Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
12:45am EDT– 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 1.9734 with a stop at the most recent swing high at 1.9762. Since I was 34 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9700.
Entry: Short at 1.9734
Initial Target: 1.9700
2:00am EDT– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.9702.
Trade Result: +32 pips; R-Multiple: 1.14
News events to watch for Monday :
- 4:30am EDT- GBP Trade Balance
- 7:00am EDT- GBP Interest Rate Statement
- 8:30am EDT- US Unemployment Claims