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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 :
- 9:00am EST- UK Manufacturing Production ; Industrial Production
- 10:00am EST– US IBD Consumer Optimism
Today’s Surf
2:00am 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 1.5756 with a stop at the most recent swing low at 1.5735. Since I was 44 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5800.
Entry: Long at 1.5756 Stop: 1.5735 Target: 1.5800
4:15am EST- Unfortunately my target wasn’t hit by this time. Since news was coming out at 4:30am EST I decided to close out my trade. I exited at 1.5787. (+31 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 was negative and gaining value. This was a valid entry.
The entry was at the close of the candle at 1.5811 with a stop at the most recent swing low at 1.5767. Since I was 39 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5850.
Entry: Long at 1.5811 Stop: 1.5767 Target: 1.5850
9:45am EST- Unfortunately my target wasn’t hit by this time. Since news was coming out at 10:00am EST I decided to close out my trade. I exited at 1.5805. (-6 pips)
Trade Result: +31 -6= +25 pips R-Multiple: 1.47; -0.13
News events to watch for Wednesday:
- None
For a complete list of news events check out our Forex Economic Calendar.
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