Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 3:00am EDT- GBP Halifax House Price Index
- 7:00am EDT- BOE Interest Rate Statement
- 8:30am EDT- US Unemployment Claims
- 10:00am EDT– US Pending Home Sales
12:15am EDT– 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 1.9912 with a stop at the most recent swing low at 1.9901. Since I was 38 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9950.
Entry: Long at 1.9912
Initial Target: 1.9950
2:45am EDT– My target was not hit by this time, and I knew that the Halifax House Price Index was coming out at 3:00am EDT. I exited my trade before the news and got out at 1.9922.
6:45am EDT– There was a good signal here which would’ve netted alot of pips, but because it was right before the BOE Interest Rate Statement, I did not enter.
Trade Result: +10 pips; R-Multiple: 0.91
News events to watch for tomorrow :
- 8:30am EDT- US Non Farm Employment Change