Main Trend
Current Trend
The trend was DOWN until the entire day today.
Today I only looked for short trades.
News events to watch for today:
- None
Today’s Surf
1:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.
The entry was at the close of the candle at 1.2950 with a stop at the most recent swing high at 1.2958. Since I was 50 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2900.
Entry: Short at 1.2950 Stop: 1.2958 Target: 1.2900
3:30am EST– Unfortunately I was stopped out of my trade. (-8 pips)
6:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.
The entry was at the close of the candle at 1.2948 with a stop at the most recent swing high at 1.2966. Since I was 48 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2900.
Entry: Short at 1.2948 Stop: 1.2966 Target: 1.2900
8:00am EST– Unfortunately I was stopped out of my trade. (-18 pips)
10:45am EST– Didn’t consider this possible signal because it was close to 12 noon EST.
Trade Result: -8 -18= -26 pips R-Multiple: -1.00; -1.00
News events to watch for Thursday:
- 8:30am EST– US Unemployment Claims
- 9:45am EST– US Chicago PMI
For a complete list of news events check out our Forex Economic Calendar.
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