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 Claimant Count Change
- 8:30am EST– US PPI
Today’s Surf
2:00am 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 1.3306 with a stop at the most recent swing low at 1.3299. Since I was 44 pips away from the nearest 50 or 00 level, I set my target at 1.3350.
Entry: Long at 1.3306 Stop: 1.3299 Target: 1.3350
2:15am EST– Unfortunately I was stopped out of my trade. (-7 pips)
2:30am 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 1.3308 with a stop at the most recent swing low at 1.3297. Since I was 42 pips away from the nearest 50 or 00 level, I decided to put my target at 1.3350.
Entry: Long at 1.3308 Stop: 1.3297 Target: 1.3350
4:15am EST– Unfortunately I was stopped out of my trade. (-11 pips)
7:45am EST– I didn’t consider this possible signal since it was right before the 8:30am EST news event.
Trade Result: -7 -11= -18 pips R-Multiple: -1.00; -1.00
News events to watch for Thursday:
- 4:30am EST– UK Retail Sales
- 7:00am EST– UK BOE Bank Rate
- 8:30am EST– US CPI
For a complete list of news events check out our Forex Economic Calendar.
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