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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 :
- None
Today’s Surf
1:45am 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 1.9573 with a stop at the most recent swing low at 1.9555. Since I was 27 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9600.
Entry: Long at 1.9573
Stop: 1.9555
Initial Target: 1.9600
2:00am EST– Unfortunately I was stopped out of my trade.
4:00am 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 1.9591 with a stop at the most recent swing low at 1.9539. Since I was only 9 pips away from the nearest 50 or 00 level (1.9600), I decided to go for the same amount of pips I was risking on the trade, which in this case was 52. This put my target at 1.9643.
Entry: Long at 1.9591
Stop: 1.9539
Initial Target: 1.9643
8:00am EST– Unfortunately I was stopped out of my trade.
Trade Result: -18 -52= -70 pips : R-Multiple: -1.00; -1.00
News events to watch for Monday :
- 8:30am EST- US PPI
For a complete list of news events check out our News Section