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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 :
- 7:00am EST– UK BOE MPC Interest Rate Announcement
- 8:30am EST- US Initial Claims
- 10:00am EST- US Wholesale Inventories
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 1.5711 with a stop at the most recent swing low at 1.5695. Since I was 39 pips away from the nearest 50 or 00 level I put my initial target at 1.5750.
Entry: Long at 1.5711 Stop: 1.5695 Target: 1.5750
3:00am EST- Unfortunately I was stopped out of my trade. (-16 pips)
3:45am 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 1.5713 with a stop at the most recent swing low at 1.5691. Since I was 37 pips away from the nearest 50 or 00 level I put my initial target at 1.5750.
Entry: Long at 1.5713 Stop: 1.5691 Target: 1.5750
6:45am EST- Unfortunately my target wasn’t hit by this time. Since news was coming out at 7:00am EST I manually exited my trade. I closed out at 1.5705. (-8 pips)
7:15am 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 1.5711 with a stop at the most recent swing low at 1.5694. Since I was 39 pips away from the nearest 50 or 00 level I put my initial target at 1.5750.
Entry: Long at 1.5711 Stop: 1.5694 Target: 1.5750
8:15am EST- Unfortunately my target wasn’t hit by this time. Since news was coming out at 8:30am EST I manually exited my trade. I closed out at 1.5732. (+21 pips)
Trade Result: -16 -8 +21= -3 pips R-Multiple: -1.00; 0.36; 1.23
News events to watch for Friday:
- 4:30am EST– UK Trade Balance; Visible Trade Balance
- 8:30am EST– US Trade Balance
- 9:55am EST– US Univ of Mich Sentiment
For a complete list of news events check out our Forex Economic Calendar.
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