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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 :
- None
Today’s Surf
4:00am 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 entry.
The entry was at the close of the candle at 1.5704 with a stop at the most recent swing low at 1.5687. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5750.
Entry: Long at 1.5704 Stop: 1.5687 Target: 1.5750
8:00am EST – Unfortunately I was stopped out of my trade. (-17 pips)
9:00am 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 entry.
The entry was at the close of the candle at 1.5707 with a stop at the most recent swing low at 1.5685. Since I was 43 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5750.
Entry: Long at 1.5707 Stop: 1.5685 Target: 1.5750
11:45am EST – My target wasn’t hit by this time. Since it was about to be 12 noon EST, I decided to manually exit my trade. I got out at 1.5736. (+29 pips)
Trade Result: -17 +29= +12 pips R-Multiple: -1.00; 1.31
News events to watch for Wednesday:
- 4:30am EST– UK Claimant Count Rate; Average Earnings; Claimant Count Change; ILO Unemployment Rate
- 10:00am EST– US Wholesale Inventories
- 11:30am EST– UK FTSE Index Quarterly Rebalance
For a complete list of news events check out our Forex Economic Calendar.
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