The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST– BOE Mortgage Approvals
- 9:00am EST– US S&P Case-Shiller Home Price
- 10:00am EST– US Consumer Confidence; FHFA House Price Index
3:30am 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 a valid entry.
The entry was at the close of the candle at 1.5534 with a stop at the most recent swing low at 1.5495. Since I was 16 pips away from the nearest 50 or 00 level I put my initial target at 1.5550.
Entry: Long at 1.5534 Stop: 1.5495 Target: 1.5550
4:00am EST- My target was hit. Price made a clean break so I moved my stop to 1.5550 and set my next target at 1.5600.
4:15am EST– Unfortunately I was stopped out at my original target at 1.5550. (+16 pips)
10:00am EST– There was a valid signal here but because it was on a news candle I did not enter.
Trade Result: +16 pips R-Multiple: 0.41