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Main Trend

Current Trend= The trend remained down until 3am EDT. From 11pm – 3am EDT, a new trend change candle formed and changed the trend from down to UP. After 3am EDT, the trend remained up the rest of the day.

Today I looked for short trades until 3am EDT. After 3am EDT I only looked for long trades.

Today’s Surf

11:15am EDT– 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 2.0682 with a stop at the most recent swing low at 2.0647. Since I was 18 pips away from the nearest 50 or 00 level, I put my initial target at 2.0700.

Entry: Long at 2.0682
Stop: 2.0647
Initial Target: 2.0700

2:00pm EDT– My target was hit. Price made a clean break of my target so I moved my stop to 2.0700 and set my next target for 2.0750

3:45pm EDT– Unfortunately I was stopped out at my first target at 2.0700.

Trade Result: +18 pips; R-Multiple: 0.51

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