Main Trend
Current Trend
The trend was down the entire day.
Today I only looked for short trades.
News events to watch for today:
- 8:30am EST- US Trade Balance
- 9:15am EST– US Fed Williams Speaks
- 10:00am EST– US Fed Harker Speaks
Today’s Surf
1:45am 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 1.3236 with a stop at the most recent swing high at 1.3249. Since I was 36 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.
Entry: Short at 1.3236 Stop: 1.3249 Target: 1.3200
3:00am EST– My target was hit. Price made a clean break so I moved my stop to 1.3200 and set my next target for 1.3150.
3:15am EST– Unfortunately I was stopped out at my original target at 1.3200. (+36 pips)
Trade Result: +36 pips R-Multiple: 2.76
News events to watch for Friday:
- 8:30am EST– US NFP
- 9:15am EST– US Fed Bostic Speaks
- 11:45am EST– US Fed Rosengren Speaks
For a complete list of news events check out our Forex Economic Calendar.
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