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Main Trend

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

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.

entry2

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

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

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