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:
- 7:15am EST– US Fed Quarles Speaks In Frankfurt
- 8:30am EST– US Unemployment Claims
- 9:30am EST– US Fed Clarida Speaks in Paris
- 10:00am EST– US Pending Home Sales
- 11:30am EST– US Fed Bostic Speaks in Atlanta
Today’s Surf
2:45am 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 1.3188 with a stop at the most recent swing high at 1.3197. Since I was 38 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3150.
Entry: Short at 1.3188 Stop: 1.3197 Target: 1.3150
4:00am EST– My target was hit. Price made a clean break so I moved my stop to 1.3150 and set my next target for 1.3100.
4:45am EST– Unfortunately I got stopped out my original target at 1.3150. (+38 pips)
Trade Result: +38 Pips R-Multiple: 4.22
News events to watch for Friday:
- 5:30am EST– UK GDP
- 8:30am EST– US PCE Core
- 9:25am EST– US Fed Williams Speaks
- 9:45am EST– US Chicago PMI
- 10:00am EST– US New Home Sales
- 10:30am EST– US Fed Kaplan Speaks
For a complete list of news events check out our Forex Economic Calendar.
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