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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:
- 9:00am EST– US FHFA House Price Index
- 10:00am EST– US Existing Home Sales
Today’s Surf
12:45am 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 1.2475 with a stop at the most recent swing low at 1.2463. Since I was 25 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.2500.
Entry: Long at 1.2475 Stop: 1.2463 Target: 1.2500
2:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.2498. (+23 pips)
4:15am 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 1.2484 with a stop at the most recent swing low at 1.2465. Since I was 16 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.2500.
Entry: Long at 1.2484 Stop: 1.2465 Target: 1.2500
4:45am EST– Unfortunately I was stopped out of my trade. (-19 pips)
11:00am EST– Didn’t consider this possible signal because it was close to 12 noon EST. No entry.
Trade Result: +23 -19= +4 pips R-Multiple: 1.91; -1.00
News events to watch for Thursday:
- 5:30am EST– UK Retail Sales
- 7:00am EST– UK CBI Distributive Trades
- 8:30am EST– US Initial Claims
- 10:00am EST– US New Home Sales
For a complete list of news events check out our Forex Economic Calendar.
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