Main Trend
Current Trend
The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- None
Today’s Surf
1:00am 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 1.2771 with a stop at the most recent swing low at 1.2752. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2800.
Entry: Long at 1.2771 Stop: 1.2752 Target: 1.2800
3:00am EST– Unfortunately I was stopped out of my trade. (-19 pips)
3:45am 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 1.2777 with a stop at the most recent swing low at 1.2745. Since I was 23 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2800.
Entry: Long at 1.2777 Stop: 1.2745 Target: 1.2800
7:45am EST– Unfortunately I was stopped out of my trade. (-32 pips)
Trade Result: -19 -32= -51 pips R-Multiple: -1.00; -1.00
News events to watch for Wednesday:
- 8:30am EST– US Advanced Goods Trade Balance
- 9:00am EST– US Fed Evans Speaks
- 11:30am EST– US Fed Rosengren Speaks
For a complete list of news events check out our Forex Economic Calendar.
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