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Current Trend= The trend remained down the entire day.

Today I only looked for short trades

News events to watch for today :

  • 7:00 am EST- UK CBI Realized Sales
  • 10:00 am EST- US CB Consumer Confidence

Main Trend

Today’s Surf

3:30 am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.5565 with a stop at the most recent swing high at 1.5750. Since I was 15 pips away from the nearest 50 or 00 level, I decided to put my target at 1.5550.

Entry: Short at 1.5565
Stop: 1.5750
Initial Target: 1.5550

3:45 am EST- My target was hit at 1.5550. Price made a clean break so I moved my stop to 1.5550 and set my next target for 1.5500. During this same candle, my 2nd target was hit at 1.5500 so I trailed my stop to 1.5500 and set my next target for 1.5450. Unfortunately, price didn’t get that low and I got stopped out at 1.5500.

10:00 am EST- This was a news candle so I did not enter.

entry2

Trade Result: +65 pips (NOT INCLUDING SPREAD) R-Multiple: 0.35

News events to watch for tomorrow :