The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST– UK Claimant Count Rate; Average Earnings; Claimant Count Change; ILO Unemployment Rate
- 10:00am EST– US Wholesale Inventories
- 11:30am EST– UK FTSE Index Quarterly Rebalance
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 1.5726 with a stop at the most recent swing low at 1.5718. Since I was 24 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5750.
Entry: Long at 1.5726 Stop: 1.5718 Target: 1.5750
4:15am EST – My target was hit. Since news was coming out at 4:30am EST, I was just looking to grab as many pips as I could and get out before the news candle. I exited at 1.5790. (+64 pips)
Trade Result: +64 pips R-Multiple: 8.00
News events to watch for Thursday:
- 8:30am EST– US Initial Claims