Tuesday, March 21, 2006

Forex Trade - 03/21/06

3:46 pm EST- 1 Trade Won

Well today was another good day for the Alba system. With the juice provided by the PPI at 8:30 we saw some good movement. At 9:40 am there was an Alba signal/breakout and I entered 3 lots long. I was suppose to enter at 2107 but got in a little late and actually got in at 2114. My stop was at 2123 and my target was set at 2097. My target was hit at 10:10 am and I closed 2 lots out and moved my stop to breakeven. I trailed my last lot's stop and was eventually stopped out at the high of the candle marked on the chart which was at 2097 (how ironic, haha). Overall, it was a pretty good day for Alba and hopefully the rest of the week will follow suit. Cheers! ~Big Pippin

Results: +34 +17 -9(spread)= +42 pips

8:00 am EST - Analysis

Good morning! We have the US Producer Price Index m/m coming out at 8:30 am EST. I've taken a look at a few different website and there seems to be varying opinions on the consensus. Forex Factory has their consensus number at 0.3%, so watch out for any surprises around that number. The eurusd made a small range of 34 pips last night which means that many traders are waiting for this report. So, if there is a surprise watch for a breakout and hopefully a trend will form. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2153
EU Session Low: 1.2119

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