The trend was up the entire day.
Today I only looked for long trades.
News events to watch for today :
2:30am 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 valid entry.
The entry was at the close of the candle at 1.6439 with a stop at the most recent swing low at 1.6408. Since I was only 11 pips away from the nearest 50 or 00 level (1.6450), I decided to go for the same amount of pips I was risking on the trade, which in this case was 31 pips. This put my initial target at 1.6470.
Entry: Long at 1.6439 Stop: 1.6408 Target: 1.6470
4:15am EST– Unfortunately I was stopped out of my trade. (-31 pips)
Trade Result: -31 pips R-Multiple: -1.00
News events to watch for Tuesday:
- 10:00am EST- US IBD Consumer Optimism