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Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 8:30am EST- US Building Permits
5:00am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 2.0012 with a stop at the most recent swing low at 1.9981. Since I was 38 pips away from the nearest 50 or 00 level, I decided to put my initial target at 2.0050.
Entry: Long at 2.0012
Initial Target: 2.0050
8:15am EST- My target wasn’t hit by this time. I knew that news was coming out at 8:30am EST so I went ahead and closed my trade. I exited at 2.0030.
Trade Result: +18 pips (NOT INCLUDING SPREAD: R-Multiple: 0.58
News events to watch for tomorrow :
For a complete list of news events check out our News Section