Start your own blog and share your trades at MeetPips.com
If you haven’t done so already , go check out BabyPips’ newest creation, FreshPips.com !
Freshpips.com delivers to your e-door step the most relevant Forex news and research on the Web. The stories you see on FreshPips are submitted by site members – you and your fellow Forex traders. You then decide what’s “fresh” and what, well, sucks. Top honors – submissions placed on the main page – are given to the stories deemed fresh by the FreshPips.com community as a whole.
Check it out, register, and start submitting cool Forex stories today!
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
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
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
For a complete list of news events check out our News Section