Thursday, March 16, 2006

Forex Trade - 03/16/06

4:30 pm EST- 1 Trade won

Hello everyone! Today was a good day for Alba as we were able to snag some pips. Although we missed getting a lot more because our last lot was stopped out by 1 pip before shooting up some more later in the day. The CPI was at 8:30 and Trichet spoke at 9:00 so I didn't look for any trades until about 9:20. At 9:50 there was an Alba signal and I entered 3 lots long at 2135 with a stop at 2128 and a target at 2147. My target was hit on the next candle and I closed 2 lots and moved my last lot's stop to breakeven. Unfortunately my last lot was stopped out and I was unable to get that next surge up at around noon. Hope you all did better than me :) Cheers! ~ Big Pippin

Results: +24 +3 -9(spread)= +18 pips

8:00 am EST - Analysis

Good Morning! So far, it's been a pretty exciting week for all of you Alba traders and today shouldn't be any different. At 8:30 am EST we have a ton of US economic reports, but the one to watch for is CPI excl Food & Energy m/m. The consensus is 0.2%, so watch out for a surprise in that number. We have ECB President Trichet and Fed Gov Kohn both speaking in Frankfurt, Germany at 9:00 am and 10:10 am EST respectively. Any surprise comments should factor in the market about an hour or two after made, so we probably won't see the effect of their comments within the time frame of our session. Also, the Philadelphia Fed Index is coming out at 12:00 pm EST. Historically not a market mover, but keep an eye out for it if we are still in a trade at that point. Remember to stay focused...Good luck and good trading! ~Pipcrawler

EU Session High:1.2087
EU Session Low: 1.2035

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