The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :
The entry was at the close of the candle at 1.6167 with a stop at the most recent swing high at 1.6202. Since I was 17 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.6150.
Entry: Short at 1.6167 Stop: 1.6202 Target: 1.6150
8:15am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.6152. (+15 pips)
The entry was at the close of the candle at 1.6144 with a stop at the most recent swing high at 1.6176. Since I was 44 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.6100.
Entry: Short at 1.6144 Stop: 1.6167 Target: 1.6100
11:45am EST- My target wasn’t hit by this time. Since it was approaching 12 noon EST, I decided to go ahead and close out my trade. I exited at 1.6140. (+4 pips)
Trade Result: +15 +4= +19 pips R-Multiple: 0.42; 0.17
News events to watch for Thursday:
- 4:30am EST- UK Current Account; GDP
- 8:30am EST- US Initial Claims; Core PCE; GDP; Durable Goods
- 10:00am EST- US Pending Home Sales