Had a busy day of playing catch up on Friday and didn’t get a chance to trade. I took a look at the charts though and it looks like you would’ve had a couple of small losers if you did trade. Don’t be bummed dudes. Stay disciplined and you will be rewarded!
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Current Trend= The trend remained up the entire day
Today I only looked long short trades.
News events to watch for today :
- 4:30am EST- UK PPI Input
12:15am 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 1.9689 with a stop at the most recent swing low at 1.9670. Since I was only 11 pips away from the nearest 50 or 00 level, I decided to go for the same amount of pips I was risking on the trade, which in this case was 19. This put my initial target at 1.9708.
Entry: Long at 1.9689
Initial Target: 1.9708
3:00am EST- My target was hit. Price made a clean break of my target so I moved my stop to 1.9708 and set my next target for 1.9750.
3:15am EST- Unfortunately I was stopped out at 1.9708.
Trade Result: +19 pips (THIS DOESN’T INCLUDE SPREAD): R-Multiple: 1.00
News events to watch for tomorrow :
- 4:30am EST- UK Industrial Production
- 7:00am EST- BOE Governor King Speaks
- 8:30am EST- US Trade Balance
For a complete list of news events check out our News Section