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
- 9:00am EST- US TIC Data
- 10:00am EST– US Philadelphia Fed Index
Main Trend
Today’s Surf
12:00am 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 signal. The entry was at the close of the candle at 1.7265 with a stop at the most recent swing high at 1.7354. Since I was 15 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.7250.
Entry: 1.7265
Stop: 1.7354
Target: 1.7250
12:15am EST– My target was hit. Price didn’t make a clean break of my target so I took my final profit. I exited at 1.7245
1:30am EST- There was a moving average crossover for a short trade. However, stochastics were still trending up and MACD was already negative. This canceled out the signal and I did not enter.
5:30am 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 signal. The entry was at the close of the candle at 1.7221 with a stop at the most recent swing high at 1.7281. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.7200.
Entry: 1.7221
Stop: 1.7281
Target: 1.7200
6:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.7205.
9:00am EST- There was a valid signal here but because it was a news candle I did not enter.
Trade Result: +20 +16= +36 pips (NOT INCLUDING THE SPREAD) R-Multiple: 0.22; 0.26
News events to watch for tomorrow :
- 8:30am EST- US Building Permits, Housing Starts
- 10:00am EST– Prelim UoM Consumer Sentiment