Monday, May 15, 2006

Forex Trade - 05/15/06

2:10 pm EST- 1 Trade Lost

Well it was a case of the Monday blues for the Alba system today. At 10:40 am EST there was an Alba signal and I entered 3 lots long at 2840 with a stop at 2828 and a target at 2851. Unfortunately the market took us out of our misery quickly and stopped us out on the very next candle. A bad start to the week but as always I try to stay optimistic for the rest of the week :) Cheers! ~Big Pippin

Results: -36 -9(spread)= -45 pips

8:00 am EST - Analysis

Good morning! We have a pair of potentially volatile US economic reports coming out this morning. First, at 8:30 am EST, we have the Empire Manufacturing Index, which is a sentiment indicator from the manufactoring sector. The consensus number is 17.0 vs. the previous number of 15.8. Next, we have the TIC report at 9:00 am EST. This is the measure of foreign demand for US debt and assets. This report is known to move the market, so we would wait 20 to 30 minutes after the report is released to trade. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2933
EU Session Low: 1.2800

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