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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 :
- 8:30am EST– US Initial Claims; PPI; Current Account
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 was negative and gaining value. This was a valid signal. I entered at the close of the candle at 1.4940 with a stop at the most recent swing low at 1.4926. Since I was 10 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.4950.
Entry: Long at 1.4940; Stop: 1.4926; Target: 1.4950
3:00am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.4949. (+9 pips)
6:30am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid signal. I entered at the close of the candle at 1.4939 with a stop at the most recent swing low at 1.4913. Since I was 11 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.4950.
Entry: Long at 1.4939; Stop: 1.4913; Target: 1.4950
6:45am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.4948. (+9 pips)
9:15am 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 signal. I entered at the close of the candle at 1.4961 with a stop at the most recent swing low at 1.4921. Since I was 39 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5000.
Entry: Long at 1.4961; Stop: 1.4921; Target: 1.5000
9:45am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.4997. (+36 pips)
Trade Result: +9 +9 +36= +54 pips R-Multiple: 0.64; 0.34; 0.90
News events to watch for Friday:
- 8:30am EST– US Empire State Survey; CPI
- 9:15am EST– US Capacity Utilization; Industrial Production
- 9:55am EST- US Univeristy Of Michigan Sentiment
For a complete list of news events check out our Forex Economic Calendar.
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