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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

12:15, 12:45am EST- There was a moving average crossover for a short trade but MACD was already negative so there was no entry.

10:45am EST- 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 1.9653 with a stop at the most recent swing high at 1.9716. Since I was only 3 pips away from the nearest 50 or 00 level (1.9650), I decided to go for the same amount of pips I was risking on the trade, which in this case was 63. This put my initial target at 1.9590.

Entry: Short at 1.9653

Stop: 1.9716

Initial Target: 1.9590

2:15am EST- My target wasn't hit by this time and I had to end my trading day so I went ahead and took my profit and exited at 1.9621.

Trade Result: +32 (NOT INCLUDING SPREAD: R-Multiple: 0.50

News events to watch for tomorrow :

• Tentative- UK Halifax HPI


• 4:30am EST- UK Manufacturing Production, Services PMI


• 10:00am EST- US ISM Non Manufacturing Index


• 2:15pm EST- US FOMC Statement

For a complete list of news events check out our News Section

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