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 Services PMI
- 10:00am EST– US ISM Non Manufacturing
Today’s Surf
1:30am 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 1.3904 with a stop at the most recent swing low at 1.3880. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3950.
Entry: Long at 1.3904 Stop: 1.3880 Target: 1.3950
2:15am EST– Unfortunately I was stopped out of my trade. (-24 pips)
5:30am 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 1.3882 with a stop at the most recent swing low at 1.3845. Since I was 18 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3900.
Entry: Long at 1.3882 Stop: 1.3845 Target: 1.3900
9:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I got out at 1.3898. (+16 pips)
Trade Result: -24 +16= -8 pips R-Multiple: -1.00; 0.43
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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