Current Trend= The trend remained down the entire day.
Today I only looked for short trades
News events to watch for today :
- 10:00am EST- US Existing Home Sales
1:15am EST- 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 1.9791 with a stop at the most recent swing high at 1.9822. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9750.
Entry: Short at 1.9791
Initial Target: 1.9750
2:30am EST- My target was hit. Price didn’t make enough of a clean break for me to continue on, so I took my final profit. I exited at 1.9749.
Trade Result: +42 pips : R-Multiple: 1.35
News events to watch for tomorrow :
- 4:30am EST- MPC Meeting Minutes