Technical Analysis

Well it was another boring day in the market. I watched as the Euro hovered around the EU high teasing us of a breakout. At 12:00 pm EST there was an Alba breakout but because it was outside of my trading time. It’s unfortunate because that trade would’ve won. Had it been a candle earlier, …

3:00 pm EST- 1 Trade Lost Days like today make losing hurt the most. Usually I can accept a loss with no problem because it’s just a normal part of being a trader. However, today was one of those days where you know you were right in your trade, but the market moved just enough …

2:10 pm EST- 1 Trade Won Unlike our normal, mundane Mondays, we actually had a winning trade today. Although there were no major economic reports out today, the market moved just enough for us to grab some pips. At 8:50 am EST, there was an Alba breakout and I entered 3 lots short at 2567 …

Well it was a pretty boring week as far as # of trades goes, but considering the choppiness of the market this past week, I think it was for the better that we stayed out of a lot of trades. We did end up with a small loss this week, but I looked back at …

3:35 pm EST- No trades Once again the market showed alot of indecision today during the US session. After the jobless claims at 8:30, the Euro spiked down only to reverse back up and spike above the EU high after the TIC data report. Luckily there were no Alba breakouts or signals which once again …

4:35 pm EST- 1 Trade Lost Unfortunately, things did not go our way today. Although the market showed good volatility, it still displayed big indecision. We almost had a short breakout after the CPI report but luckily all of our criteria was not met which kept us out of the trade. The Euro then reversed …

3:15 pm EST- No trades Well even with the news reports today we still saw some indecision in the EUR/USD during our session today. We had a pretty good Alba signal at 9:40 am EST but the price closed right at the EU high which is why we didn’t enter. Other than that close trade …

2:00 pm EST- No trades In typical Monday fashion, the market moved very little today. From the chart, you can see that the price stayed within the EU session’s range. So no trades for today but I’m sure things will pick up during the rest of this week. Cheers! ~Big Pippin Results: +0 pips

This week’s results for the Alba system…

1:50 pm EST- No trades Well the Trade Balance and Import Prices caused a nice drop in the Euro but because it was a news candle, I did not trade it. After the news releases, the Euro moved back up within the EU session range and pretty much stayed there the rest of the day. …

4:00 pm EST- 1 Trade Won Well after the Unemployment claims we saw a nice move in the EUR/USD. I did not trade the actual news candle because I don’t like trading the news but I did see a good Alba breakout at 9:20 am EST and I entered 3 lots short at 2660 with …

6:00 pm EST- No Trades I thought that Al might make the market move today after his testimony but it turns out his magic is gone. We had a close breakout at 9:40 am EST but it didn’t quite meet our criteria. The market then moved back within the EU range and stayed there the …

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 …

4:05 pm EST- No trades Like a typical Monday, there were no trades today. We did have the ISM Non Manufacturing report today but it didn’t cause any movement in the EUR/USD. We had a slight break of the EU low but it wasn’t enough to constitute a trade. Hopefully the rest of the week …

Well what a funny week it was. We didn’t have any really bad trades and we didn’t have any good trades. At the end of the week we ended up exactly where we started…..at breakeven! It’s kind of funny but I sure would like to make some pips next week 🙂 Monday: Memorial Day- No …

4:20 pm EST- 1 Small trade won Once again we had another day where we able to get out of trade that didn’t hit our target. After the NFP report we had a strong move upwards in the Euro which made a nice breakout of the EU session range. However because it was a news …

2:35 pm EST- 1 Very Small trade won After the low ISM numbers, the EUR shot up and at 10:50 we had an Alba breakout. I entered 3 lots long at 2817 with a stop at 2764 and a target at 2844. Unfortunately my target was not hit and by 12 noon I had a …

4:30 pm EST- 1 Trade Lost Well unfortunately we took a small loss as the PMI report didn’t give the EUR/USD enough juice to give us a good trade. At 11:10 am EST there was an Alba breakout and I entered 3 lots short at 2824 with a stop at 2845 and my target at …

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, …

There is no trading today for me as it is a US holiday. I encourage all of you, especially the American traders, to take a break from trading today as today is a very special holiday. Let us remember those who gave their lives for our country so that we could have the life of …