The trend was up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST- UK Retail Sales
The entry was at the close of the candle at 1.6183 with a stop at the most recent swing low at 1.6147. Since I was 17 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6200.
Entry: Long at 1.6183 Stop: 1.6147 Target: 1.6200
2:45am EST- My target was hit. Price ended up closing right at 1.6200 so I went ahead and closed out my trade.
7:45, 10:00 am EST- There was a moving average crossover for a short trade. RSI was less than 50, MACD was negative and gaining value, but stochastics were still trending down. This cancelled out the signal and I did not enter.
Trade Result: +17 pips R-Multiple: 0.47
News events to watch for Monday: