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Main Trend
Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST– UK Current Account, GDP
- 8:30am EST– US Core PCE Price Index, Personal Spending, Personal Income
Today’s Surf
12:30am 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 1.9871 with a stop at the most recent swing low at 1.9857. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9900.
Entry: Long at 1.9871
Stop: 1.9857
Initial Target: 1.9900am EST- My target was hit. Price did not make a clean break of my target, so I took my final profit. I exited at 1.9768.
2:30am EST- Unfortunately I was stopped out of my trade.
4:30am EST– This was a news candle so there was no entry.
7:30am EST- There was a moving average crossover for a long trade. However, MACD was already positive and it was too close to a news candle. Because of this, I did not enter.
9:45am 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 1.9878 with a stop at the most recent swing low at 1.9854. Since I was 22 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9900.
10:15am EST– My target was hit. Price made a clean break so I moved my stop to 1.9900 and set my next target for 1.9950.
11:30am EST– I got really close to 1.9950 but the price didn’t hit. Since I was close, I manually exited my trade. I got out at 1.9947.
Trade Result: -14 +69= +55 pips: R-Multiple: -1.00; 2.29
News events to watch for Monday :
- 9:45am EST- US Chicago PMI
For a complete list of news events check out our News Section
