The trend was up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST- UK Claimant Count; ILO Unemployment Rate; Average Earnings
- 8:30am EST- US Housing Starts ; Building Permits
The entry was at the close of the candle at 1.6004 with a stop at the most recent swing low at 1.5944. Since I was 46 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.6050.
Entry: Long at 1.6004 Stop: 1.5944 Target: 1.6050
8:15am EST- Unfortunately my target wasn’t hit by this time. Since news was coming out at 8:30am EST I decided to manually exit my trade. I exited at 1.6016. (+12 pips)
Trade Result: +12 pips R-Multiple: 0.20