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Main Trend

Current Trend= The trend remained up the entire day

Today I only looked for long trades.

News events to watch for today :

  • 8:15 am EDT– US ADP Non-Farm Employment

Today’s Surf

12:30 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 1.4916 with a stop at the most recent swing low at 1.4881. Since I was 34 pips away from the nearest 50 or 00 level, I put my initial target at 1.4950.

Entry: Long at 1.4916
Stop: 1.4881
Initial Target: 1.4950

2:45 am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4940.

5:45 am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 1.4925 with a stop at the most recent swing low at 1.4802. Since I was 25 pips away from the nearest 50 or 00 level, I put my initial target at 1.4950.

Entry: Long at 1.4925
Stop: 1.4802
Initial Target: 1.4950

6:45 am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4944.

entry2

Trade Result: +24 +19= +43 pips (NOT INCLUDING SPREAD) R-Multiple: 0.68; 0.15

News events to watch for tomorrow :

  • 7:00am EDT– UK Official Bank Rate
  • 8:30am EDT– US Unemployment Claims