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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 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 canceled out the signal and there was no entry.

entry2

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