Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
7:30am EDT- 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 1.9832 with a stop at the most recent swing high at 1.9864. Since I was 32 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9800.
Entry: Short at 1.9832
Initial Target: 1.9800
8:15am EDT- My target was hit. Price did not make a clean break of my target so I took my final profit. I was able to get out at 1.9802.
Trade Result: +30 pips; R-Multiple: 0.93
News events to watch for tomorrow :
- 8:15am EDT- US ADP Employment Change
- 8:30am EDT- US Unemployment Claims