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Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

Today's Surf

2:15am 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 2.0396 with a stop at the most recent swing high at 2.0446. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my target at 2.0350

Entry: Short at 2.0396
Stop: 2.0446
Initial Target: 2.0350

4:15am EDT- My target was hit. Price didn't make a clean break so I took my final profit. I managed to exit at 2.0352

Trade Result: +44 pips; R-Multiple: 0.88

News events to watch for tomorrow :

• 9:00am EDT- US TIC Data

For a list of all of tomorrow's news events, check out our Forex Calendar

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