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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 :
- 8:15am EDT– US ADP Non Farm Employment
Today’s Surf
12:30am 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
2:45am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4940.
5:45am 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
6:45am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4944.
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
For a complete list of news events check out our News Section