Tuesday, November 15, 2005

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

No comments:

Subscribe to this blog