Thursday, April 27, 2006

Forex Trade - 04/27/06

3:00 pm EST- 2 Trades won

Finally, we were able to regain some ground after our string of losses we've had the past few weeks. Today we had 2 winning Alba trades. The first came with an Alba signal at 9:00 am EST and I entered 3 lots long at 2430 with a stop at 2427 and a target at 2438. My target was hit at 9:20 and I closed 2 lots and moved my last lot's stop to breakeven. I was promptly stopped out on my last lot at breakeven. After Triple B spoke at 10:00 am there was a nice Alba signal/breakout at 10:10 and I entered 3 lots long at 2492 with a stop at 2429 and a target at 2524. My target was hit at 10:30 am and I closed 2 lots and moved my last lot's stop to breakeven. I trailed my last lot's stop to the low of the candle marked on the chart which is where I was eventually stopped out at 2513. Overall it was a great day and I'm glad we were able to get back some of our losses. Hope you all did well! ~Big Pippin

1st trade: +16 +3 -9(spread)= +10 pips
2nd trade: +64 +21 -9(spread)= +76 pips
Total: +86 pips

8:00 am EST - Analysis

Good Morning! We have weekly jobless claims coming out at 8:30 am EST with consensus number at about 305K vs. the previous number of 303K. Not really considered a market mover, but keep an eye on it for any surprises. We also have Big Ben Bernanke speaking today at 10:00 am EST on the US economy. Traders will be on the lookout for any dovish or hawkish comments. It may be the catalyst for a strong, short-term move in the dollar, so definitely stay alert during this event. Okay Alba traders, stay on your toes, good luck and good trading! ~Pipcrawler

EU Session High: 1.2457
EU Session Low: 1.2405

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