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 BOE Mortgage Approvals
- 8:30am EST– US GDP
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 was negative and gaining value. This was a valid entry.
The entry was at the close of the candle at 1.2959 with a stop at the most recent swing low at 1.2950. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3000.Entry: Long at 1.2959 Stop: 1.2950 Target: 1.3000
4:15am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 4:30am EST, I decided to manually exit my trade. I got out at 1.2985. (+26 pips)
9:00am 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 1.2972 with a stop at the most recent swing low at 1.2955. Since I was 28 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3000.
Entry: Long at 1.2972 Stop: 1.2955 Target: 1.3000
11:45am EST– Unfortunately my target wasn’t hit by this time. Since it was 12 noon EST, I decided to manually exit my trade. I got out at 1.2985. (+13 pips)
Trade Result: +26 +13= +39 pips R-Multiple: 2.88; 0.76
News events to watch for Friday:
- 4:30am EST– UK GDP
- 8:30am EST– US Core PCE Price Index
- 9:45am EST– US Chicago PMI
- 10:00am EST– US UoM Consumer Sentiment
For a complete list of news events check out our Forex Economic Calendar.
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