- No Trades

Due to the news reports that came out at 9:45 and 10:00, there were no Alba trades. Everyone knows I hate trading around news events so yes there was some discretion involved in today's breakout. During the Learn N Trade sessions you will learn how I trade especially around news reports. ~ Big Pippin

Results: +0 pips

8:00 am - Analysis

Good Morning!! Man, when are we gonna get a major breakout!? EURUSD has been trading in a range roughly between 1.1800 and 1.1700 for the last few sessions. Not that I don't mind because with the Alba we're able to catch moves in this choppy market like yesterday, but I wanna see this thing moving and shaking like Pip Diddy's mom at the club after a bottle of Hypnotic and some Hennessey!! Well, I guess we're gonna have to wait and see what the Fed is going to say in their meeting next week. For today, we have U. of Michigan Consumer sentiment at 9:45 am EST and Wholesale inventories at 10:00 am EST. I don't suspect these reports will generate too much movement, but like I always say, the market will do whatever it wants to, so always be prepared. Good Luck and good trading! ~ PipCrawler


EU Session High: 1.1816
EU Session Low: 1.1765

Forex Trading - 12/08/05

6:48 pm- 1 Trade Won

Finally we saw some action today. At 10:10 there was a good Alba breakout and I entered 3 lots long at 1805 with a stop loss at 1776 and a target at 1819. My target was hit on the next candle and I closed 2 lots and moved my last lot's stop to break even. A new high was made at 11:10 so I moved my s/l to the low of that candle. The next candle made another new high so I once again moved my stop to the low of that candle which was 1836. This is where I eventually got stopped out on my last lot. So after a couple days of no action, the market finally moved and Alba snagged us some pips. Hope you all did well today. ~Big Pippin

Results: +28 +31 -9(spread)= +50 pips













8:00 am - Analysis

Good Morning! Today we have the US weekly jobless data at 8:30 am EST. The consenses is 315K vs. the previous 320K. Also, today we have various speakers from the ECB, but I think traders are going to continue to wait until the FOMC meeting next week before we see the EURUSD trending again. Remember to always plan your trades, and stick to your plan. Remember to stick the rules of the Alba, even in the slow times. Good luck and good trading! ~ PipCrawler



EU Session High: 1.1786
EU Session Low: 1.1715

Forex Trading - 12/07/05

8:37 pm- No Trades

Sigh...it was another boring day in the market today. Like Pipcrawler said this morning, there wasn't much news so we've been anticipating this lack of movement. You can see that the Euro did make a nice move during the EU session but unfortunately that left us with no movement during the US session. I am thinking the rest of the week will be like this since everyone is probably waiting for the Fed meeting next Tuesday. Hope you all didn't get caught in this dead market. ~Big Pippin












9:00 am - Analysis

Good morning everyone! Sorry for the late post...due to the wintery weather here in the east I had temporary power outage here, but I'm back up ready to look for trades! Well, today there are no major news from either the EU or the US except at 3:00 pm EST for US Consumer Credit (OCT). EURUSD did make a move lower during the EU session due to the sell off in EURJPY. Without any major news this week expect range bound and choppy trading, but that's ok because with the Alba system we can make profits with small moves in any market. So lets stay focused and keep any eye out for any potential trades. Good luck and good trading.



EU Session High: 1.1767
EU Session Low: 1.1705

Forex Trading - 12/06/05

10:31 pm- No trades

Hello everyone. Today was a very boring day for the Euro. As you can see from the chart, the Euro pretty much bounced between the high and low and didn't really give us much action. There were no Alba breakouts or signals so I was able to catch up on some reading :) Hopefully we'll get some trades the rest of this week but I'm not expecting too much movement until next week when the Fed meets. However, I will be prepared for anything. That's the beauty of the Alba system. No matter what the longer term trend is, Alba can catch small intra-day waves so we can still grab some pips. Hopefully we can grab some during this slow week. ~Big Pippin

