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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 :
- 8:30am EST- US Initial Claims
- 10:00am EST– US New Home Sales
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 1.5659 with a stop at the most recent swing low at 1.5645. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5700.
Entry: Long at 1.5659 Stop: 1.5645 Target: 1.5700
3:15am EST- Unfortunately I was stopped out of my trade. (-14 pips)
4:00am 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 1.5664 with a stop at the most recent swing low at 1.5633. Since I was 36 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5700.
Entry: Long at 1.5664 Stop: 1.5633 Target: 1.5700
4:30am EST- Unfortunately I was stopped out of my trade. (-31 pips)
5:30am 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 1.5673 with a stop at the most recent swing low at 1.5610. Since I was 27 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5700.
Entry: Long at 1.5673 Stop: 1.5610 Target: 1.5700
6:15am EST- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.5695. ( +22 pips)
8:30am EST- There was a valid signal here but because it was a news candle I did not enter.
Trade Result: -14 -31 +22= -23 pips (Not including spread) R-Multiple: -1.00; -1.00; 0.35
News events to watch for Friday:
- 8:30am EST- US Durable Goods
- 10:00am EST– US New Home Sales
For a complete list of news events check out our Forex Economic Calendar.
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