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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 :
- 8:30am EST– US CPI
Today’s Surf
12:30am 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 1.8656 with a stop at the most recent swing high at 1.8682. Since I was only 6 pips away from the nearest 50 or 00 level (1.8650), I decided to go for the same amount of pips I was risking on the trade, which in this case was 26. This put my initial target at 1.8630.
Entry: Short at 1.8656
Stop: 1.9682
Initial Target: 1.8630
1:00am EST- Unfortunately I was stopped out of my trade.
1:30am 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 1.8659 with a stop at the most recent swing high at 1.8683. Since I was only 9 pips away from the nearest 50 or 00 level (1.8650), I decided to go for the same amount of pips I was risking on the trade, which in this case was 24. This put my initial target at 1.8635.
Entry: Short at 1.8659
Stop: 1.8683
Initial Target: 1.8635
2:00am EST- Unfortunately I was stopped out of my trade.
9:15am 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 1.8716 with a stop at the most recent swing high at 1.8784. Since I was 16 pips away from the nearest 50 or 00 level, I decided to put my target at 1.8700.
Entry: Short at 1.8716
Stop: 1.8784
Initial Target: 1.8700
9:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.8702.
11:30am EST- There was a moving average crossover for a short trade, but MACD was already negative. This cancelled the signal and I did not enter.
Trade Result: -26 -24 +14= -36 pips (NOT INCLUDING SPREAD!) R-Multiple: -1.00; -1.00; 0.20
News events to watch for tomorrow :
- 8:30am EST– US TIC Data
For a complete list of news events check out our News Section
