Friday, February 17, 2006

Forex Trade- 2/17/06

4:02 pm EST- 1 Trade Won

We were able to close the week with a positive note. Although the PPI was higher than expected the consumer sentiment was weaker and caused a slip in the dollar. This meant that the Euro gained some grounds against the USD today. At 10:00 am there was an Alba breakout and we entered 3 lots long at 1902 with a stop at 1888 and a target at 1912. Our target was hit on the next candle and we closed 2 lots and moved our last lot's stop to breakeven. We moved our stop on the next candle to 1922 but we were stopped out when the price made a slight retracement to 1920 before moving back up. Although we didn't grab the extra pips, we were still able to end the week on a good note. Have a great weekend everyone!

Results: +20 +20 -9(spread)= +31 pips

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