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Main Trend
Current Trend
The trend was up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 10:00am EST– US NAHB Builders Survey
Today’s Surf
1:45am 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 1.5671 with a stop at the most recent swing low at 1.5656. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my target at 1.5700.
Entry: Long at 1.5671 Stop: 1.5656 Target: 1.5700
2:15am EST- Unfortunately I was stopped out of my trade. (-15 pips)
2:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, MACD was negative and gaining value but stochastics were still trending down. This cancelled out the signal and I did not enter.
7:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.
10:15am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.
Trade Result: -15 pips (Not including spread) R-Multiple: -1.00
News events to watch for Tuesday:
- 8:30am EST- US Building Permits ; Housing Starts
For a complete list of news events check out our Forex Economic Calendar.
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