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 m/m
- 8:30am EST– US Unemployment Claims
- 10:00am EST– US Philly Fed Manufacturing Index
2:15am 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 1.5784 with a stop at the most recent low at 1.5754. Since I was 16 pips away from the nearest 50 or 00 level, I put my initial target at 1.5800.
Entry: Long at 1.5784 Stop: 1.5754 Target: 1.5800
2:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I managed to exit at 1.5795.
8:15am EST- This was not a signal because MACD was already positive and it was right before news.
Trade Result: +11 pips (NOT INCLUDING SPREAD) R-Multiple: 0.36
News events to watch for tomorrow:
- 4:30am EST– UK Revised GDP q/q