Psssssst….Have you heard of MeetPips.com?
If you haven’t done so already , go check out BabyPips’ newest creation, FreshPips.com !
Freshpips.com delivers to your e-door step the most relevant Forex news and research on the Web. The stories you see on FreshPips are submitted by site members – you and your fellow Forex traders. You then decide what’s “fresh” and what, well, sucks. Top honors – submissions placed on the main page – are given to the stories deemed fresh by the FreshPips.com community as a whole.
Check it out, register, and start submitting cool Forex stories today!
If this is your first time visiting this blog, read this first!
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 Claimant Count Change
- 8:30am EST- US Retail Sales, US PPI
- 12:15pm EST– Bernanke Speaks
- 2:00pm EST– US Beige Book
Today’s Surf
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.
Entry: 1.7479
Stop: 1.7421
Target: 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 cancelled 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
For a complete list of news events check out our News Section