Tuesday, November 08, 2005

Forex Trading- 11/08/05

6:45 pm- 1 Trade won

Today was an easy trade although it wasn't a big winner. There was an Alba breakout at 9:40 am EST and I entered 3 lots long at 1757 with a s/l at 1742 and a first target at 1765. The very next candle my target was hit and I closed 2 lots and moved my stop to breakeven. Unfortunately the very next candle stopped me out and the price continued to rise for about another 20 pips. Oh well, a win is a win no matter how small or big it is. Hopefully we'll see more movement later on this week. Hope you all did well. ~BigPippin

Results: +16 +3 -9(spread)= +10 pips

8:00 am- Analysis

Good morning everyone! Hopefully we'll see better movement than we saw yesterday. The Euro made about a 37 pip range during the EU session. With that range, I'm expecting about 75 pips of movement left for the US session. However, there are no major news reports coming out today so we might see another flat day. Just be prepared for anything, but be patient and make sure you wait for a good Alba signal or breakout. Remember, follow the rules of the system. Good luck and happy trading everyone! ~BigPippin

Key Levels:

EU Session High: 1746
EU Session Low: 1709
Calculated Target 1: 1821
Calculated Target 2: 1671

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