Main Trend
Current Trend
The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today:
- 8:15am EST– US ADP National Employment Report
- 8:30am EST- US GDP
Today’s Surf
1:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.
The entry was at the close of the candle at 1.3250 with a stop at the most recent swing high at 1.3258. Since I was 50 pips away from the nearest 50 or 00 level, I put my initial target at 1.3200.
Entry: Short at 1.3250 Stop: 1.3258 Target: 1.3200
1:45am EST– Unfortunately I was stopped out of my trade. (-8 pips)
5:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.
The entry was at the close of the candle at 1.3267 with a stop at the most recent swing high at 1.3292. Since I was 17 pips away from the nearest 50 or 00 level, I put my initial target at 1.3250.
Entry: Short at 1.3267 Stop: 1.3292 Target: 1.3250
7:00am EST– Unfortunately I was stopped out of my trade. (-25 pips)
10:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out my signal and I did not enter.
Trade Result: -8 -25= -33 pips R-Multiple: -1.00; -1.00
News events to watch for Thursday:
- 4:30am EST– UK BOE Mortgage Approvals
- 8:30am EST– US Core PCE Price Index
- 9:45am EST- US Chicago PMI
- 10:00am EST– US Pending Home Sales
For a complete list of news events check out our Forex Economic Calendar.
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