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Main Trend

Current Trend= The trend remained up until 11am EDT. From 7am – 11am EDT, a new trend change candle formed and changed the trend from up to DOWN. After 11am EDT, the trend remained down the rest of the day.

Today I only looked for long trades until 11am EDT. After 11am EDT, I only looked for short trades.

News events to watch for today :

  • 4:30am EDT– UK Trade Balance

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, 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 1.4826 with a stop at the most recent low at 1.4766. Since I was 24 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4850.

Entry: Long at 1.4826

Stop: 1.4766

Target: 1.4850

8:45am EDT- Unfortunately I was stopped out of my trade.

entry2

Trade Result: -60 pips (NOT INCLUDING SPREAD) R-Multiple: -1.00

News events to watch for tomorrow :

  • 4:30am EDT– UKClaimant Count Change
  • 5:30am EDT– UK BOE Inflation Report
  • 8:30am EDT– US Trade Balance

For a complete list of news events check out our News Section

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