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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 :

Today’s Surf

12:45am 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 1.5503 with a stop at the most recent swing high at 1.5516. Since I was only 3 pips away from the nearest 50 or 00 level (1.5500), I decided to go for the same amount of pips I was risking on the trade, which in this case was 13. This put my initial target at 1.5490.

Entry: Short at 1.5503 Stop: 1.5516 Target: 1.5490

2:00am EST– My target was hit. Price didn’t make a clean break so I exited my trade. I got out at 1.5490. (+13 pips)


Trade Result: +13 pips R-Multiple: 1.00

News events to watch for Friday:

For a complete list of news events check out our Forex Economic Calendar.
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