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Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST- UK Retail Sales
- 8:30am EST- US Unemployment Rate
2:45am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. 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 low at 1.9697. Since I was 16 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9750.
Entry: Long at 1.9734
Initial Target: 1.9750
3:00am EST- My target is hit. Price did not make a clean break so I took my final profit. I managed to get out at 1.9745.
4:30am EST- There was a signal here but because it was a news candle, I did not enter.
Trade Result: +11 pips : R-Multiple: 0.29
News events to watch for Monday :
- 4:30am EST- UK Revised GDP
- 10:00am EST- US Existing Home Sales
For a complete list of news events check out our News Section