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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
4:00am 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 1.5954 with a stop at the most recent swing low at 1.5913. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6000.
Entry: Long at 1.5954 Stop: 1.5913 Target: 1.6000
10:45am EST- Unfortunately I was stopped out of my trade. (-41 pips)
Trade Result: -41 Pips (Not including spread) R-Multiple: -1.00
News events to watch for Tuesday:
- 4:30am EST– UK Trade Balance ; Visible Trade Balance; CPI
- 10:00am EST– US IBD Consumer Optimism
For a complete list of news events check out our Forex Economic Calendar.
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