Tuesday, May 30, 2006

Forex Trade - 05.30.06

2:20 pm EST- No trades

We saw an Alba breakout at 10:00 am EST but we did not enter because it was the Consumer confidence report candle. We realized that it's not normally highly volatile event but because there was such a big drop it caused the market to move. After the news candle passed, I did not see any other suitable entries and ended up staying out of the market for the rest of the day. Today was another good example of why I avoid trading during news events. I hope you all did ok today. Cheers! ~Big Pippin

Results: +0 pips

8:00 am EST - Analysis

Good morning Alba traders! Hope everyone enjoyed nice holiday weekend! We have a short trading week with a lot of economic data coming out. Today at 10:00 am EST, we have the Consumer Confidence report for May coming out with a consensus number of about 100.0 vs. the previous number of 109.6. It's not ranked very high on volatility, but be sure to hold off from trading during that time period in case of unexpected volatility. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2882
EU Session Low: 1.2813

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