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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; ILO Unemployment Rate; Claimant Count Rate; Average Earnings
- 5:30am EST– UK BOE Quarterly Inflation Report
- 8:30am EST– US PPI; Retail Sales
- 10:00am EST– US Business Inventories
Today’s Surf
2:00, 3:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out the signal and I did not enter.
5:30am EST- There was a valid signal here but because it was a news candle, I did not enter.
10:30am 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 1.5847 with a stop at the most recent swing high at 1.5879. Since I was 47 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5800.
Entry: Short at 1.5847 Stop: 1.5879 Target: 1.5800
11:45am EST– My target wasn’t hit by this time. Since it was about to be 12pm EST, I decided to manually exit my trade. I closed out at breakeven.
Trade Result: +0 pips R-Multiple: N/A
News events to watch for Thursday:
- 4:30am EST– UK Retail Sales
- 8:30am EST– US CPI; Empire State Survey; Initial Claims
- 10:00am EST– US Philadelphia Fed Survey
For a complete list of news events check out our Forex Economic Calendar.
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