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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 :
- 5:00am EST– UK BOE gives evidence to Parliament’s Treasury Select Committee
- 6:00am EST– UK CBI Distributive Trades
- 9:00am EST– US FHFA House Price Index; S&P Case-Shiller Home Price
- 10:00am EST– US New Home Sales; Consumer Confidence
Today’s Surf
1:15am 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 negativeThis was a valid signal. I entered at the close of the candle at 1.5188 with a stop at the most recent swing high at 1.5217. Since I was 38 pips away from the nearest 50 or 00 level, I put my initial target at 1.5150.
Entry: Short at 1.5188; Stop: 1.5217; Target: 1.5150
3:15am EST- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.5153. (+35 pips)
6:30am 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 negativeThis was a valid signal. I entered at the close of the candle at 1.5150 with a stop at the most recent swing high at 1.5216. Since I was 50 pips away from the nearest 50 or 00 level, I put my initial target at 1.5100.
Entry: Short at 1.5100; Stop: 1.5216; Target: 1.5100
8:45am EST- My target wasn’t hit by this time. Since news was coming out at 9:00am EST, I decided to manually exit my trade. I got out at 1.5153. (-3 pips)
10:00am EST– There was a valid signal here but because it was a news candle I did not enter.
Trade Result: +35 -3= +32 pips R-Multiple: 1.20; -0.05
News events to watch for Wednesday:
- 4:30am EST– UK GDP
- 8:30am EST– US Durable Goods
- 10:00am EST– US Pending Home Sales
For a complete list of news events check out our Forex Economic Calendar.
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