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 Retail Sales
- 10:00am EST– US Existing Home Sales
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 went from negative to positive. This was a valid entry.
The entry was at the close of the candle at 1.3523 with a stop at the most recent swing low at 1.3509. Since I was 27 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3550.
Entry: Long at 1.3523 Stop: 1.3509 Target: 1.3550
4:15am EST– 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 1.3530. (+7 pips)
9:30am EST– Didn’t consider this possible signal because news was coming out at 10:00am EST.
Trade Result: +7 pips R-Multiple: 0.50
News events to watch for Thursday:
- 4:30am EST– UK Public Sector Net Borrowing
- 8:30am EST– US Philly Fed Survey
- 9:00am EST– US FHFA House Price Index
For a complete list of news events check out our Forex Economic Calendar.
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