If this is your first time visiting this blog, read this first!
Sorry I didn’t have enough time to make a video dudes!
Main Trend
Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
News events to watch for today :
Today’s Surf
12:00am 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 1.9945 with a stop at the most recent swing high at 1.9968. Since I was 45 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9900.
Entry: Short at 1.9945
Stop: 1.9968
Initial Target: 1.9900
1:45am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.9902.
7:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.9856 with a stop at the most recent swing high at 1.9905. Since I was only 6 pips away from the nearest 50 or 00 level (1.9850), I decided to go for the same amount of pips I was risking on the trade which in this case was 49. This put my initial target at 1.9807.
Entry: Short at 1.9856
Stop: 1.9905
Initial Target: 1.9807
10:00am EST– Unfortunately I was stopped out of my trade.
11:15am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.9865 with a stop at the most recent swing high at 1.9943. Since I was 15 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.9850.
Entry: Short at 1.9865
Stop: 1.9943
Initial Target: 1.9850
11:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.9853.
Trade Result: +43 -49 +12= +6 pips; R-Multiple: 1.87; -1.00, 0.15
News events to watch for tomorrow :
- 4:30am EST– UK Manufacturing PMI
- 10:00am EST– US ISM Manufacturing Index