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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 :

• 4:30am EST- UK Services PMI


• 10:00am EST- US Factory Orders


• 2:00pm EST- US Beige Book

Today's Surf

11:00am 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 1.7747 with a stop at the most recent swing high at 1.7819. Since I was 47 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.7700.

Entry: Short at 1.7747

Stop: 1.7819

Initial Target: 1.7700

1:45am EST- My target wasn't hit by this time. Since news was coming out at 2:00pm EST, I decided to close out my trade. I exited at 1.7726.

Trade Result: +21 pips(NOT INCLUDING SPREAD) R-Multiple: 0.29

News events to watch for tomorrow :

• 4:00am EST- UK Halifax HPI


• 7:00am EST- UK Bank Rate Statement


• 8:15am EST- US ADP Non farm employment change


• 8:30am EST- US Revised Non Farm Productivity, Unemployment Claims


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

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

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