Current Trend= The trend remained up until 8am ET. From 4am – 8am ET, there was a new trend change candle which changed the trend from up to DOWN. After 8am ET, the trend remained down the rest of the day.
Today I looked for long trades until 8am ET. After 8am ET, I only looked for short trades.
8:00 am ET- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle which was at 9871 with a stop at the most recent swing high which was at 9906. Since I was only 21 pips away from the nearest 50 level, I decided to go for the same amount of pips I was risking on the trade, which in this case was 35. This put my target at 9836.
8:45 am ET- My target is hit and the candle makes a clean break of my target. I decide to move my stop to 9836 and go for 9800 as my next target.
9:00 am ET- Unfortunately I was not able to capture any more pips as I was stopped out at 9836.
Trade Result: +35 pips ; R-Multiple= 1.00