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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 Industrial Production
- 10:00am EST– UK NIESR GDP Est.
Today’s Surf
12:15am 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 1.4469 with a stop at the most recent swing low at 1.4461. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4500.
Entry: Long at 1.4469 Stop: 1.4461 Target: 1.4500
2:45am EST– Unfortunately I was stopped out of my trade. (-8 pips)
3:000am 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 1.4492 with a stop at the most recent swing low at 1.4449. Since I was only 8 pips away from the nearest 50 or 00 level (1.4500), 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 1.4535.
Entry: Long at 1.4492 Stop: 1.4449 Target: 1.4535
4:15am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 4:30am EST, I decided to cut my losses and exit my trade. I got out at 1.4475 (-17 pips)
Trade Result: -8 -17= -25 pips R-Multiple: -1.00; -0.39
News events to watch for Thursday:
- 8:30am EST– US Initial Claims
For a complete list of news events check out our Forex Economic Calendar.
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