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.
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!
