Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
2:15 am ET– 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 which was at 2.0530 with a stop at the most recent swing low at 2.0512. Since I was 20 pips away from the nearest 50 level I decided to set my target at 2.0550.
4:15 am ET– At this time my target still isn’t hit and I know that Retail Sales are coming out at 4:30 am ET. I was also only down 3 pips at the time so I decided to minimize my losses and manually exited my trade.
Trade Result: -3 pips; R-Multiple= -0.17