Current Trend= The trend remained down the entire day
1:15 am ET– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 2.0113 with a stop at the most recent swing high which was at 2.0123. Since I was 13 pips away from the nearest 00 level I decided to put my target at 2.0100.
Entry: Short at 2.0113
Initial Target: 2.0100
1:45 am ET– Unfortunately I was stopped out of my trade.
This was one of those days where you want to pull your hair out. You can see that we were stopped out of our trade right before the price started going our way. Arghhh! It happens so we’ll just have to live with it. Bummer dudes!
Trade Result: -10 pips; R-multiple: -1.00