The trend was up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 10:00am EST- US FHFA House Price Index
5:30am 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 1.5690 with a stop at the most recent swing low at 1.5615. Since I was only 10 pips away from the nearest 50 or 00 level at 1.5700 I decided to go for the same amount of pips I was risking on the trade, which in this case was 75. This put my initial target at 1.5765.
Entry: Long at 1.5690 Stop: 1.5615 Target: 1.5765
8:15am EST- Unfortunately I was stopped out of my trade. (-75 pips)
9:30am EST- There was a valid signal here but because it was right before the 10:00am EST news I did not enter.
Trade Result: -75 pips (Not including spread) R-Multiple: -1.00