The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- 8:30am EST– US Initial Claims
3:00am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.
The entry was at the close of the candle at 1.3206 with a stop at the most recent swing low at 1.3164. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3250.
Entry: Long at 1.3206 Stop: 1.3164 Target: 1.3250
5:00am EST– Unfortunately I was stopped out of my trade. (-42 pips)
Trade Result: -42 pips R-Multiple: -1.00