Thursday, November 17, 2005

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

No comments:

Subscribe to this blog