The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 5:30am EST– UK Claimant Count Rate; Average Earnings; ILO Unemployment Rate
- 8:30am EST– US Current Account
9:00am 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 1.5711 with a stop at the most recent swing low at 1.5668. Since I was 39 pips away from the nearest 50 or 00 level I put my initial target at 1.5750.
Entry: Long at 1.5711 Stop: 1.5668 Target: 1.5750
10:00am EST- Unfortunately I was stopped out of my trade. (-43 pips)
Trade Result: -43 pips R-Multiple: -1.00