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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:
- 8:30am EST– US Initial Claims
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 was negative and gaining value. This was a valid entry.
The entry was at the close of the candle at 1.2486 with a stop at the most recent swing low at 1.2474. Since I was 14 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.2500.
Entry: Long at 1.2486 Stop: 1.2474 Target: 1.2500
3:00am EST– Unfortunately I was stopped out of my trade. (-12 pips)
3:45am 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 1.2485 with a stop at the most recent swing low at 1.2472. Since I was 15 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.2500.
Entry: Long at 1.2485 Stop: 1.2472 Target: 1.2500
4:15am EST– Unfortunately I was stopped out of my trade. (-13 pips)
Trade Result: -12 -13= -25 pips R-Multiple: -1.00; -1.00
News events to watch for Friday:
- 4:30am EST– UK Industrial Production
- 8:00am EST– UK NIESR GDP Est.
- 8:30am EST– US NFP
- 10:00am EST– US Wholesale Inventories
For a complete list of news events check out our Forex Economic Calendar.
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