The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :- 7:00am EST- UK BOE MPC Interest Rate Announcement
- 8:30am EST- US Trade Balance; Initial Claims
1:30am 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 1.5920 with a stop at the most recent swing high at 1.5937. Since I was 20 pips away from the nearest 50 or 00 level I put my initial target at 1.5900.
Entry: Short at 1.5920 Stop: 1.5937 Target: 1.5900
1:45am EST- My target was hit. Price didn't make a clean break so I took my final profit. I exited at 1.5902. (+18 pips)
5:45am 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 1.5919 with a stop at the most recent swing high at 1.5938. Since I was 19 pips away from the nearest 50 or 00 level I put my initial target at 1.5900.
Entry: Short at 1.5919 Stop: 1.5938 Target: 1.5900
6:45am EST- My target wasn't hit by this time. Since news was coming out at 7am EST, I decided to manually exit my trade. I closed at 1.5903. (+16 pips)
9:45am 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 1.5924 with a stop at the most recent swing high at 1.5984. Since I was 24 pips away from the nearest 50 or 00 level I put my initial target at 1.5900.
Entry: Short at 1.5924 Stop: 1.5984 Target: 1.5900
10:00am EST- My target was hit. Price didn't make a clean break so I took my final profit. I exited at 1.5900. (+24 pips)
Trade Result: +18 +16 +24= +58 pips R-Multiple: 1.05; 0.84; 0.40
News events to watch for Friday:- 9:55am EST- US Univ Of Mich. Sentiment
On Friday November 11th, 2011 at 07:51AM by thesmartmoney - Like - 0 People
Hi PipSurfer, in order to view your recent overall track record this link doesnt seem to work http://www.meetpips.com/members/PipSurfer/stats , please could you post up the correct link?
I got the above link off you blog on babypips on your system FAQ blog post.
ive been reading your blog posts with great interest, keep up the great work,
many thanks in advance
TSM (here in the not so sunny UK)
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