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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 :

  • 10:00am EDT– US CB Consumer Confidence

Main Trend

Today’s Surf

1:00 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 1.4467 with a stop at the most recent swing high at 1.4512. Since I was 17 pips away from the nearest 50 or 00 level, I put my initial target at 1.4450.

Entry: Short at 1.4467
Stop: 1.4512
Initial Target: 1.4450

1:15 am EDT- My target was hit. Price made a clean break so I moved my stop to 1.4450 and set my next target for 1.4400.

1:30 am EDT– Unfortunately, I was stopped out at 1.4450.

6:45 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 1.4492 with a stop at the most recent swing high at 1.4548. Since I was 42 pips away from the nearest 50 or 00 level, I put my initial target at 1.4450.

Entry: Short at 1.4492
Stop: 1.4548
Initial Target: 1.4450

8:00 am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4455.

10:30 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 1.4447 with a stop at the most recent swing high at 1.4520. Since I was 47 pips away from the nearest 50 or 00 level, I put my initial target at 1.4400.

Entry: Short at 1.4447
Stop: 1.4520
Initial Target: 1.4400

11:00 am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4407.

entry2

Trade Result: +17 +37 +40= +94 pips (NOT INCLUDING SPREAD) R-Multiple: 0.37; 0.66; 0.54

News events to watch for tomorrow :

  • No trading tomorrow or New Years Day- Too many bank holidays!