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Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades.

News events to watch for today :

• 5:30am EDT- UK Industrial Production, PPI Input

Today's Surf

12:30am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 2.0195 with a stop at the most recent swing low at 2.0178. Since I was only 5 pips away from the nearest 50 or 00 level (2.0200), I decided to go for the same amount of pips I was risking on the trade, which in this case was 17. This put my initial target at 2.0212.

Entry: Long at 2.0195
Stop: 2.0178
Initial Target: 2.0212

5:15am EDT- There was a valid signal here but because it was right before news, I did not enter.

Trade Result: -17 pips; R-Multiple: -1.00

News events to watch for tomorrow :

• 8:30am EDT- US Trade Balance

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