Sorry dudes. No video today! I promise I’ll put one up when I have the time. Unfortunately trading is not the only thing in my life 🙂
Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
News events to watch for today :
- 4:30am EST- UK Industrial Production
- 9:30am EST- US Fed Chairman, Bernanke speaks
6:15am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.9681 with a stop at the most recent swing high at 1.9724. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9650.
Entry: Short at 1.9681
Initial Target: 1.9650
7:45am EST– Unfortunately I was stopped out of my trade. Yikes!
Trade Result: -43 pips: R-Multiple: -1.00
News events to watch for tomorrow :
- 7:00am EST- BOE Interest Rate Statement
- 8:30am EST- US Trade Balance; Unemployment Claims