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Main Trend- Monday 11/19/07
Current Trend= The trend remained up the entire day.
On Monday, I only looked for long trades.
Today’s Surf
12:45am EDT– 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 2.0549 with a stop at the most recent swing low at 2.0515. Since I was only 1 pip away from the nearest 50 or 00 level (2.0550), I decided to go for the same amount of pips I was risking, which in this case was 34. This put my initial target at 2.0583.
Entry: Long at 2.0549
Stop: 2.0515
Initial Target: 2.0583
2:00am EDT– Unfortunately I was stopped out of my trade.
5:45am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending, but MACD was already positive. This cancelled out the signal and I did not enter.
8:15am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending, but MACD was already positive. This cancelled out the signal and I did not enter.
Trade Result: -34 pips; R-Multiple: -1.00
Main Trend- Tuesday 11/20/07
Current Trend= The trend remained down until 3am EDT. From 11pm – 3am EDT, a new trend change candle formed and changed the trend from down to UP. After 3am EDT, the trend remained up the rest of the day.
On Tuesday, I only looked for short trades until 3am EDT. After 3am EDT, I only looked for long trades.
Today’s Surf
8:30am EDT– 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 2.0635 with a stop at the most recent swing low at 2.0590. Since I was 15 pips away from the nearest 50 or 00 level, I decided to put my initial target at 2.0650.
Entry: Long at 2.0635
Stop: 2.0590
Initial Target: 2.0650
8:45am EDT– My target was hit. Price did not make a clean break of my target so I took my final profitg at 2.0650.
10:30am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, MACD was negative and gaining value, but stochastics were trending down. This cancelled out the signal and I did not enter.
Trade Result: +15 pips; R-Multiple: 0.33
Main Trend- Wednesday 11/21/07
Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
Today’s Surf
8:30am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive. This cancelled out the signal and I did not enter.
11:30am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive. This cancelled out the signal and I did not enter.
Trade Result: +0 pips; R-Multiple: 0
So I’m like totally ready to scarf down some turkey! I will be taking a break from trading tomorrow and Friday and will start catching waves again bright and early on Monday. Have a totally bodacious Thanksgiving everyone!