Current Trend= The trend remained up the entire day.
Today I only looked for long trades
News events to watch for today :
- 2:00am EST- UK Nationwide HPI
- 8:30 am EST- US GDP
1:15 am EST- There was a moving average crossover for a long trade. RSI was greater than 50 but stochastics were trending down and MACD was losing value. This canceled out the signal so I didn’t enter.
6:30 am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.6624 with a stop at the most recent swing low at 1.6426. Since I was 26 pips away from the nearest 50 or 00 level, I decided to put my target at 1.6650.
Entry: Long at 1.6624
Initial Target: 1.6650
6:45 am EST- My target was hit at 1.6650. Price did not make a clean break so I took my final profit. I exited at 1.6645.
Trade Result: +19 pips (NOT INCLUDING SPREAD) R-Multiple: 0.09
News events to watch for tomorrow :
- 8:30 am EST- US Core PCE Index
- 9:45 am EST- Chicago PMI
- 10:00 am EST- Revised Consumer Sentiment