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Main Trend

Current Trend

The trend remained up the entire day.

Today I only looked for long trades.

News events to watch for today :

  • 4:30am EST– UK Retail Sales m/m
  • 8:30am EST– US Unemployment Claims
  • 10:00am EST– US Philly Fed Manufacturing Index

Today’s Surf

2:15am 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 1.5784 with a stop at the most recent low at 1.5754. Since I was 16 pips away from the nearest 50 or 00 level, I put my initial target at 1.5800.

Entry: Long at 1.5784 Stop: 1.5754 Target: 1.5800

2:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I managed to exit at 1.5795.

8:15am EST- This was not a signal because MACD was already positive and it was right before news.

entry2

Trade Result: +11 pips (NOT INCLUDING SPREAD) R-Multiple: 0.36

News events to watch for tomorrow:

  • 4:30am EST– UK Revised GDP q/q

For a complete list of news events check out our Forex Economic Calendar.
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