Friday, November 04, 2005

Forex Trading- 11/04/05

8:00 am- Analysis

Good morning everyone! Sorry I couldn't post again yesterday, but what a day it was for the Alba system. Once again there was both an Alba breakout and an Alba signal trade that was good for about 90 pips. I hope you all were able to catch some of it. Today looks like it will be another big mover for the Euro because it only made a 24 pip range during the EU session. This means that there is about 87 pips of movement still left in it. At 8:30 am EST, the employment change report comes out for the US so it's most likely we'll see a breakout. I would be extra careful though because since the Euro is such in a narrow range, there's a possibility that the first breakout might be fake. Also, with the news, there might be a breakout in one way, but then 10 minutes later it could correct itself. So far this week there has been no losing trades for the Alba system. In fact, every day has been very good. If you have had a good, profitable week, you might just want to stay out. Take the day off and enjoy it. However, if you do trade, stick to the rules of the Alba system no matter what. If you lose, you just have to take it in stride. That's the risk we take when we trade :) Have a great day everyone!

Key Levels:

EU session high: 1952
EU session low: 1928
Calculated target 1: 2039
Calculated target 2: 1841

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