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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 :

  • 8:30am EST– US Advance Retail Sales
  • 10:00am EST– US Business Inventories

Today’s Surf

2:00am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.

The entry was at the close of the candle at 1.6302 with a stop at the most recent low at 1.6271. Since I was 48 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6350.

Entry: Long at 1.6302 Stop: 1.6271 Target: 1.6350

3:00am EST– Unfortunately I was stopped out of my trade.

3:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.

The entry was at the close of the candle at 1.6291 with a stop at the most recent low at 1.6264. Since I was only 9 pips away from the nearest 50 or 00 level (1.6300), I decided to go for the same amount of pips I was risking, which in this case was 27. This put my initial target at 1.6318.

Entry: Long at 1.6291 Stop: 1.6264 Target: 1.6318

6:15am EST– Unfortunately I was stopped out of my trade.

8:30am EST- There was a valid signal here but because it was a news candle I did not enter.

entry2

Trade Result: -31 -27= -58 pips (NOT INCLUDING SPREAD) R-Multiple: -1.00; -1.00

News events to watch for tomorrow:

  • 8:30am EST- US Core CPI m/m
  • 9:15am EST– US Capacity Utilization
  • 9:55am EST- US Prelim UoM Consumer Sentiment

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