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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 Claimant Count Change; Average Earnings; ILO Unemployment Rate
Today’s Surf
2:45am 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 1.5482 with a stop at the most recent swing high at 1.5494. Since I was 32 pips away from the nearest 50 or 00 level I put my initial target at 1.5450.
Entry: Short at 1.5482 Stop: 1.5494 Target: 1.5450
3:15am EST- Unfortunately I was stopped out of my trade. (-12 pips)
5:45am 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 1.5487 with a stop at the most recent swing high at 1.5530. Since I was 37 pips away from the nearest 50 or 00 level I put my initial target at 1.5450.
Entry: Short at 1.5487 Stop: 1.5530 Target: 1.5450
9:30am EST- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.5452. (+35 pips)
Trade Result: -12 +35= +23 pips R-Multiple: -1.00; 0.81
News events to watch for Thursday:
- 4:30am EST- UK Retail Sales
- 8:30am EST– US Initial Claims; Current Account; Empire State Survey; PPI
- 9:15am EST– US Capacity Utilization; Industrial Production
- 10:00am EST– US Philly Fed Index
For a complete list of news events check out our Forex Economic Calendar.
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