Friday, March 03, 2006

Forex Trade - 03/03/06

4:03 pm EST- 1 Trade won

Although it wasn't a spectacular win, it was still a fine way to close out the week. At 9am there was an Alba signal/breakout. Just by glancing at it I thought there was a big enough potential reward to enter but in hindsight it actually wasn't. Our pip profit was only 4 pips per lot after the spread and I normally don't take trades that don't give me at least 5. Like I said, at the time it looked like it was a big enough trade and I entered it. I entered 3 lots long at 2043 with a stop at 2028 and a target at 2050. My target was hit at 9:30 and I closed 2 lots and moved my last lot's stop to breakeven. Later in that candle, the price shot down and stopped out my last lot. So it was a very small win but who am I to complain about a win? :) Have a great weekend everyone. ~Big Pippin

Results: +14 +3 -9(spread)= +8 pips

8:00 am EST - Analysis

Good morning! Let's see what we have lined up 10:00 am EST we have Consumer Sentiment and ISM Non-manufacuring index. Not considered to be potentially volatile, but it something to look out for. Well, it's Friday and hopefully we can end the week with another Alba winner. It's another small range for the EURUSD, so let's look out for another breakout today. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2027
EU Session Low: 1.2006

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