Friday, February 24, 2006

Forex Trade - 02/24/06

2:52 pm EST- 1 Trade Lost

What a drag! We waited all week for a trade and when we finally saw a good opportunity it didn't go our way. Sigh...the life of a trader :) At about 10:50 we saw a good Alba breakout and we entered 3 lots short at 1866 with a stop at 1880 and a target at 1858. Unfortunately we were stopped out on all 3 lots at 11:40. It was a tough week and was a symbolic conclusion to this awful trading month. Hope you all were able to do better than me. ~Big Pippin

Results: -42 -9(spread)= -51 pips

8:00 am EST - Analysis

Good morning! Well, it's been a pretty slow week for all of you Alba traders, so hopefully we'll have a chance to end it strong today. We have US Durable Goods Orders at 8:30 am EST today. It is the meaure of the monthly increase in new purchase orders of hard goods from manufacturers. It tends to be an erratic number from month to month, so it does provide a higher chance of volatility in the market. I would be cautious around this time and after that it's pretty much open trading until the end of our session. It's Friday, so we always recommend not to hold positions over the weekend. This is especially true today with Bernanke speaking at 5:30 pm EST. Good luck, good trading, and have a great weekend! ~ Pipcrawler

EU Session High: 1.1927
EU Session Low: 1.1882

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