Current Trend= The trend remained up the entire day
Today I only looked for long trades.
News events to watch for today :
- None
Main Trend
Today’s Surf
12:00, 12:45 am EDT- There was a moving average crossover for a long trade. RSI was greater than 50 but Stochastics were trending down and MACD was already positive. No entry.
5:15 am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, MACD was negative and gaining value, but stochastics were trending down. No entry.
9:00 am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.4534 with a stop at the most recent swing low at 1.4473. Since I was 16 pips away from the nearest 50 or 00 level, I put my initial target at 1.4550.
Entry: Long at 1.4534
Stop: 1.4473
Initial Target: 1.4550
9:30 am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4545.
Trade Result: +11 pips (NOT INCLUDING SPREAD) R-Multiple: 0.18
News events to watch for tomorrow :
- 2:00am EDT– UK Nationwide HPI m/m
- 4:30am EDT– UK Services PMI
- 10:00am EDT- US ISM Non-Manufacturing PMI; Pending Home Sales m/m;
- 2:00pm EDT– US FOMC Meeting Minutes
