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If this is your first time visiting this blog, read this first!
Sorry for the lack of updates lately. I’m in the process of building a house so it’s been a pretty hectic month or so for me! Thanks for your patience and I hope your trading is going well!
Main Trend
Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 5:30am EST– UK CPI y/y
- 5:45am EST– UK Inflation Report Hearings
- 10:00am EST– Fed Chairman Bernanke Testifies
Today’s Surf
4:45am EST– 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 1.4673 with a stop at the most recent low at 1.4620. Since I was 27 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4700.
Entry: Long at 1.4673
Stop: 1.4620
Target: 1.4700
5:00am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.4698.
7:00am EST– 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 1.4708 with a stop at the most recent low at 1.4641. Since I was 42 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4750.
Entry: Long at 1.4708
Stop: 1.4641
Target: 1.4750
8:15am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.4745.
11:30am EST– 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 1.4728 with a stop at the most recent low at 1.4659. Since I was 22 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4750.
Entry: Long at 1.4728
Stop: 1.4659
Target: 1.4750
5:00am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.4749.
Trade Result: +25 +37 +21= +83 pips (NOT INCLUDING SPREAD) R-Multiple: 0.47; 0.55; 0.30
News events to watch for tomorrow :
- 7:00am EST– UK CBI Realized Sales
- 8:30am EST- US Core Durable Goods Orders m/m
- 10:00am EST– US New Home Sales
For a complete list of news events check out our News Section