Current Trend= The trend remained up the entire day.
Today I only looked for long trades
4:15am ET– 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 2.0487 with a stop at the most recent swing low at 2.0424. Since I was 13 pips away from the nearest 00 or 50 level, I decided to put my target at 2.0500.
Entry: Long at 2.0487
Initial Target: 2.0500
9:45am ET– My target was not hit by this time. I knew that Existing Home Sales were coming out at 10am ET, and according to my rules, I do not hold my trades over important news events. I manually closed my trade and managed to get out at 2.0492
Trade Result: +5 pips; R-Multiple: 0.08
Tomorrow’s news events to watch out for:
- 8:30am ET– US Durable Goods
- 10:00am ET– US New Home Sales
For the rest of tomorrow’s news lineup, check out our Forex Calendar