Results: +0 pips













8:00 am - Analysis

Good morning!! Looks like the EURUSD made a small 29 pip range during the EU session last night, so hopefully there's a good chance we may see a breakout trade today. In the US, we have Non-farm Productivity and Unit Labor Costs at 8:30 am EST. At 10:00 am EST the Pending Home Sales and Factory Orders reports are coming out. The Factory Orders is probably the strongest market mover out of the bunch, so keep an eye out for a move around 10:00 am EST. On a side note, if you watch the USDCAD or AUDUSD, their central banks are making rate decisions today. Canada will announce at approximately 9:00 am EST, and the consenses is that they will raise rates to 3.25% from 3.00%. The Aussies will announce their desicion about about 5:30 pm EST, and consenses will be no change. It would be a great lesson to watch and see how those decisions affect their currency, especially if there is a surprise. Well, that's it for now folks...remember the rules, good luck and good trading!! ~ PipCrawler


EU Session High: 1.1790
EU Session Low: 1.1761

Alba results for 11/21/05 - 11/23/05 and 11/28/05 - 12/02/05

Here are the results from the last couple of weeks:

11/21/05 - 11/23/05
Monday: +87
Tuesday: No Trades
Wednesday: -66

Total: +21 pips

11/28/05 - 12/02/05
Monday: +72
Tuesday: No Trades
Wednesday: No Trades
Thursday: No Trades
Friday: -123

Total: -51 pips

Forex Trading - 12/05/05

4:45 pm- 1 Trade Won

Hello everyone! After an ugly day on Friday, Alba gained us a few pips today and the trade was pretty straightforward. There was an Alba breakout at 11:40 am and I entered 3 lots long at 1784 with a stop at 1770 and a target at 1792. My target was hit at 12:10 and I closed 2 lots and moved my last lot's s/l to the low of that candle. I continued to trail my stop to the low of each candle that made a new high and was eventually stopped out at 1807. Not a huge gain today but I can't complain about a win :) Hope you all did well today. ~Big Pippin

Results: +16 +23 -9(spread)= +30 pips













8:00 am - Analysis

Good Morning!! It looks like EURUSD made a move to the upside during the EU session due to the November Retail numbers in the EU. Today we have ISM non-manufacturing at 10:00 am EST. The consensus numbers are lower than previous, so if they are inline or lower we may see a further push upward of the EURUSD. Good luck and good trading my friends. ~ PipCrawler


EU Session High: 1.1769
EU Session Low: 1.1688

Forex Trading - 12/02/05

Late Post

Hey everyone. Sorry for the delayed post. If you traded on Friday, then you know it was not a pretty day for Alba. Although she looked sexy, she teased us and left us with nothing but a big hole in our pockets...sheesh! There was an Alba breakout at 9:50 am and everything looked good so I entered 3 lots short at 1663 with a s/l at 1701 and a target at 1642. Unfortunately, the trade was stopped out at 10:30 and that was all she wrote. ~Big Pippin

Results: -114 -9(spread)= -123 pips












8:00 am - Analysis

Good Morning! Alright, kids it's that time of the month again...US non-farm payrolls report! Yeah, sure there's other reports coming out today, but there's no bigger market mover than non-farm payrolls. Recently, it hasn't had the same impact on the market as it usually does possibly due to the hurricanes we've had to weather here in the US, but economists are predicting this months report is going to be much higher and I think it'll have a big impact on the market today. Ofcourse we always recommend to take a break from trading on big news days, and it doesn't get any bigger for the dollar than US Non-Farm payrolls at 8:30 am EST. Personally, i'm going start my weekend early and go hit the slopes! If you do decide to trade today, please, please, please be very cautious, and wait an hour or so after the report to see if a trend materializes. Have a great day! ~ PipCrawler












EU Session High: 1.1721
EU Session Low: 1.1694

Forex Trading - 12/01/05

7:35 pm- No Trades

Once again, the plethora of news reports kept me away from the market again today. Although the Euro did make a nice move down, I didn't see any signals after all the news reports and therefore decided not to go short. I've received many emails asking me what my rules are when it comes to trading around news reports. The answer is that I don't trade 30 minutes before the report and usually wait 20-30 minutes after a report before entering trades. Another question people are asking is what news events I consider "major". I generally go by forex factory's news calendar. They color code each news report depending on the importance. I usually don't trade around reports that are orange or red. Hopefully this answers all your questions. See you all tomorrow! ~Big Pippin












