If this is your first time visiting this blog, read this first!
Sorry dudes. No video today! I promise I’ll put one up when I have some time!
Main Trend
Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST- UK Services PMI
- 10:00am EST– US ISM Non-Manufacturing Composite
Today’s Surf
12:45am 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 1.9868 with a stop at the most recent swing low at 1.9849. Since I was 32 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9900.
Entry: Long at 1.9868
Stop: 1.9849
Initial Target: 1.9900
6:45am 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 1.9821 with a stop at the most recent swing low at 1.9775. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9850.
Entry: Long at 1.9821
Stop: 1.9775
Initial Target: 1.9850
8:15am EST– My chart software had some technical difficulties so I had to use a different chart to monitor my trade.
8:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.9848.
Trade Result: -19 +27 = +8 pips; R-Multiple: -1.00; 0.58
News events to watch for tomorrow :
- 8:30am EST- US Nonfarm Employment Change