If you haven’t done so already , go check out BabyPips’ newest creation, FreshPips.com !
Freshpips.com delivers to your e-door step the most relevant Forex news and research on the Web. The stories you see on FreshPips are submitted by site members – you and your fellow Forex traders. You then decide what’s “fresh” and what, well, sucks. Top honors – submissions placed on the main page – are given to the stories deemed fresh by the FreshPips.com community as a whole.
Check it out, register, and start submitting cool Forex stories today!
Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
News events to watch for today :
3:00am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 1.9506 with a stop at the most recent swing low at 1.9452. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9550.
Entry: Long at 1.9506
Initial Target: 1.9550
8:15am EST- My target wasn’t hit by this time and I knew that news was coming up at 8:30am EST, so I closed out my trade. I exited at 1.9487.
9:45am EST- There was a good signal here, but because it was right before the consumer sentiment report I did not enter.
Trade Result: -19 pips : R-Multiple: -0.35
News events to watch for Monday :
For a complete list of news events check out our News Section