Main Trend
Current Trend
The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- 10:00am EST– US New Home Sales
Today’s Surf
3:00am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry.
The entry was at the close of the candle at 1.3177 with a stop at the most recent swing low at 1.3161. Since I was 23 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.
Entry: Long at 1.3177 Stop: 1.3161 Target: 1.3200
3:30am EST– Unfortunately I was stopped out of my trade. (-16 pips)
5:00am 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 1.3174 with a stop at the most recent swing low at 1.3151. Since I was 26 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.
Entry: Long at 1.3174 Stop: 1.3151 Target: 1.3200
6:15am EST– Unfortunately I was stopped out of my trade. (-23 pips)
8:00am 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 1.3175 with a stop at the most recent swing low at 1.3137. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.
Entry: Long at 1.3175 Stop: 1.3137 Target: 1.3200
9:45am EST– Unfortunately my target wasn’t hit. News was coming out at 10:00am EST so I decided to manually exit my trade. I got out at 1.3160. (-14 pips)
Trade Result: -16 -23 -14= -53 pips R-Multiple: -1.00; -1.00; -0.36
News events to watch for Thursday:
- 8:30am EST– US Durable Goods
- 10:00am EST– US Pending Home Sales
For a complete list of news events check out our Forex Economic Calendar.
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