Current Trend
The trend stayed up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 8:30 am EST– US Retail Sales; Initial Jobless Claims
Main Trend
Today’s Surf
2:00 am EST- There was a moving average crossover for a long trade. RSI was greater than 50, MACD was negative and gaining value, but stochastics were still trending down. This canceled out the signal and I did not enter.
4:15 am 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 1.6423 with a stop at the most recent low at 1.6366. Since I was 27 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6450.
Entry: Long at 1.6423
Stop: 1.6366
Target: 1.6450
4:30 am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.6445.
7:30 am EST-There was a moving average crossover for a long trade. RSI was greater than 50, MACD was negative and gaining value, but stochastics were still trending down. This canceled out the signal and I did not enter.
9:15 am 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 1.6469 with a stop at the most recent low at 1.6379. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6500.
Entry: Long at 1.6469
Stop: 1.6379
Target: 1.6500
9:45 am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.6497.
Trade Result: +22 +28= +50 pips (NOT INCLUDING SPREAD) R-Multiple: 0.38; 0.31
News events to watch for tomorrow:
- None
