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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 CPI
Today’s Surf
1:45am 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 1.2675 with a stop at the most recent swing low at 1.2663. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2700.
Entry: Long at 1.2675 Stop: 1.2663 Target: 1.2700
2:30am EST– Unfortunately I was stopped out of my trade. (-12 pips)
3:00am 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 1.2675 with a stop at the most recent swing low at 1.2659. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2700.
Entry: Long at 1.2675 Stop: 1.2659 Target: 1.2700
4:15am EST– My target was hit. News was coming out at 4:30am EST and I was going to close my trade regardless. I decided to grab as many pips as I could and exited at 1.2704. (+29 pips)
Trade Result: -12 +29= +17 pips R-Multiple: -1.00; 1.81
News events to watch for Wednesday:
- 4:30am EST– UK Claimant Count Rate
- 8:30am EST– US PPI
- 9:15am EST– US Industrial Production
- 10:00am EST– US Business Inventories
For a complete list of news events check out our Forex Economic Calendar.
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