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Current Trend= The trend remained down the entire day.
Today I only looked for short trades
News events to watch for today :
- 4:30am EST– UK PPI Input
4:30am 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 1.9159 with a stop at the most recent swing high at 1.9206. Since I was only 9 pips away from the nearest 50 or 00 level (1.9150), I decided to go for the same amount of pips I was risking on the trade, which in this case was 47. This put my initial target at 1.9112.
Entry: Short at 1.9159
Initial Target: 1.9112
3:45am EST- Unfortunately I was stopped out of my trade.
6:30am, 7:15 EST– There was a crossover for a short trade, but MACD was already negative so it cancelled out the signal. No entry!
Trade Result: -47 pips (NOT INCLUDING SPREAD!) R-Multiple: -1.00
News events to watch for tomorrow :
- 4:30am EST- UK CPI
- 8:30am EST– US Trade Balance
For a complete list of news events check out our News Section