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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:
- 4:30am EST– UK Public Borrowing
- 10:00am EST– US New Home Sales
- 10:30am EST– UK Hammond Speaks
Today’s Surf
2:00am 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 1.2982 with a stop at the most recent swing high at 1.2997. Since I was 32 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2950.
Entry: Short at 1.2982 Stop: 1.2997 Target: 1.2950
3:00am EST– Unfortunately I was stopped out of my trade. (-15 pips)
4:00am EST– Didn’t consider this possible signal because it was right before the 4:30am EST news event.
6:00am 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 1.2976 with a stop at the most recent swing high at 1.2997. Since I was 26 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2950.
Entry: Short at 1.2976 Stop: 1.2997 Target: 1.2950
9:45am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 10:00am EST, I decided to manually exit my trade. I got out at 1.2984. (-8 pips)
10:15am EST– Didn’t consider this possible signal because it was right before the 10:30am EST news event.
Trade Result: -15 -8= -23 pips R-Multiple: -1.00; -0.38
News events to watch for Wednesday:
- 10:00am EST– US Existing Home Sales
For a complete list of news events check out our Forex Economic Calendar.
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