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Main Trend
Current Trend= The trend remained up until 8am EST. From 4am – 8am EST, a new trend change candle formed and changed the trend from up to DOWN. After 8am EST, the trend remained down the rest of the day.
Today I only looked for long trades until 8am EST. After 8am EST, I only looked for short trades.
News events to watch for today :
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- 10:00am EST- US Consumer Confidence
Today’s Surf
1:15am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.9935 with a stop at the most recent swing low at 1.9920. Since I was 15 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9950.
- Entry: Long at 1.9935
- Stop: 1.9920
- Initial Target: 1.9950
2:15am EST- My target was hit! Price didn’t make a clean break of my target so I took my final profit.
5:30am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.9950 with a stop at the most recent swing low at 1.9921. Since I was 50 pips away from the nearest 50 or 00 level, I decided to put my initial target at 2.0000.
- Entry: Long at 1.9950
- Stop: 1.9921
- Initial Target: 2.0000
6:00am EST– Unfortunately I was stopped out of my trade.
Trade Result: +15 -29= -14 (NOT INCLUDING SPREAD: R-Multiple: 1.00; -1.00
News events to watch for tomorrow :
-
- 8:15am EST– US ADP Nonfarm Employment Change
