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Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 6:00am EST- UK CBI Realized Sales
- 10:00am EST– US Existing Home Sales; Bernanke Speaks
2:30am 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 1.8551 with a stop at the most recent swing low at 1.8501. Since I was 49 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.8600.
Entry: Long at 1.8551
Initial Target: 1.8600
5:45am EST- My target was hit. Price did not make a clean break of my target so I took my final profit. I exited at 1.8595.
Trade Result: +44 pips R-Multiple: 0.88
News events to watch for tomorrow :
- 8:30am EST- US Core Durable Goods, US Unemployment Claims
- 10:00am EST- US New Home Sales
For a complete list of news events check out our News Section