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Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

News events to watch for today :

• None

Today's Surf

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

Stop: 1.4131

Target: 1.4000

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

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