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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 Retail Sales
- 8:30am EST– US CPI
- 10:00am EST– US Philly Fed Survey
Today’s Surf
3:15am 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 1.5848 with a stop at the most recent swing low at 1.5805. Since I was only 2 pips away from the nearest 50 or 00 level (1.5850), I decided to go for the same amount of pips I was risking on the trade, which in this case was 43. This put my initial target at 1.5891.
Entry: Long at 1.5848 Stop: 1.5805 Target: 1.591
3:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.5886 (+38 pips)
Trade Result: +38 pips R-Multiple: 0.88
News events to watch for Friday:
- N/A
For a complete list of news events check out our Forex Economic Calendar.
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