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
2:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry.
The entry was at the close of the candle at 1.3130 with a stop at the most recent swing low at 1.3106. Since I was 20 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3150.
Entry: Long at 1.3130 Stop: 1.3106 Target: 1.3150
3:30am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.3149. (+19 pips)
10:00am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry.
The entry was at the close of the candle at 1.3154 with a stop at the most recent swing low at 1.3117. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.
Entry: Long at 1.3154 Stop: 1.3117 Target: 1.3200
11:45am EST– My target wasn’t hit by this time. Since it was approaching 12 noon EST, I decided to manually close out my trade. I got out at 1.3147. (-7 pips)
Trade Result: +19 -7= +12 pips R-Multiple: 0.79; -0.18
News events to watch for Thursday:
- 8:30am EST– US Unemployment Claims
For a complete list of news events check out our Forex Economic Calendar.
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