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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 :
- 7:00am EST– UK BOE MPC Base Rate
- 8:30am EST– US Trade Balance; Initial Claims
Today’s Surf
2:145am 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 1.5206 with a stop at the most recent swing low at 1.5189. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5250.
Entry: Long at 1.5206 Stop: 1.5189 Target: 1.5250
5:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.5248. (+42 pips)
Trade Result: +42 pips R-Multiple: 2.47
News events to watch for Friday:
- 4:30am EST– UK Trade Balance
- 8:30am EST– US NFP
For a complete list of news events check out our Forex Economic Calendar.
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