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Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades

News events to watch for today :

• 8:30am EST- US Durable Goods Orders


• 2:15pm EST- US FOMC Statement

Today's Surf

2:00am 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 1.6019 with a stop at the most recent swing low at 1.5938. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my target at 1.6050.

Entry: Long at 1.6019

Stop: 1.5938

Initial Target: 1.6050

2:30am EST- My target was hit at 1.6050. Price made a clean break so I moved my stop to 1.6050 and set my next target for 1.6100.

2:45am EST- My 2nd target was hit at 1.6100. Price made a clean break so I trailed my stop to 1.6100 and set my next target for 1.6150. During this same candle my target at 1.6150 was hit. Price again made a clean break so I trailed my stop to 1.6150 and set my next target at 1.6200. Once again my target was hit during this same candle. However, this time, price did not make a clean break of 1.6200 so I took my final profit. I exited out at 1.6190.

6:30am 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 1.6062 with a stop at the most recent swing low at 1.5977. Since I was 38 pips away from the nearest 50 or 00 level, I decided to put my target at 1.6100.

Entry: Long at 1.6062

Stop: 1.5977

Initial Target: 1.6100

8:00am EST- My target was hit at 1.6100. Price did not make a clean break so I took my final profit. I exited at 1.6095.

9:15am 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 1.6083 with a stop at the most recent swing low at 1.5992. Since I was 17 pips away from the nearest 50 or 00 level, I decided to put my target at 1.6100.

Entry: Long at 1.6083

Stop: 1.5992

Initial Target: 1.6100

9:45am EST- My target was hit at 1.6100. Price made a clean break so I trailed my stop to 1.6100 and set my next target for 1.6150.

10:00am EST- My 2nd target at 1.6150 was hit. Price made a clean break so I trailed my stop to 1.6150 and set my next target for 1.6200. During this same candle, my 3rd target was hit at 1.6200. However, this time, price did not make a clean so I took my final profit. I exited at 1.6195.

Trade Result: +171 +33 +112= +316 pips (NOT INCLUDING SPREAD) R-Multiple: 2.11; 0.38; 1.23

News events to watch for tomorrow :

• 3:00am EST- UK Nationwide HPI


• 8:30am EST- US GDP

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

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