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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 :
- 2:00am EDT- UK Nationwide HPI m/m
- 8:30am EDT– US Core Durable Goods Orders m/m; Unemployment Claims
- 10:00am EDT– US New Home Sales
5:00am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive. This cancelled out the signal and I did not enter.
10:45am EDT– 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 1.4321 with a stop at the most recent low at 1.4229. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my target at 1.4350.
Entry: Long at 1.4321
12:00pm EDT- Unfortunately I was stopped out of my trade.
Trade Result: -92 pips (NOT INCLUDING SPREAD) R-Multiple: -1.00
News events to watch for tomorrow :
- 8:30am EDT– US Advance GDP q/q
- 9:45am EDT– US Chicago PMI
- 9:55am EDT– US Revised UoM Consumer Sentiment
For a complete list of news events check out our News Section