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 Claimant Count Change
- 8:30am EST- US Retail Sales, US PPI
- 12:15pm EST– Bernanke Speaks
- 2:00pm EST– US Beige Book
5:15am 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 signal. The entry was at the close of the candle at 1.7479 with a stop at the most recent swing low at 1.7421. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.7500.
5:30am EST– My target was hit. Price didn’t make a clean break of my target so I took my final profit. I exited at 1.7500.
10:30am EST– There was almost a signal here but Stochastics were still trending down. This canceled out the signal and there was no entry.
Trade Result: +21 pips (NOT INCLUDING THE SPREAD) R-Multiple: 0.36
News events to watch for tomorrow :
- 8:30am EST- US CPI
- 9:00am EST- US TIC Data
- 10:00am EST– US Philadelphia Fed Index