Wednesday, April 26, 2006

Forex Trade - 04/26/06

3:36 pm EST- 1 small trade won

Ok so we made a tiny dent at getting back some of our pips from the losses we've taken this month. At 9:10 there was an Alba breakout and I entered 3 lots long at 2437 with a stop at 2421 and a target at 2445. My target was hit on the next candle and I closed 2 lots and moved my last lot's stop to breakeven where I was stopped out a couple minutes later. So it was a very small trade, but I'll take any kind of win at this moment :) Cheers! ~Big Pippin

Results: +16 +3 -9(spread)= +10 pips

8:00 am EST - Analysis

Good morning! We have a few US reports coming out during our session today starting with Durable Goods orders at 8:30 am EST. This is the count of purchase orders from domestic manufacturers for hard goods. The consensus number is at about 1.7% vs. the previous number of 2.7%. We also have New home sales at 10:00 am EST and weekly crude oil inventories at 10:30 am EST. They both have low ratings at Forex Factory as far as potential volatility, but I would keep an eye on them as housing and oil data have been market moving in the past few months. Okay Alba traders, we've seen some strong, market moving numbers out of the US lately. Is the dollar going to strengthen or are these opportunities to sell the greenback? Who knows...just stay focused and stick to the rules of the Alba system and you'll be alright! Good luck and good trading!

EU Session High: 1.2427
EU Session Low: 1.2392

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