Current Trend= Trend remained down for the entire day.
Today I only looked for short trades.
7:30 pm ET– There was a moving average crossover for a short trade. RSI<50 (barely..mine was at like 49.5), Stochastics were trending down, and MACD was positive and losing value. This was a valid entry. Entry was at the close of the candle which was at 9525 and my stop was at the most recent swing high which was at 9560. The signal occurred before midnight which means there was a risk of lack of movement. So I could either go for the nearest 00 (9500) for a target of 25 pips or go for the same amount of pips I was risking, which in this case was 35. Since I was worried about lack of movement I decided to take the smaller target and go for 9500.
*After midnight- My initial target was at 9500. Now since it is after midnight and I am still in my trade I decide to go for a larger target since movement should be ok now. I now set my initial target for the same amount of pips I was risking, which in this case was 35 pips. This put my target at 2490.
5:15 am ET– Wow! The market not only slices through my target at 2490, but it moves all the way down to 9450. The price makes a slight break of this level and actually ends up closing slightly below it so I move my stop to 9450 which is where I was eventually stopped out on the next candle.
Trade Result: +75 pips; R-Multiple= 2.14