Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
1:30am ET– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive. This canceled the signal and I did not enter.
6:30am ET– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 2.0785 with a stop at the most recent swing low at 2.0753. Since I was 15 pips away from the nearest 50 or 00 level, I decided to put my target at 2.0800.
Entry: Long at 2.0785
Initial Target: 2.0800
7:15am ET– My target was hit. Price did not make a clean break of my target so I took my final profit at 2.0800.
Trade Result: +15 pips; R-Multiple: 0.47
Tomorrow’s news events to watch out for:
- 8:30am ET- US Non Farm Payrolls
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