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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 ILO Unemployment Rate; Average Earnings; Claimant Count Change; Claimant Count Rate
- 5:30am EST– UK BOE Releases Quarterly Inflation Report
- 8:30am EST– US PPI; Empire State Survey
- 9:15am EST- US Capacity Utilization; Industrial Production
- 10:00am EST– US NAHB Builders Survey
Today’s Surf
2:00am 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 signal. I entered at the close of the candle at 1.5217 with a stop at the most recent swing high at 1.5236. Since I was 17 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5200.
Entry: Short at 1.5217; Stop: 1.5236; Target: 1.5200
3:00am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.5202. (+15 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 negative. This was a valid signal. I entered at the close of the candle at 1.5221 with a stop at the most recent swing high at 1.5272. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5200.
Entry: Short at 1.5221; Stop: 1.5272; Target: 1.5200
7:00am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.5203. (+18 pips)
10:30am 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 signal. I entered at the close of the candle at 1.5211 with a stop at the most recent swing high at 1.5267. Since I was 11 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5200.
Entry: Short at 1.5211; Stop: 1.5267; Target: 1.5200
11:30am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.5201. (+10 pips)
Trade Result: +15 +18 +10= +43 pips R-Multiple: 0.78; 0.35; 0.17
News events to watch for Thursday:
- 8:30am EST– US Building Permits; Housing Starts; Initial Claims; CPI
- 10:00am EST– US Philly Fed Index
For a complete list of news events check out our Forex Economic Calendar.
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