Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
News events to watch for today :
- 4:30 am EST– UK CPI y/y
Main Trend
Today’s Surf
2:30 am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.4519 with a stop at the most recent high at 1.4573. Since I was 19 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4500.
Entry: Short at 1.4519
Stop: 1.4573
Target: 1.4500
2:45 am EST– My target was hit. Price made a clean break so I moved my stop to 1.4500 and set my next target for 1.4350.
3:00 am EST– Unfortunately, I was stopped out at 1.4500.
6:45 am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.4537 with a stop at the most recent high at 1.4605. Since I was 19 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4500.
Entry: Short at 1.4537
Stop: 1.4605
Target: 1.4500
9:30 am EST– Unfortunately, I was stopped out.
Trade Result: +19 -68= -49 pips (NOT INCLUDING SPREAD) R-Multiple: 0.35; -1.00
News events to watch for tomorrow :
- 4:30 am EST– UK Claimant Count Change; MPC Meeting Minutes
