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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 :

• 4:30am EDT- UK Services PMI


• 8:15am EDT- US ADP Non-Farm Employment Change


• 10:00am EDT- US ISM Non-Manufacturing PMI

Today's Surf

12:00am EDT- 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 1.4409 with a stop at the most recent low at 1.4364. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my target at 1.4450.

Entry: Long at 1.4409

Stop: 1.4364

Target: 1.4450

1:30pm EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4446.

3:15am 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 1.4418 with a stop at the most recent low at 1.4323. Since I was 32 pips away from the nearest 50 or 00 level, I decided to put my target at 1.4450.

Entry: Long at 1.4418

Stop: 1.4323

Target: 1.4450

4:15pm EDT- My target wasn't hit by this time. News was coming out at 4:30am EDT, so I manually exited my trade at 1.4404.

5:15am 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.

7:30am EDT- 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 1.4426 with a stop at the most recent low at 1.4353. Since I was 24 pips away from the nearest 50 or 00 level, I decided to put my target at 1.4450.

Entry: Long at 1.4426

Stop: 1.4353

Target: 1.4450

7:45pm EDT- My target was hit. Price didn't make a clean break so I took my final profit. I managed to exit at 1.4445.

Trade Result: +37 -14 +19= +42 pips (NOT INCLUDING SPREAD) R-Multiple: 0.88; -0.14; 0.26

News events to watch for tomorrow :

• 7:00am EDT- UK Official Bank Rate


• 8:30am EDT- US Unemployment Claims

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

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