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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 :
- 5:30am EST- UK CIPS Construction PMI
Today’s Surf
4:15am 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 1.6074 with a stop at the most recent swing low at 1.6039. Since I was 26 pips away from the nearest 50 or 00 level, I decided to put my intial target at 1.6100.
Entry: Long at 1.6074 Stop: 1.6039 Target: 1.6100
5:15am EST- My target wasn’t hit by this time. Since news was coming out at 5:30am EST I went ahead and exited my trade at 1.6078. (+4 pips)
8:30am 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 1.6025 with a stop at the most recent swing low at 1.5960. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my intial target at 1.6050.
Entry: Long at 1.6025 Stop: 1.5960 Target: 1.6050
12:00am EST- My target wasn’t hit by this time. Since it was 12 noon EST, I went ahead and closed out my trade. I exited at 1.6015. (-10 pips)
Trade Result: +4 -10= -6 pips R-Multiple: 0.11; -0.15
News events to watch for Wednesday:
- 5:30am EST- UK CIPS Services PMI
- 10:00am EST– US ISM Non Manufacturing
