Friday, April 28, 2006

Forex Trade - 04/28/06

3:15 pm EST- 1 Trade won

Today was a good way to end the trading week as we closed out with another win. At 10:50 am we had an Alba signal and I entered long at 2595 with a stop at 2573 and a target at 2606. My target was hit on the next candle and I closed 2 lots and moved my last lot's stop to breakeven. On the next candle I moved my stop to the current low when it made a move up and was later stopped out when the price reversed. I was stopped out at 2612. This is the last trading day for this month and it looked like we were going to have our first negative month, but this week pulled us out of the trenches and put us into the positive zone-----barely! I'll take it over a loss though. Have a great weekend everyone! ~Big Pippin

Results: +22 +17 -9(spread)= +30 pips

8:00 am EST - Analysis

Good Morning! We have a have a few key economic reports being released today starting with US quarterly GDP and GDP deflator at 8:30 am EST. GDP is the broadest measure of an economy's health and the deflator is the broadest measure of inflation. We can a lot of movement from these reports, so please be very cautious around this time period.

We also have Consumer Sentiment at 9:45 am EST and Chicago PMI at 10:00 am EST. Not considered market movers, but keep an eye out and be cautious.

Well, Alba's the last day of the month and I have a good feeling we'll end April strong! Good luck and good trading! ~Pipcrawler

EU Session High: 1.2567
EU Session Low: 1.2523

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