Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
4:00 am ET– 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 which was at 9843 with a stop at the most recent swing low which was at 9825. Since I was only 7 pips away from the nearest 00 level, I decided to go for the same amount of pips I was risking on the trade, which in this case was 18. This put my target at 9861.
5:15 am ET – My target was hit and the price made a clean break of 9861. Instead of taking final profit, I trailed my stop to this level and set my next target at 9900.
9:15 am ET– My target at 9800 was hit and the price didn’t make a clean break so I took my final profit.
Trade Result: +57 pips ; R-Multiple= 3.16