8:00 am - Analysis

Good Morning! ECB came out with it's rate decision this morning at approximately 7:45 am EST, and as expected they raised the rate from 2.00% to 2.25%. If you don't know anything about anything in forex, know that raising and lowering interest rates has the most significant impact on a country's currency. Now the question of the day wasn't going to be if the ECB is going to raise the interest rate, that was almost guaranteed...the question of the day was, "is this a one time hike or is it going to be a series of hikes from the ECB?" As of this writing I haven't got the full news report, but by the market reaction it looks like a one time deal...for now. Later today, US ISM manufacturing index is expected to fall once again to 57.5 in Nov from previous reading of 59.1. Core personal consumption expenditure (PCE) index in Oct is expected to increase by 2%. If you want to learn more about ISM, click here. As always, we recommend discrection on news days or even staying out. Remember the rules, stay focused and disciplined, good luck, and good trading!! ~ PipCrawler











EU Session High: 1.1789
EU Session Low: 1.1741

Forex Trading - 11/30/05

7:36 pm- No Trades

Today was a pretty boring day for the Euro. There were a couple of times it looked like we might have an Alba trade, but conditions weren't completely met and therefore there were no trades. At 9 am it looked like we would have an Alba breakout but it didn't quite qualify. Then at 10:30 it looked like we would have a good Alba signal but look at where the 2nd candle closed. This was way too close to the EU session high which is why no trade was entered. I hope you were able to avoid any losses in today's ugly market. Hopefully tomorrow will be better. ~Big Pippin














8:00 am - Analysis

Good Morning! It's another day of plentiful US economic reports with GDP Annualized (3Q P), GDP Price Index (3Q P), and Personal Consumption (3Q P) at 8:30 am EST. Then Chichago PMI (NOV) at 10:00 am EST and Beige Book for Dec FOMC Meeting at 2:00 pm EST. For the most part the consensus numbers are inline with previous, which means we may not see much movement if the actual numbers are inline. If there are any surprises expect the dollar to move, so be focused and ready. During the EU session the EURUSD only ranged about 32 pips which leads me to believe there are many traders on the sidelines waithing for this mornings reports. Remember on news days to use discrection, and wait 30 min to hour for a trend to materialize. Remember the rules, Good luck, and Good Trading!!! ~ PipCrawler




EU Session High: 1.1800
EU Session Low: 1.1768

Forex Trading - 11/29/05

6:15 pm- No Trades

I know what you're thinking...no trades?! Yes there was an Alba breakout and you might've even traded it but for me, it was too close to the U.S. Durable Goods report. One of my rules is that I don't like to make trades around news reports because it is very risky. It just so happened that today's report worked out for the Alba system. I am still posting a chart with what I would've done had I taken the trade. If there was no news report at 8:30 it would've been another nice day for me. Even though today's trade worked out, I encourage you all not to trade around news report times as it is unpredictable and causes huge spikes. Anyways, hope you all did well today. ~Big Pippin












8:00 am - Analysis

Good morning! Today we have a slew of US economic reports coming out, and with the eurusd in a 28 pip range during the EU session, it looks like traders are waiting until this morning to jump back into the game. At 8:30 am EST we have Durable Goods Orders and Durable Ex Transportation, and at 10:00 am EST Consumer Confidence and New Home sales coming out. The consenses numbers are higher than previous, so look for the dollar to be stronger after the reports. Again, stay alert and always have a plan for a breakout in either direction. Good luck and good trading! ~PipCrawler


