The trend was down the entire day.
Today I only looked for short trades.
News events to watch for today :
- 4:30am EST- UK Public Borrowing
- 7:30am EST- UK CBI Quarterly Distributive Trades
- 10:00am EST- US New Home Sales
The entry was at the close of the candle at 1.6075 with a stop at the most recent swing high at 1.6124. Since I was 25 pips away from the nearest 50 or 00 level I decided to put my target at 1.6050.
Entry: Short at 1.6075 Stop: 1.6124 Target: 1.6050
3:00am EST- Unfortunately I was stopped out of my trade. (-49 pips)
Trade Result: -49 pips R-Multiple: -1.00