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Main Trend

Current Trend= Although it was another choppy day, the 4hr trend remained up the entire time.

Today I only looked for long trades.

Today’s Surf

2:00 am ET– There was a moving average crossover for a long trade. RSI>50, Stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. Entry was at the close of the candle which was at 9557 and my stop was at the most recent swing low which was at 9533. The signal occurred after midnight so there was a good chance for some movement. Since I was 43 pips away from the nearest 00 level I decided to set my initial target at 9600.

4:30 am ET– The price had gotten as high as 9590 but unfortunately in reversed and I was stopped out of my trade.

7:15 am ET– There was a moving average crossover for a long trade. RSI>50, Stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. Entry was at the close of the candle which was at 9526 and my stop was at the most recent swing low which was at 9491. The signal occurred after midnight so there was a good chance for some movement. I could either go for the nearest 50 level or go for the same amount of pips I was risking which in this case was 35. I opted for the larger target and set my initial target at +35 pips from my entry which was at 9561.

4:00 pm ET– According to my rules I exited my trade since neither my target nor my stop was hit by this time. My exit was at 9540.

Trade Result: -24 +14= -10 pips; R-Multiple= -0.6

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