Tuesday, April 04, 2006

Forex Trade - 04/04/06

1:30 pm EST- 1 Trade Won

Although I didn't catch all the move, I was still able to grab some pips. You will see that the breakout occurred right at 8am but because of Trichet speaking at 8:30 I did not take the trade. I waited until I saw an Alba signal at 9:10 before entering. I entered long at 2243 with a stop at 2228 and a target at 2252. My target was hit at 9:40 and I closed 2 lots and moved my last lot's stop to breakeven. I was eventually stopped out at the low of the candle marked on the chart which was at 2261. It was another easy day for trading in general. Very good moves and I'm hoping we can have more days like this the rest of the week. Cheers! ~Big Pippin

Results: +18 +18 -9(spread)= +27 pips

8:00 am EST - Analysis

Good morning! No major economic news coming out today, but we do have ECB Pres. Trichet speaking at 9:30 am EST, US Fed speak starting at 12:00 pm EST. If there is any significant comments in their speaches, we probably won't see it factor into the market during our trading session. The EUR/USD made a session high of 1.2188 and is currently trading near that point, so watchout for a breakout and enter a trade if it fits the Alba rules. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2188
EU Session Low: 1.2119

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