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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 :
- 4:30am EST– UK GDP
- 8:30am EST– US Durable Goods
- 9:00am EST– US S&P Case-Shiller Home Price
- 10:00am EST– US New Home Sales
Today’s Surf
1:45am 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 1.5106 with a stop at the most recent swing low at 1.5088. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5150.
Entry: Long at 1.5106 Stop: 1.5088 Target: 1.5150
2:15am EST– Unfortunately I was stopped out of my trade. (-18 pips)
3:45am EST– No entry here because it was right before a news event.
7:00am 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 1.5105 with a stop at the most recent swing low at 1.5058. Since I was 45 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5150.
Entry: Long at 1.5105 Stop: 1.5058 Target: 1.5150
8:15am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 8:30am EST, I decided to manually exit my trade. I got out at 1.5140. (+35 pips)
Trade Result: -18 +35= +17 pips R-Multiple: -1.00; 0.74
News events to watch for Wednesday:
- None
For a complete list of news events check out our Forex Economic Calendar.
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