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Main Trend
Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
News events to watch for today :
- 4:30am EST– UK Retail Sales
- 8:30am EST- US Durable Goods Orders
- 10:00am EST– US New Home Sales
Today’s Surf
12:45am 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 1.9791 with a stop at the most recent swing high at 1.9801. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9750.
Entry: Short at 1.9791
Stop: 1.9801
Initial Target: 1.9750
2:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.9752.
Trade Result: +39 pips : R-Multiple: 3.90
News events to watch for tomorrow :
- 4:30am EST– UK GDP
- 10:00am EST- US Consumer Sentiment