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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 :
- None
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 1.5915 with a stop at the most recent swing low at 1.5899. Since I was 35 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5950.
Entry: Long at 1.5915 Stop: 1.5899 Target: 1.5950
2:00am EST- Unfortunately I was stopped out of my trade. (-16 pips)
4:45am 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 1.5915 with a stop at the most recent swing low at 1.5883. Since I was 35 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5950.
Entry: Long at 1.5915 Stop: 1.5883 Target: 1.5950
6:00am EST- Unfortunately I was stopped out of my trade. (-32 pips)
10:45am 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: -16 -32= -48 pips R-Multiple: -1.00; -1.00
News events to watch for Thursday:
- 4:30am EST- UK Manufacturing Production ; Industrial Production
- 7:00am EST– UK BOE Rate Decision ; BOE Asset Purchase Target
- 8:30am EST– US Initial Claims
For a complete list of news events check out our Forex Economic Calendar.
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