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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 Trade Balance
- 7:00am EST– UK BOE Minutes Released
- 8:30am EST– US Initial Claims
Today’s Surf
2:15am 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 1.5181 with a stop at the most recent swing low at 1.5170. Since I was 19 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5200.
Entry: Long at 1.5181 Stop: 1.5170 Target: 1.5200
3:15am EST– Unfortunately I was stopped out of my trade. (-11 pips)
4:15am EST– Didn’t consider this possible signal because it was right before a news candle.
9:15am 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 1.5169 with a stop at the most recent swing low at 1.5110. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5200.
Entry: Long at 1.5169 Stop: 1.5110 Target: 1.5200
3:15am EST– Unfortunately my target wasn’t hit by this time. Since it was already 12 noon EST, I decided to manually exit my trade. I got out at 1.5179. (+10 pips)
Trade Result: -11 +10= -1 pip R-Multiple: -1.00; 0.16
News events to watch for Friday:
- 8:30am EST– US PPI
- 10:00am EST– US Business Inventories
For a complete list of news events check out our Forex Economic Calendar.
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