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Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

News events to watch for today :

• None

Today's Surf

12:45am EST- There was almost a signal here but MACD was already negative so it cancelled it out. No entry!

5:15am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.9734 with a stop at the most recent swing high at 1.9766. Since I was 34 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9700.

Entry: Short at 1.9734
Stop: 1.9766
Initial Target: 1.9700

8:45am EST- My target was hit. Price did not make a clean break so I took my final profit. I managed to exit right at 1.9700 where the candle closed.

Trade Result: +34 pips: R-Multiple: 1.06

News events to watch for Monday :

• 4:30am EST- UK PPI Input
• 8:30am EST- US Retail Sales

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