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Main Trend

Current Trend

The trend stayed up until 8am EST. From Midnight – 8am EST a new trend change candle formed. It took the span of two candles for the new trend to be confirmed. The trend change candle changed the trend from up to DOWN. After 8am EST, the trend remained down the rest of the day.

Today I only looked for long trades until 8am EST. After that, I only looked for short trades.

News events to watch for today :

  • 6:00am EST– UK CBI Realized Sales
  • 8:30am EST– US Core Durable Goods Orders m/m; Unemployment Claims
  • 10:00am EST– US New Home Sales

Today’s Surf

1:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive. This cancelled the signal and I did not enter.

4:00am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive. This cancelled the signal and I did not enter.

entry2

Trade Result: +0 pips R-Multiple: N/A

News events to watch for tomorrow:

  • 8:30am EST– US Prelim GDP q/q

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