EU Session High: 1.1838
EU Session Low: 1.1810

Forex Trading - 11/28/05

7:45 pm- 1 Trade won

Well it was a good day for Alba again today. Not too bad for the first day back after the Thanksgiving holidays. Hope you all had a great break. Today there was an Alba breakout at 10:00 am and I entered 3 lots long at 1746 with a stop loss at 1720 and a target set at 1762. My target was hit at 10:20 and I closed 2 lots out and moved my last lot's stop to breakeven. From 10:30 to 11:20 I moved my last lot's stop to the low of each candle that made a new high and I was eventually stopped out at 1795 at 11:30. ~ Big Pippin

Results: +32 +49 -9(spread)= +72 pips












8:00 am - Analysis

Good morning everyone! I hope everyone had a great weekend! I know i did with some non-stop holiday eating all weekend long! But it's time to put that turkey leg down and get back to business! Not much in the way of US economic reports today except the Existing Home Sales Report. It's been know to move the market, so be ready when it comes out at 10:00 am EST. The consensus number is lower than the previous at 7.2 mil vs. 7.28 mil. As I write this the EURUSD is trading at the top of the EU session, so be ready for a breakout if it happens. I hope you got a chance to checkout Pip Diddy's Analysis this weekend. If not, you still have a chance to check it out at www.babypips.com in the Analysis section. Remember the rules of Alba, good luck, and good trading!!! ~ PipCrawler



EU Session High: 1.1717
EU Session Low: 1.1680

Forex Trading - 11/23/05

2:20 pm- 1 Trade Lost

After a series of winning trades, Alba has finally succumbed to a loss. What a crappy way to start the holidays :) There was an Alba signal at 9:10 am so I entered 3 lots long at 1813 with a s/l at 1794 and a target at 1824. I probably shouldn't have entered because of the consumer sentiment set to come out at 9:45 but I figured it would still have time to hit my target. Well I was completely wrong! At 9:40 my stop was hit and I lost on the trade. Crap! Oh well, you can't win them all :)

On another subject, me and Pipcrawler will be on vacation tomorrow and Friday for Thanksgiving. So there will be no posts during that time. I also urge you all to stay out of the markets during this time. Holidays can be tricky so I would strongly recommend that you take a couple days off and enjoy yourselves. You deserve it! Happy Thanksgiving everyone! ~ Big Pippin

Results: -57 -9(spread)= -66 pips












8:00 am - Analysis

Good morning everyone! Seems like the same trading pattern for the last few days with the eurusd...dollar bulls run the EU session, dollar bears take over during the US session. Let's see what happens today as Inital Claims comes out at 8:30 am EST and U. of Michigan Confidence at 9:45 am, so be alert during those times. Tomorrow is a US holiday so there won't be any morning posts for the rest of the week, but for all my international friends who will still be trading, remember to stay focused, use discretion when neccessary, and remember the Alba system because she's been so good to us right?? Good luck and good trading! ~ PipCrawler



EU Session High: 1.1843
EU Session Low: 1.1763

Forex Trading - 11/22/05

5:20 pm- No trades

Hello everyone! Unfortunately it was a quiet day for Alba today. It looks like there could've been a signal at 12:00 pm, but because it didn't significantly break the EU session high I didn't enter. Also it was past 12 pm so I didn't want to risk it. However, it's ashame the big move that happened at 2pm didn't happen earlier. If you watched the market, the Euro shot up about 80 pips! Oh well, at least we didn't lose any money today. Hopefully tomorrow will be better. ~Big Pippin

Results: +0 pips













8:00 am- Analysis

Good morning! The EU came out with mixed economic reports last night with in line numbers from Germany and lower than expected from France. During the EU session the EURUSD made a temporary dip below the psychological level of 1.1700. In the last few trading days we've seen the dollar bulls give up some of those gains during the EU session early in the US sessions. No significant US reports or news to watch out for the moment, but stay focused and remember the rules of the Alba system! It's been so good to us! Good luck and good trading!! ~ PipCrawler











