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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 :
- 8:15am EST– US ADP Employment Survey
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 was negative and gaining value.
The entry was at the close of the candle at 1.4378 with a stop at the most recent swing low at 1.4369. Since I was 22 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4400.
Entry: Long at 1.4378 Stop: 1.4369 Target: 1.4400
2:00am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4398. (+20 pips)
7:15am 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.
The entry was at the close of the candle at 1.4411 with a stop at the most recent swing low at 1.4378. Since I was 39 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4450.
Entry: Long at 1.4411 Stop: 1.4378 Target: 1.4450
8:00am EST– My target wasn’t hit by this time. Since news was coming out at 8:15am EST, I decided to manually exit my trade. I got out at 1.4420. (+9 pips)
Trade Result: +20 +9= +29 pips R-Multiple: 2.22; 0.27
News events to watch for Thursday:
- 4:30am EST– UK GDP
- 8:30am EST– US Initial Claims
- 9:45am EST- US Chicago PMI
For a complete list of news events check out our Forex Economic Calendar.
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