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Main Trend

Current Trend= The trend remained down the entire day.

On Friday, I only looked for short trades.

Today's Surf

3:00am EDT- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 2.0426 with a stop at the most recent swing high at 2.0479. Since I was 26 pips away from the nearest 50 or 00 level, I put my initial target at 2.0400.

Entry: Short at 2.0426
Stop: 2.0479
Initial Target: 2.0400

5:00am EDT- My target was hit. Price did not make a clean break so I took my final profit. I managed to exit at 2.0402.

10:30am EDT- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 2.0440 with a stop at the most recent swing high at 2.0497. Since I was 40 pips away from the nearest 50 or 00 level, I put my initial target at 2.0400.

Entry: Short at 2.0440
Stop: 2.0497
Initial Target: 2.0400

12:15am EDT- Unfortunately I was stopped out of my trade.

Trade Result: +24 -57= -33 pips; R-Multiple: 0.49, -1.00

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