EU Session High: 1.1736
EU Session Low: 1.1687

Forex Trading - 11/21/05

7:23 pm- 1 Trade won with discretion

There was a good Alba breakout at 10:40 am EST and I entered 3 lots short at 1753 with a s/l at 1833 and a target at 1713. If you notice, you'll see that there was an Alba signal at 10:10 but it closed right at the EU session low so I did not enter. Here is where the discretion came in. At 11:10, the price got within 5 pips of my target but did not hit. I still held my positions but the price just stayed around that area for the rest of the day. At 1:20 the price was around the low 1720's so with my discretion I decided to close all 3 lots at 1721 9because it was already late in the day. I'm sure many of you all did the same thing. This is why I say that the system is not 100% mechanical. At certain times you do have to use your common judgment. Anyways, it was a great day for Alba and I hope you all had a great day as well. ~Big Pippin

Results: +96 -9(spread)= +87 pips













8:00 am- Analysis

Good Morning! It's another wonderful week in the world of Forex, and if you got a chance to check out Pip Daddy's Analysis this weekend at Babypips.com, you will see it's a short one here in the US markets. Not many US economic reports coming out this week, but you never know what may happen(like the surprise annoucement by European Central Bank President Trichet on friday). If you missed the annoucement, basically Trichet hinted at possible interest rate hike in the euro zone. This caused the EURUSD to spike up, and could possibly be the turning point in the EURUSD. We'll have to wait and see. For now, let's see if Alba can muster up any good trades for us today. Remember to be patient and stick to the rules. Good luck and good trading! ~ PipCrawler












EU Session High: 1.1833
EU Session Low: 1.1765

Pip Daddy's Thoughts For The Upcoming Week

I’m not trying to be a party pooper, but this guy might describe the market this week.

How come?

Ummmm Yummy! It’s that time of the year again. Thanksgiving!

Most Americans will have turkey, family, and friends on their minds this week so expect overall market activity to be very low. Don’t think it’ll just be the U.S. session. Those Yankees also trade during Asian and European hours but not during Thanksgiving time. Take another look at that thing. Looks so juicy.

This is a dangerous time to be trading, when liquidity is low, remember this lady…it’s very spiky.

There will be lots of spikes and I wouldn’t be surprised if bored market makers out there who aren’t giving thanks will be on the prowl for stops.

Low liquidity = lots of spikes and lots of stop hunts.

So I’m faced with a dilemma…

Since it’s basically a holiday this upcoming week, should I even trade and write a chart analysis? Well like the Boy Scouts motto says, we have to be prepared for anything. I don’t expect the market to move BIG this week, but we may still be able to make some pips! Yeah baby yeah!

For the rest of Pip Daddy's free comprehensive chart analysis, check out http://www.babypips.com/forex-analysis/forex-chart-analysis.html

Hope you all had a great weekend!

Cheers,

-BigPippin

Forex Trading Results 11/14/05 - 11/18/05

Week Results: + 193 Pips

Monday: +58
Tuesday: No Trades
Wednesday: +12
Thursday: +26
Friday: +97

Forex Trading - 11/18/05

7:30 pm- 1 Trade Won

Good evening everyone. Even though there were no major news reports today, the ECB announced that they are planning to raise rates to slow inflation. So of course, the EUR/USD skyrocketed and made Alba scream. There was an Alba breakout at 9:00am EST and I entered 3 lots long at 1740 with a s/l at 1688 and a target at 1772. My target was hit at 9:30 and I closed 2 lots and moved my last lots stop to the low of that candle which was 1761. That is where my last lot eventually got stopped out. Yea it was a great day but wait.....theres more! Yes, there was another Alba breakout at 11:20am EST and I entered 3 lots long at 1737 with a s/l at 1710 and a target at 1754. My target was hit at 11:40 and I closed 2 lots and moved my last lot's stop to the low of that candle which was 1743. Unfortunately that is where my last lot was stopped out. So it was a great way to end the week and once again, Alba has treated us well :) ~Big Pippin

Results:
+64 +21 -9(spread)= +76 pips
+24 +6 -9(spread)= +21 pips
Total: +97 pips














