Current Trend= Up
Today I only looked for long trades.
After the consumer sentiment report there was a Cowabunga signal at 11:00 am ET. The entry was at the close of the candle which was at 9735 and the stop was at the most recent swing low which was at 9694. Since my entry was only 15 pips away from the 50 level (9750), I decided to set my target for the same amount of pips I was risking. In this case I was risking 41 pips so I added that to my entry and got a target at 9776. Unfortunately the market didn’t go as high as I had hoped and I ended up closing my trade at the end of the day for a 1 pip loss.
Trade Result: -1 Pip