Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 7:00am EST- BOE Interest Rate Statement
- 8:30am EST- US Trade Balance; Unemployment Claims
3:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.9764 with a stop at the most recent swing low at 1.9722. Since I was 36 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9800.
Entry: Long at 1.9764
Initial Target: 1.9800
5:00am EST– My target was hit. Even though price made a clean break I still took my final profit. (See video for explanation). I exited at 1.9822.
8:15am EST– There was a valid signal here but because it was right before news, I did not enter.
10:15am EST– There was almost a signal here but stochastics had not crossed up which cancelled out the signal. This actually saved us because this trade would’ve been a loser.
Trade Result: +58 pips: R-Multiple: 1.38
News events to watch for tomorrow :