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 :
- 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