Wednesday, March 29, 2006

Forex Trade - 03/29/06

3:10 pm EST- 1 Trade Lost

For me, it was another loss. For Alba, it was a win. So technically, this doesn't count as 3 losing days in a row :) Actually, it's just me trying to justify my loss today, haha. At 11:30 am there was an Alba breakout and I entered 3 lots long at 2033 with a stop at 2015 and a target at 2048. By 12:30 my target still wasn't hit and it looked like the market was dead so I closed all 3 of my lots out at 2028. Had I waited until a little after 1:00 pm, my target would've eventually gotten hit. So not a good day for me, but it was a good day for Alba. Hopefully MY trading will be better tomorrow :) Cheers! ~Big Pippin

Results: -15 -9(spread)= -24 pips

8:00 am EST - Analysis

Good morning! We do not have any significant US economic reports out today except for the EIA Crude oil inventories at 10:30 am EST. It's a weekly report, so unless there's a significant surprise it usually does not have a huge market impact. At 8:45 am EST, New York Fed Pres. Geithner will speak at the New York Fed Conference, and at 9:00 am EST Treasury Under Sec. Adams will testify to the Senate on US economic relations with China. Again, unless there are significant statements from either I don't see them as market moving factors. Regarless, keep your eyes and ears open for an Alba breakout or signal. The market has a way of surprising us if we're not on our toes. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2022
EU Session Low: 1.1978

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