Tuesday, January 24, 2006

Forex Trade - 01/24/06

6:24 pm EST- 1 Trade Lost

Mark this day on your calendars. This has been the first time the Alba system has lost 2 days in a row! It's a sad tragedy and I will be mourning the loss for a long time, haha. Ok seriously, I don't like losing and today was another loser. Fortunately it was just another small one. There was an Alba signal at 10:30 and I entered 3 lots long at 2281 with a stop at 2274 and a target at 2290. I was stopped out the very next candle on all 3 lots at 2274. Bummer. I kind of had a feeling this would happen especially with the lack of economic reports today, but hopefully the rest of the week will be better. ~Big Pippin

Results: -21 -9(spread)= -30 pips

8:00 am EST - Analysis

Good Morning! Let's see what we have lined up for today......absolutely nothing! It look like it's going to be a snoozer as far as economic reports. Good news is there aren't any time frames where we have to be cautious, so if you see a vaild Alba signal or Alba breakout take the trade! Just in case you like to look at other pairs be on the look out for a big move in USDCAD today. At 9:00 am EST, the BOC is coming out with an interest rate decision. Consensus is that they will lower to 3.0%. So watch out for volatility after that time and see if a trend forms. Whatever pair you decide to trade today remember to stay focused, good luck and good trading! ~PipCrawler

P.S. - Check out my new chart of the day at http://www.babypips.com/forex-analysis/pick-of-the-day.html!

EU Session High: 1.2295
EU Session Low: 1.2260

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