Thursday, December 08, 2005

Forex Trading - 12/08/05

6:48 pm- 1 Trade Won

Finally we saw some action today. At 10:10 there was a good Alba breakout and I entered 3 lots long at 1805 with a stop loss at 1776 and a target at 1819. My target was hit on the next candle and I closed 2 lots and moved my last lot's stop to break even. A new high was made at 11:10 so I moved my s/l to the low of that candle. The next candle made another new high so I once again moved my stop to the low of that candle which was 1836. This is where I eventually got stopped out on my last lot. So after a couple days of no action, the market finally moved and Alba snagged us some pips. Hope you all did well today. ~Big Pippin

Results: +28 +31 -9(spread)= +50 pips

8:00 am - Analysis

Good Morning! Today we have the US weekly jobless data at 8:30 am EST. The consenses is 315K vs. the previous 320K. Also, today we have various speakers from the ECB, but I think traders are going to continue to wait until the FOMC meeting next week before we see the EURUSD trending again. Remember to always plan your trades, and stick to your plan. Remember to stick the rules of the Alba, even in the slow times. Good luck and good trading! ~ PipCrawler

EU Session High: 1.1786
EU Session Low: 1.1715

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