Current Trend= The trend remained up the entire day
Today I only looked for long trades
News events to watch for today :
- 8:30am EST– US Unemployment Claims
- 10:00am EST– US Philadelphia Fed Index
1:00am EST– There was almost a signal here but MACD was already positive. This cancelled out the signal and I did not enter.
3:30am 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 1.9729 with a stop at the most recent swing low at 1.9690. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9750.
Entry: Long at 1.9729
Initial Target: 1.9750
4:45am EST– My target was hit. Price did not make a clean break of my target so I took my final profit. I exited at 1.9748.
Trade Result: +19 pips : R-Multiple: 0.48
News events to watch for tomorrow :