The trend stayed up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST- UK Total Trade Balance
- 8:30am EST– US Trade Balance
3:45am EST– There was a valid signal here but because it was right before a news report, I did not enter.
9:45am 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 1.6155 with a stop at the most recent low at 1.6140. Since I was 45 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6200.
Entry: Long at 1.6155 Stop: 1.6140 Target: 1.6200
12:30pm EST– I manually exited my trade at 1.6172.
Trade Result: +17 pips (NOT INCLUDING SPREAD) R-Multiple: 1.13
News events to watch for tomorrow:
- 4:30am EST- UK Manufacturing Production m/m
- 10:30am EST- US Crude Oil Inventories
- 2:00pm EST– US Beige Book