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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 Total Trade Balance
  • 8:30am EST– US Trade Balance

Today’s Surf

3:45am EST– There was a valid signal here but because it was right before a news report, I did not enter.

9:45am 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 1.6155 with a stop at the most recent low at 1.6140. Since I was 45 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6200.

Entry: Long at 1.6155 Stop: 1.6140 Target: 1.6200

12:30pm EST– I manually exited my trade at 1.6172.

entry2

Trade Result: +17 pips (NOT INCLUDING SPREAD) R-Multiple: 1.13

News events to watch for tomorrow:

  • 4:30am EST- UK Manufacturing Production m/m
  • 10:30am EST- US Crude Oil Inventories
  • 2:00pm EST– US Beige Book

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