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Main Trend
Current Trend
The trend stayed up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST– UK Services PMI
- 8:30am EST- US Unemployment Claims
- 10:00am EST- US ISM Non-Manufacturing PMI
Today’s Surf
12:45am 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 1.6678 with a stop at the most recent low at 1.6658. Since I was 22 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6700.
Entry: Long at 1.6678 Stop: 1.6658 Target: 1.6700
2:15am EST- My target was hit. Price made a clean break so I moved my stop to 1.6700 and set my next target for 1.6750.
2:30am EST- Unfortunately the momentum didn’t continue in my favor. I exited at 1.6710.
Trade Result: +32 Pips (NOT INCLUDING SPREAD) R-Multiple: 1.60
News events to watch for tomorrow:
- 8:30am EST- US Non-Farm Employment Change
For a complete list of news events check out our Forex Economic Calendar.
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