Main Trend
Current Trend
The trend was UP until the entire day today.
Today I only looked for long trades.
News events to watch for today:
- 8:30am EST– US Philly Fed Survey
- 10:00am EST– UK BOE Carney Speaks
- 10:45am EST– US Fed Quarles discussion
Today’s Surf
12:45am 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 1.2877 with a stop at the most recent swing low at 1.2863. Since I was 23 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2900.
Entry: Long at 1.2877 Stop: 1.2863 Target: 1.3900
2:00am EST– Unfortunately I was stopped out of my trade. (-14 pips)
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 1.2872 with a stop at the most recent swing low at 1.2831. Since I was 28 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2900.
Entry: Long at 1.2972 Stop: 1.2831 Target: 1.2900
6:15am EST– My target was hit. Price did not make a clean break so I took my final profit. I got out at 1.2898. (+26 pips)
Trade Result: -14 +26= +12 pips R-Multiple: -1.00; 0.63
News events to watch for Friday:
- 4:15am EST– US Industrial Production
- 4:30am EST– UK Retail Sales
- 9:05am EST– US Fed Williams Speaks
- 9:15am EST– US Capacity Utilization Rate
- 10:00am EST– US UoM Consumer Sentimetn
- 11:00am EST– US Fed Harker Speaks
For a complete list of news events check out our Forex Economic Calendar.
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