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 Trade Balance
- 10:00am EST– US ISM Non Manufacturing
Today’s Surf
1:15am 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 1.3035 with a stop at the most recent swing low at 1.3029. Since I was 15 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.3050.
Entry: Long at 1.3035 Stop: 1.3029 Target: 1.3050
2:30am EST– Unfortunately I was stopped out of my trade. (-6 pips)
4:00am 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 1.3039 with a stop at the most recent swing low at 1.3017. Since I was 11 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.3050.
Entry: Long at 1.3039 Stop: 1.3017 Target: 1.3050
6:30am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.3049. (+10 pips)
Trade Result: -6 +10= +4 pips R-Multiple: -1.00; 0.45
News events to watch for Thursday:
- 8:30am EST– US Unemployment Claims
For a complete list of news events check out our Forex Economic Calendar.
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