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Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

Today’s Surf

2:00am EDT– 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 2.0655 with a stop at the most recent swing high at 2.0693. Since I was only 5 pips away from the nearest 50 or 00 level (2.0650) I decided to go for the same amount of pips I was risking on the trade, which in this case was 38. This put my initial target at 2.0617.

Entry: Short at 2.0655
Stop: 2.0693
Initial Target: 2.0617

2:30am EDT– My target was hit at 2.0617. Price made a clean break of my target so I moved my stop to 2.0617 and set my next target for 2.0600.

2:45am EDT– My 2nd target at 2.0600 was hit. This time, price did not make a clean break of my target so I took my final profit.

Trade Result: +55 pips; R-Multiple: 1.45

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