Start your own blog and share your trades at MeetPips.com
If you haven’t done so already , go check out BabyPips’ newest creation, FreshPips.com !
Freshpips.com delivers to your e-door step the most relevant Forex news and research on the Web. The stories you see on FreshPips are submitted by site members – you and your fellow Forex traders. You then decide what’s “fresh” and what, well, sucks. Top honors – submissions placed on the main page – are given to the stories deemed fresh by the FreshPips.com community as a whole.
Check it out, register, and start submitting cool Forex stories today!
If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= The trend remained up the entire day.
Today I only looked for long trades
News events to watch for today :
- 4:30am EDT– UK Services PMI
- 8:15am EDT– US ADP Non-Farm Employment Change
- 10:00am EDT– US ISM Non-Manufacturing PMI
Today’s Surf
12:00am 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 1.4409 with a stop at the most recent low at 1.4364. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my target at 1.4450.
Entry: Long at 1.4409
Stop: 1.4364
Target: 1.4450
1:30pm EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4446.
3:15am 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 1.4418 with a stop at the most recent low at 1.4323. Since I was 32 pips away from the nearest 50 or 00 level, I decided to put my target at 1.4450.
Entry: Long at 1.4418
Stop: 1.4323
Target: 1.4450
4:15pm EDT- My target wasn’t hit by this time. News was coming out at 4:30am EDT, so I manually exited my trade at 1.4404.
5:15am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive. This cancelled out the signal and I did not enter.
7:30am 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 1.4426 with a stop at the most recent low at 1.4353. Since I was 24 pips away from the nearest 50 or 00 level, I decided to put my target at 1.4450.
Entry: Long at 1.4426
Stop: 1.4353
Target: 1.4450
7:45pm EDT- My target was hit. Price didn’t make a clean break so I took my final profit. I managed to exit at 1.4445.
Trade Result: +37 -14 +19= +42 pips (NOT INCLUDING SPREAD) R-Multiple: 0.88; -0.14; 0.26
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
