The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 10:00am EST– US New Home Sales
2:45am 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 1.5367 with a stop at the most recent swing low at 1.5344. Since I was 33 pips away from the nearest 50 or 00 level I put my initial target at 1.5400.
Entry: Long at 1.5367 Stop: 1.5344 Target: 1.5400
5:45am EST– Unfortunately I was stopped out of my trade. (-23 pips)
10:15am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.
Trade Result: -23 pips R-Multiple: -1.00