8:00 am- Analysis

Good morning! During the EU session the dollar bulls took over again pushing the EURUSD from 1.1725 down to 1.1664. Is the downtrend resuming? We'll just have to wait and see. But for now, it's friday and there aren't any economic reports coming out in the US today, so I don't see any potential for strong movement. If you had a good week, which i'm sure you did with the help of Alba, today would be a great day to start the weekend early and get away from those charts! Sunday evening, don't forget to look out for Pip Daddy's Awesome Analysis at Babypips.com! Good luck, good trading, and have a great weekend!! ~ PipCrawler


EU Session High: 1.1725
EU Session Low: 1.1664

Forex Trading - 11/17/05

9:23 pm- 1 Trade Won

Oh yea, Alba was looking sexy today with her pips. Today's trade was fairly simple and straightforward. There was an Alba signal & an Alba breakout at 10am and I entered 3 lots long at 1714 with a stop at 1691 and a target at 1728. My target was hit at 10:50 and I closed 2 lots and moved my last lot's stop to the low of the candle that candle which was 1720. The next candle made a new high so I moved my stop to the low of that candle which was 1721. That is where my last lot got stopped out. All in all, Alba was good to us today! ~Big Pippin

Results: +28 +7 -9(spread)= +26 pips













8:00 am- Analysis

Good Morning! Since yesterday, it looks like the bulls and bears have been battling it out, and the EURUSD has been finding support around 1.1650 and resistance around 1.1700. When the market ranges a breakout usually occurs. We've been in a downtrend and you know what they say, "the trend is your friend," but remember when consolidation occurs after a strong move a correction may follow. So have a plan for a break in either direction. We have US economic reports coming out at 8:30 am EST. I don't see them as market movers, but like I always say, "the market is right and it'll do whatever it wants to do." Just remember to stick to the rules! Good luck and good trading! ~PipCrawler



EU Session High: 1.1702
EU Session Low: 1.1642

Forex Trading -11/16/05

4:20 pm- 1 Small trade won

Well, it was a slow day for Alba but we managed to bag a few pips. There was a good Alba breakout at 9:30 am and I entered 3 lots short at 1658 with a s/l at 1673 and a target at 1649. My target was hit on the next candle and I closed 2 lots and moved my last lot's stop to breakeven. Unfortunately the downtrend did not continue and I was stopped out on my last lot the very next candle at breakeven. So all in all it wasn't a huge day for Alba but I can't complain about a winning trade :) ~Big Pippin

Results: +18 +3 -9(spread)= +12 pips












8:00 am- Analysis

Hello everyone! It's another exciting day in the forex, and after checking out the movement of the dollar in the EU session it looks like traders are still buying up the greenback. Today we have the CPI coming out at 8:30 am EST and the TIC data at 9:00 am EST. These have been known to move the markets, and with the huge trade defict number from last week look for the TIC data to be pretty strong. So watchout for possible whipsaws or fakeouts! By the way, if you haven't checked out Pip Daddy's Chart Analysis page on BabyPips.com, then you're missing out on some good stuff that you'll never see anywhere else on the net! Remember the rules! Good luck and good trading! ~ PipCrawler


EU Session High: 1.1729
EU Session Low: 1.1674

Forex Trading - 11/15/05

8:00 pm- No trades

After the strong move during the EU session, we did not see any clear movements during the US session because of all the economic activity that came out today. If you have the Alba system you would clearly see that there were no trades today which is a good thing because the market was ugly and was unworthy of our beloved Alba! Hopefully tomorrow will be a better day :) ~Big Pippin

Results: +0 pips












8:00 am- Analysis

Good morning everyone! German GDP came out with strong numbers last night, but the dollar still gained ground on the euro last night showing that dollar bulls are still running strong! Today at 8:30 am watch out because the US is coming out with a few economic reports that will move the market. So, as usual wait at least 30 minutes to an hour to trade to let the market digest the information. If you wait, you'll avoid the whipsaws and a trend will usually form afterwards.

