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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 :

  • 4:30 am EDT- UK Claimant Count Change
  • 5:30 am EDT- UK Inflation Report

Main Trend

Today’s Surf

3:00 am EDT- 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 1.5419 with a stop at the most recent swing high at 1.5478. Since I was 19 pips away from the nearest 50 or 00 level, I decided to put my target at 1.5400.

Entry: Short at 1.5419
Stop: 1.5478
Initial Target: 1.5400

3:30 am EDT- My target was hit at 1.5400. Price made a clean break so I moved my stop to 1.5400 and set my next target for 1.5350.

4:00 am EDT– My 2nd target was hit at 1.5350. This time, price did not make a clean break so I closed my trade. I exited at 1.5345.

entry2

Trade Result: +74 pips (NOT INCLUDING SPREAD) R-Multiple: 1.25

News events to watch for tomorrow :

    • 8:30 am EDT- US Trade Balance