The trend was up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 2:00am EST- UK Nationwide Housing Prices
- 8:30am EST– US Core PCE price index ; GDP Annualized ; Initial Claims
- 9:45am EST– US Chicago PMI
3:00am 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 1.5855 with a stop at the most recent swing low at 1.5812. Since I was 45 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5900.
Entry: Long at 1.5855 Stop: 1.5812 Target: 1.5900
5:00am EST- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.5895. (+40 pips)
Trade Result: +40 pips (Not including spread) R-Multiple: 0.93
News events to watch for Friday:
- 4:30am EST- UK CIPS Manufacturing PMI
- 8:30am EST– US Core PCE price index
- 9:55am EST– US Univ of Mich Sentiment
- 10:00am EST– US Construction Spending ; ISM Manufacturing