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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:
- 9:00am EST– US S&P Case Shiller Home Price
- 10:00am EST– US Consumer Confidence
Today’s Surf
12:45am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.
The entry was at the close of the candle at 1.2216 with a stop at the most recent swing high at 1.2232. Since I was 16 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.2200.
Entry: Short at 1.2216 Stop: 1.2232 Target: 1.2200
1:15am EST– Unfortunately I was stopped out of my trade. (-16 pips)
2:45am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out the signal and I did not enter.
4:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out the signal and I did not enter.
7:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out the signal and I did not enter.
7:45am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out the signal and I did not enter.
Trade Result: -16 pips R-Multiple: -1.00
News events to watch for Wednesday:
- 10:00am EST- US New Home Sales
For a complete list of news events check out our Forex Economic Calendar.
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