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Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades

News events to watch for today :
  • All Day– G8 Meeting
  • 8:30am ESTUS CPI

Today’s Surf

12:00am 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 1.9457 with a stop at the most recent swing high at 1.9487. Since I was only 7 pips away from the nearest 50 or 00 level, I decided to go for the same amount of pips I was risking on the trade, which in this case was 30. This put my initial target at 1.9427.

Entry: Short at 1.9457
Stop: 1.9487
Initial Target: 1.9427

3:00am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.9432.

5:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.9452 with a stop at the most recent swing high at 1.9482. Since I was only 2 pips away from the nearest 50 or 00 level, I decided to go for the same amount of pips I was risking on the trade, which in this case was 30. This put my initial target at 1.9422.

Entry: Short at 1.9452
Stop: 1.9482
Initial Target: 1.9422

8:15am EST– Unfortunately my target was not hit by this time and since news was coming out at 8:30am EST, I closed out my trade. I exited at 1.9450.

entry2

Trade Result: +25 +2= +27 (THIS DOES NOT INCLUDE THE SPREAD): R-Multiple: 0.83; 0.06

News events to watch for Monday :
  • 8:30am EST- US Empire State Business Conditions
  • 9:00am EST- US TIC data

For a complete list of news events check out our News Section

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