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 :
1:30am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.8103 with a stop at the most recent swing low at 1.7989. Since I was 47 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.8150.
Entry: Long at 1.8103
Initial Target: 1.8150
3:00am EST- Unfortunately I was stopped out of my trade. Ouch!
9:15am EST- There was a signal here but MACD was already positive which cancelled out the signal. No entry.
Trade Result: +24 pips (NOT INCLUDING SPREAD) R-Multiple: 0.39
News events to watch for tomorrow :
- 4:30am EST- UK CPI
- 8:30am EST– US CPI
- 9:00am EST– US TIC Data
- 2:15pm EST– FOMC Statement
For a complete list of news events check out our News Section