Main Trend
Current Trend
The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today:
- 9:30am EST– US Fed Kashkari Speaks
Today’s Surf
3:00am 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 1.2941 with a stop at the most recent swing high at 1.2967. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2900.
Entry: Short at 1.2941 Stop: 1.2967 Target: 1.2900
2:45am EST– Unfortunately I was stopped out of my trade. (-26 pips)
9:45am 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: -26 pips R-Multiple: -1.00
News events to watch for Wednesday:
- 9:00am EST– US FHFA House Price Index
- 9:15am EST– US Fed Kashkari Speaks
- 10:00am EST– US New Home Sales
For a complete list of news events check out our Forex Economic Calendar.
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