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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 :
- 4:30am EST– UK CPI
- 8:30am EST– US PPI
- 10:00am EST– US Business Inventory
Today’s Surf
12:15am 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 1.5864 with a stop at the most recent swing low at 1.5856. Since I was 34 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5900.
Entry: Long at 1.5864 Stop: 1.5856 Target: 1.5900
2:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.5895. (+31 pips)
4:30am EST– There was a valid signal here but because it was a news candle I did not enter.
6:15am 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 1.5874 with a stop at the most recent swing low at 1.5849. Since I was 26 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5900.
Entry: Long at 1.5874 Stop: 1.5849 Target: 1.5900
8:00am EST– Unfortunately I was stopped out of my trade. (-25 pips)
Trade Result: +31 -25= +6 pips R-Multiple: 3.87; -1.00
News events to watch for Wednesday:
- 4:30am EST- UK ILO Unemployment Rate ; Average Earnings; Claimant Count
- 6:00am EST– UK CBI Distributive Trades
- 8:30am EST– US CPI ; Empire State Survey
- 9:00am EST– US TIC Data
- 9:15am EST– US Capacity Utilization; Industrial Production
- 10:00am EST– US NAHB Builders Survey
For a complete list of news events check out our Forex Economic Calendar.
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