Current Trend= The trend remained down until 4am ET. From 4am – 8am ET, a new trend change candle formed and changed the trend from down to UP. After 8am ET, the trend remained up the rest of the day.
8:30 am ET– This was a moving average crossover for a long trade. RSI was greater than 50, stochastics was trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 9876 with a stop at the most recent swing low at 9843. Since I was 24 pips away from the nearest 00 level I decided to put my target at 9900.
Entry: Long at 9876
Initial Target: 9900
9:45 am ET– Unfortunately I was stopped out of my trade.
2:15 pm ET– There was another long signal here but I didn’t take it because it was so late in the day.
Trade Result: -33 pips; R-multiple: -1.00