Main Trend
Current Trend
The trend was down the entire day.
Today I only looked for short trades.
News events to watch for today:
- None
Today’s Surf
1:00am 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 1.3248 with a stop at the most recent swing high at 1.3257. Since I was 48 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.
Entry: Short at 1.3248 Stop: 1.3257 Target: 1.3200
2:15am EST– Unfortunately I was stopped out of my trade. (-9 pips)
4:30am 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 1.3248 with a stop at the most recent swing high at 1.3287. Since I was 48 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.
Entry: Short at 1.3248 Stop: 1.3287 Target: 1.3200
11:45am EST– Unfortunately my target wasn’t hit by this time. Since it was approaching 12 noon EST, I decided to manually exit my trade. I got out at right at breakeven at 1.3248.
Trade Result: -9 +0= -9 pips R-Multiple: -1.00
News events to watch for Wednesday:
- 4:30am EST– UK Services PMI
- 8:15am EST– US ADP National Employment Report
- 10:00am EST– US ISM Non Manufacturing
For a complete list of news events check out our Forex Economic Calendar.
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