The trend was up the entire day.
Today I only looked for long trades.
News events to watch for today :
The entry was at the close of the candle at 1.6439 with a stop at the most recent swing low at 1.6408. Since I was only 11 pips away from the nearest 50 or 00 level (1.6450), I decided to go for the same amount of pips I was risking on the trade, which in this case was 31 pips. This put my initial target at 1.6470.
Entry: Long at 1.6439 Stop: 1.6408 Target: 1.6470
4:15am EST- Unfortunately I was stopped out of my trade. (-31 pips)
Trade Result: -31 pips R-Multiple: -1.00
News events to watch for Tuesday:
- 10:00am EST- US IBD Consumer Optimism