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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 :
- 9:00am EST– US S&P Case Chiller Home Price
- 10:00am EST– US Consumer Confidence
Today’s Surf
1:30am 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 1.5452 with a stop at the most recent swing low at 1.5431. Since I was 48 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5500.
Entry: Long at 1.5452 Stop: 1.5431 Target: 1.5500
8:00am EST– Unfortunately I was stopped out of my trade. (-21 pips)
10:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out my signal and I did not enter.
Trade Result: -21 pips R-Multiple: -1.00
News events to watch for Wednesday:
- 4:30am EST– UK BBA Mortgage Approvals
- 10:00am EST– US New Home Sales
For a complete list of news events check out our Forex Economic Calendar.
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