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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 GDP
- 9:00am EST– US S&P Case-Shiller Home Price
- 10:00am EST– US Consumer Confidence
Today’s Surf
2:30am 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 1.6814 with a stop at the most recent swing low at 1.6807. Since I was 36 pips away from the nearest 50 or 00 level, I decided to put my target at 1.6850.
Entry: Long at 1.6814 Stop: 1.6807 Target: 1.6850
4:15am EST– Unfortunately I was stopped out of my trade. (-7 pips)
8:00am 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 1.6815 with a stop at the most recent swing low at 1.6800. Since I was 35 pips away from the nearest 50 or 00 level, I decided to put my target at 1.6850.
Entry: Long at 1.6815 Stop: 1.6800 Target: 1.6850
8:45am EST– My target wasn’t hit by this time. Since news was coming out at 9:00am EST, I decided to manually exit my trade. I got out at 1.6830. (+15 pips)
Trade Result: -7 +15= +8 pips R-Multiple: -1.00; 1.00
News events to watch for Wednesday:
- 8:15am EST– US ADP Employment Survey
- 8:30am EST– US Core PCE Price Index; GDP
- 9:45am EST- US Chicago PMI
For a complete list of news events check out our Forex Economic Calendar.
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