Main Trend
Current Trend
The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- 8:30am EST– US PPI
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 1.3014 with a stop at the most recent swing low at 1.2998. Since I was 36 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3050.
Entry: Long at 1.3014 Stop: 1.2998 Target: 1.3050
2:45am EST– Unfortunately I was stopped out of my trade. (-16 pips)
9:00am 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 1.3015 with a stop at the most recent swing low at 1.2978. Since I was 35 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3050.
Entry: Long at 1.3015 Stop: 1.2978 Target: 1.3050
11:45am EST– Unfortunately my target wasn’t hit by this time. Since 12noon EST was approaching, I decided to manually exit my trade. I got out at 1.3027. (+12 pips)
Trade Result: -16 +12= -4 pips R-Multiple: -1.00; 0.32
News events to watch for Thursday:
- 7:00am EST– UK BOE Bank Rate
- 8:30am EST– US CPI
For a complete list of news events check out our Forex Economic Calendar.
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