Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
News events to watch for today :
- 8:30am EST– US PPI m/m
Main Trend
Today’s Surf
3:15am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.5124 with a stop at the most recent high at 1.5170. Since I was 24 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5100.
Entry: Short at 1.5124
Stop: 1.5170
Target: 1.5100
6:15am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.5105.
Trade Result: +19 pips (NOT INCLUDING SPREAD) R-Multiple: 0.41
News events to watch for tomorrow :
- 8:30am EST– US Core CPI m/m; Empire State Manufacturing Index
- 9:00am EST- US TIC Long-Term Purchases
