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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 1.6148 with a stop at the most recent swing low at 1.6134. Since I was only 2 pips away from the nearest 50 or 00 level (1.6150), I decided to go for the same amount of pips I was risking on the trade which in this case was 14 pips. This put my initial target at 1.6162.
Entry: Long at 1.6148 Stop: 1.6134 Target: 1.6162
2:15am EST- Unfortunately I was stopped out of my trade. (-14 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 trending down. This cancelled out the signal and I did not enter.
5:45am 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 1.6147 with a stop at the most recent swing low at 1.6101. Since I was only 3 pips away from the nearest 50 or 00 level (1.6150), I decided to go for the same amount of pips I was risking on the trade which in this case was 14 pips. This put my initial target at 1.6193.
Entry: Long at 1.6147 Stop: 1.6101 Target: 1.6193
12:00pm EST- My target wasn’t hit by this time. Since it was 12 noon I decided to go ahead and exit my trade. I closed out my trade at 1.6141 (-6 pips)
Trade Result: -14 -6 = -20 pips R-Multiple: -1.00; -0.13
News events to watch for Friday:
- 8:55am EST– US Univ Of Michigan Consumer Sentiment
For a complete list of news events check out our Forex Economic Calendar.
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