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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 Core Consumer Price Index
  • 9:00am EST– US Net Long-term TIC Flows

Today’s Surf

12:30am 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 1.6407 with a stop at the most recent low at 1.6396. Since I was 43 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6450.

Entry: Long at 1.6407 Stop: 1.6396 Target: 1.6450

12:45am EST– Unfortunately I was stopped out of my trade.

1:00am 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 1.6411 with a stop at the most recent low at 1.6396. Since I was 39 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6450.

Entry: Long at 1.6422 Stop: 1.6396 Target: 1.6450

3:45am EST– Unfortunately I was stopped out of my trade.

4:15am EST- There was a valid signal here but because it was right before a news candle I did not enter.

9:30am 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 1.6365 with a stop at the most recent low at 1.6310. Since I was 35 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6400.

Entry: Long at 1.6365 Stop: 1.6310 Target: 1.6400

12:00pm EST– I went ahead and manually exited my trade at 1.6370.

entry2

Trade Result: -11 -15 +5= -21 pips (NOT INCLUDING SPREAD) R-Multiple: -1.00; -1.00; 0.09

News events to watch for tomorrow:

  • 4:30am EST- UK MPC Meeting Minutes
  • 8:30am EST– US PPI m/m

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