The trend stayed up the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST– UK Services PMI
- 8:30am EST– US Unemployment Claims
- 10:00am EST– US ISM Non-Manufacturing PMI
1:30am 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 1.6280 with a stop at the most recent low at 1.6258. Since I was 20 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6300.
Entry: Long at 1.6280 Stop: 1.6258 Target: 1.6300
2:00am EST– My target was hit. Price made a clean break so I moved my stop to 1.6300 and set my next target for 1.6350.
2:15am EST– Unfortunately I got stopped out at my initial target at 1.6300.
Trade Result: +20 pips (NOT INCLUDING SPREAD) R-Multiple: 0.90
News events to watch for tomorrow:
- 8:30am EST– US Non-Farm Employment Change