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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 :
- 8:30am EST- US Housing Starts
- 10:00am EST– US Consumer Sentiment
Today’s Surf
3:00am 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 1.9506 with a stop at the most recent swing low at 1.9452. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9550.
Entry: Long at 1.9506
Stop: 1.9452
Initial Target: 1.9550
8:15am EST– My target wasn’t hit by this time and I knew that news was coming up at 8:30am EST, so I closed out my trade. I exited at 1.9487.
9:45am EST– There was a good signal here, but because it was right before the consumer sentiment report I did not enter.
Trade Result: -19 pips : R-Multiple: -0.35
News events to watch for Monday :
For a complete list of news events check out our News Section