If you got a chance to check out Big Pippin's review from last night, today you'll see that we are going to make some changes to the Alba system. For now, it's just going to be a 10 min chart on the EURUSD, marking the high and low of the EU session, and the 5 and 8 wma...That's it! How easy is that? So, just keep an eye out for those crosses and candle filters, or a breakout. Remember to follow the rules! Good luck and good trading! ~ Pipcrawler

EU Session High: 1.1714
EU Session Low: 1.1644

Forex Trading- 11/14/05

7:00 pm- 1 Trade Won

Hello everyone! Hope you all had a great weekend. Unfortunately I wasn't able to post this morning because my subscription was expired and I had problems getting renewed. Luckily I was able to get it back up right before the trade happened. I've been working on updates for the Alba system so you might notice that the charts look a little different. It's not concrete yet, but I'm thinking of actually getting rid of all the indicators except the moving averages and strictly relying on price action and volatility of the EU session. Talk about a simple system! I am also getting rid of the morning calculated targets as I have found some flaws with them. Don't worry, they don't affect the actual entries of the Alba system, but since it has some errors, I'd rather just take it off for now until I come up with a better solution.

As for today, there was a classic Alba breakout at 8:20 am EST. I entered 3 lots short at 1692 with a stop loss at 1741 and a target at 1666. My target was hit at 11:40 and I closed 2 lots and moved my stop to the high of that candle which was 1677. Unfortunately there was no more downward movement and my last lot was stopped out at 12:30.

Results: +52 +15 -9(spread)= +58 pips












~Posted by Big Pippin

Forex Trading 11/10/05

10:00 pm- 1 Trade won

Thank goodness we had a winning trade today! It was a fairly straight forward Alba breakout. At 8:50 am, there was an Alba breakout and I entered 3 lots short at 1748 with a s/l at 1776 and a first target at 1729. The target was hit at 10:00 am and I closed 2 lots and moved my stop to the high of that candle. Unfortunately, that's where my last lot was stopped out. It's too bad to because the Euro made a nice drop at around 3:00 pm. Sorry, that's my greed speaking...Control yourself! :) Anyways, it was a good day and I can't complain about a winning trade! Update for tomorrow: There will be no trading for me tomorrow since it is a US holiday and I'm not expecting much movement. I would recommend that you not trade tomorrow either, especially the US session. So with that said, there will be no posts tomorrow. However, I may post a nice joke or something :) Hope you all did well!

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












8:00 am- Analysis

Good Morning Everyone! Strong U.S. economic reports coming out today at 8:30 am EST. I highly recommend that you wait at least 30 min to an hour to let the markets digest the information before you trade. The euro made a small range of 28 pips last night, so definitely look for movement today during the US session. Good luck and good trading! ~ PipCrawler













EU Session High: 1.1789
EUSession Low: 1.1759
Calculated Target 1: 1.1842
Calculated Target 2: 1.1676

Forex Trading - 11/09/05

6:30 pm- 1 Trade lost

Argghh! That's my pirate cry. Today was not a good day for Alba, although there was a good signal given. The first Alba signal was given at 8:50 but as you can see it did not close 10 pips above the EU session high. When this happens, you should wait a little bit until there is a clear direction. You don't always have to have a breakout with the alba signal, but in this case, the price barely closed above the high (only about 4 pips above the high). Therefore I did not enter that trade. If you look again, there was another good Alba signal at 10:20 and this was also an Alba breakout. This was the perfect criteria to enter so I entered 3 lots short at 1717. Unfortunately, this was not a winning trade and I ended up losing 72 pips on 3 lots. So yea, it was not a good day today, but that's why we practice good money management :) Let's hope for a better day tomorrow.












8:00 am Analysis

Good morning! The euro edged slightly lower against the dollar last night during the EU session, so we may see the EURUSD continue to trend lower today. The US has a few economic reports coming out today starting around 9:00 am EST. These reports are not major movers, but hopefully they will move the dollar enough so that we may see an alba signal, or more likely an alba breakout. With a 49 pip range last night, we calculated that the EURUSD has about 67 pips to move in this session. Remember, to follow the rules of the system!! Good luck and good trading!! ~ PipCrawler













EU Session High: 1.1778
EU Session Low: 1.1729
Calculated Target 1: 1.1796
Calculated Target 2: 1.1662