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Main Trend
Current Trend
The trend stayed down the entire day.
Today I only looked for short trades.
News events to watch for today :
- 4:30am EST– UK Purchasing Manager Index Construction
- 8:15am EST– US ADP Employment Change
- 8:30am EST– US Non-Farm Productivity
- 10:00am EST– US Factory Orders
- 2:00pm EST– US FOMC Meeting Minutes
Today’s Surf
1:30am 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 1.6156 with a stop at the most recent high at 1.6178. Since I was only 6 pips away from the nearest 50 or 00 level (1.6150), I decided to go for the same amount of pips I was risking on the trade, which in this case was 22. This put my initial target at 1.6134.
Entry: Short at 1.6156 Stop: 1.6178 Target: 1.6134
2:00am EST– Unfortunately I was stopped out of my trade.
3:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry
The entry was at the close of the candle at 1.6146 with a stop at the most recent high at 1.6191. Since I was 46 pips away from the nearest 50 or 00 level, I put my initial target at 1.6100.
Entry: Short at 1.6146 Stop: 1.6191 Target: 1.6100
4:15am EST– My target wasn’t by this time and news was about to come out at 4:30am EST. I manually exited my trade and closed out at 1.6133.
9:30am EST– There was a moving average crossover for a short trade but it was right before news at 10:00am EST, and it didn’t meet the criteria of a signal. No entry.
Trade Result: -22 +13= -9 pips (NOT INCLUDING SPREAD) R-Multiple: -1.00; 0.28
News events to watch for tomorrow:
- 4:30am EST– UK Services PMI
- 8:30am EST– US Unemployment Claims
- 10:00am EST– US ISM Non-Manufacturing PMI
For a complete list of news events check out our Forex Economic Calendar.
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