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Main Trend
Current Trend
The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST– UK Industrial Production; Manufacturing Production
- 10:00am EST– UK IBD Consumer Optimism
Today’s Surf
12:30am 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 1.6052 with a stop at the most recent swing low at 1.6036. I was 48 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6100.
Entry: Long at 1.6052 Stop: 1.6036 Target: 1.6100
2:15am EST– My target was hit. Price made a clean break so I moved my stop to 1.6100 and set my next target for 1.6150.
2:30am EST– Unfortunately I got stopped out at my original target at 1.6100. (+48 pips)
4:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, but stochastics were negative and MACD was also moving further negative. This cancelled out the signal and I did not enter.
7:45am 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 1.6075 with a stop at the most recent swing low at 1.6043. I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6100.
Entry: Long at 1.6075 Stop: 1.6043 Target: 1.6100
9:30am EST– My target was hit. Price made a clean break so I moved my stop to 1.6100 and set my next target for 1.6150.
10:00am EST– Unfortunately I got stopped out at my original target at 1.6100. (+25 pips)
Trade Result: +48+25= +73 pips R-Multiple: 3.00; 0.78
News events to watch for Wednesday:
- None
For a complete list of news events check out our Forex Economic Calendar.
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