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Main Trend
Current Trend
The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :
- 4:30am EST–UK CIPS Services PMI; Current Account; GDP
- 7:00am EST– UK BOE MPC Meeting
- 8:15am EST– US ADP Employment Survey
- 10:00am EST– US ISM Non Manufacturing
Today’s Surf
2:15am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.5431 with a stop at the most recent high at 1.5451. Since I was 31 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5400.
Entry: Short at 1.5431 Stop: 1.5451 Target: 1.5400
3:00am EST– Unfortunately I got stopped out of my trade. (-20 pips)
3:15am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.5429 with a stop at the most recent high at 1.5455. Since I was 29 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5400.
Entry: Short at 1.5429 Stop: 1.5455 Target: 1.5400
3:45am EST– Unfortunately I was stopped out of my trade. (-26 pips)
7:45am EST– There was a valid signal here but because it was right before a news candle I did not enter.
Trade Result: -20 -26= -46 pips R-Multiple: -1.00; -1.00
News events to watch for Thursday:
- 7:00am EST– UK BOE MPC Base Rate; Interest Rate Announcement
- 8:30am EST- US Initial Claims
For a complete list of news events check out our Forex Economic Calendar.
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