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Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
News events to watch for today :
9:30am EDT– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.4048 with a stop at the most recent high at 1.4131. Since I was 48 pips away from the nearest 50 or 00 level, I put my initial target at 1.4000.
Entry: Short at 1.4048
11:00am EDT– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.4005.
Trade Result: +43 pips (NOT INCLUDING SPREAD) R-Multiple: 0.52
News events to watch for tomorrow :
- 4:30am EDT– UK Services PMI
- 8:15am EDT- US ADP Non-Farm Employment Change
- 10:00am EDT– US ISM Non-Manufacturing PMI
For a complete list of news events check out our News Section