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Main Trend
Current Trend
The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :
- 7:00am EST– UK BOE Base Rate
- 8:30am EST– US Initial Claims
Today’s Surf
1:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.
The entry was at the close of the candle at 1.5380 with a stop at the most recent swing high at 1.5389. Since I was 30 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5350.
Entry: Short at 1.5380 Stop: 1.5389 Target: 1.5350
2:45am EST– Unfortunately I was stopped out of my trade. (-9 pips)
4:45am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.
The entry was at the close of the candle at 1.5379 with a stop at the most recent swing high at 1.5401. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5350.
Entry: Short at 1.5379 Stop: 1.5401 Target: 1.5350
6:45am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 7:00am EST, I decided to manually exit my trade. I got out at 1.5385. (-6 pips)
Trade Result: -9 -6= -15 pips R-Multiple: -1.00; -0.27
News events to watch for Friday:
- 4:30am EST– UK Trade Balance
- 8:30am EST– US NFP
- 10:00am EST– UK NIESR GDP Est.
For a complete list of news events check out our Forex Economic Calendar.
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