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Main Trend
Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 5:30am EDT– UK Industrial Production, PPI Input
Today’s Surf
12:30am EDT– 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 2.0195 with a stop at the most recent swing low at 2.0178. Since I was only 5 pips away from the nearest 50 or 00 level (2.0200), I decided to go for the same amount of pips I was risking on the trade, which in this case was 17. This put my initial target at 2.0212.
Entry: Long at 2.0195
Stop: 2.0178
Initial Target: 2.0212
5:15am EDT– There was a valid signal here but because it was right before news, I did not enter.
Trade Result: -17 pips; R-Multiple: -1.00
News events to watch for tomorrow :
- 8:30am EDT- US Trade Balance