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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 Claimant Count Change; ILO Unemployment Rate; Claimant Count Rate
- 8:30am EST– US PPI
- 9:15am EST– US Industrial Production; Capacity Utilization
- 10:00am EST– US NAHB Builders Survey
Today’s Surf
2:15am 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 1.5358 with a stop at the most recent swing low at 1.5332. Since I was 42 pips away from the nearest 50 or 00 level I put my initial target at 1.5400.
Entry: Long at 1.5358 Stop: 1.5332 Target: 1.5400
3:300am EST- Unfortunately I was stopped out of my trade. (-26 pips)
4:30am EST– There was a valid signal here but because it was on a news candle I did not enter.
7:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, MACD was negative and gaining value, but MACD was still trending down. This cancelled out the signal and I did not enter.
9:30am EST– There was a valid signal here but because it was right before news, I did not enter.
Trade Result: -26 pips R-Multiple: -1.00
News events to watch for Thursday:
- 8:30am EST- US CPI; Building Permits; Housing Starts; Initial Claims
- 10:00am EST– US Philly Fed Survey
For a complete list of news events check out our Forex Economic Calendar.
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