Current Trend= The trend remained up the entire day.
On Friday I only looked for long trades.
5:30 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 2.0362 with a stop at the most recent swing low at 2.0350. Since I was 38 pips away from the nearest 00 level I set my target for 2.0400.
Entry: Long at 2.0362
Initial Target: 2.0400
6:15 am ET– Unfortunately I was stopped out at 2.0350 for a 12 pip loss.
8:30 am ET– There was a valid signal here but it was caused by a news event (NFP). Since this was the case I did not enter the trade.
Trade Result: -12 pips ; R-Multiple: -1.00