Friday, December 02, 2005

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

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