Tuesday, June 06, 2006

Forex Trade - 06.06.06

3:10 pm EST- 1 Trade won

Although there were no economic reports today, we did get a nice Alba breakout. At 8:10 am EST there was an Alba breakout and I entered 3 lots short at 2843 with a stop at 2864 and a target at 2830. My target was hit at 8:50 and I closed 2 lots and moved my last lot's stop to the high of that candle. I was stopped out on my last lot on the next candle at 2839. It wasn't a big win, but considering there wasn't any news today, I was pretty happy with today's win. Cheers! ~Big Pippin

Result: +26 +4 -9(spread)= +21 pips

8:00 am EST - Analysis

Good Morning! No major economic reports coming out today during our trading session. EUR/USD is currently trading near the euro session low, and usually on days without news reports we don't see enough volatility for a breakout or Alba signal, but you never know. Just stay focused, and keep an eye out because you always have to be ready for the market gives you. Especially now, after Bernanke's hawkish comments, the market will be on the lookout for any comments from the Fed or from the ECB on the upcoming rate decisions. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2935
EU Session Low: 1.2858

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