The trend stayed down the entire day.
Today I only looked for short trades.
News events to watch for today :
- 10:00am EST– US Leading Indicators
8:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry
The entry was at the close of the candle at 1.6169 with a stop at the most recent high at 1.6193. Since I was 19 pips away from the nearest 50 or 00 level, I decided to put my target at 1.6150.
Entry: Short at 1.6169 Stop: 1.6193 Target: 1.6150
3:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.6153.
Trade Result: +16 pips (NOT INCLUDING SPREAD) R-Multiple: 0.66
News events to watch for tomorrow:
- 10:00am EST– US House Price Index