Current Trend= The trend remained up until 12pm ET. A new trend change candle formed from 8am – 12 pm ET and changed the trend from up to DOWN. After 12pm ET the trend remained down.
Today I only looked for long trades until 12pm ET. After 12pm ET I only looked for short trades.
1:15 am ET – 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 which was at 9637 with a stop at the most recent swing low which was 9623. I was only 13 pips away from the nearest 50 level and my risk was only 14 pips so either target I chose would still only give me a small reward. I went ahead and set my target for 9650.
2:30 pm ET – My target is hit for a small gain. I didn’t see too much price action so I went ahead and exited my trade.
Trade Result: +13 pips ; R-Multiple= 1.00