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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 Claimant Count Rate
Today’s Surf
1:00am 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 1.5569 with a stop at the most recent swing low at 1.5545. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5600.
Entry: Long at 1.5569 Stop: 1.5545 Target: 1.5600
3:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.5598. (+29 pips)
6:30am 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 1.5586 with a stop at the most recent swing low at 1.5536. Since I was 14 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5600.
Entry: Long at 1.5586 Stop: 1.5536 Target: 1.5600
7:15am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.5599. (+13 pips)
Trade Result: +29 +13= +42 pips R-Multiple: 1.20; 0.26
News events to watch for Thursday:
- 8:15am EST– US Initial Claims
- 8:30am EST– US Retail Sales
- 10:00am EST– US Business Inventories
For a complete list of news events check out our Forex Economic Calendar.
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