The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- 8:30am EST– US Unemployment Claims
12:45am 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 1.3431 with a stop at the most recent swing low at 1.3420. Since I was 19 pips away from the nearest 50 or 00 level, I put my initial target at 1.3450.
Entry: Long at 1.3431 Stop: 1.3420 Target: 1.3450
3:15am EST– My target was hit. Price made a clean break so I moved my stop to 1.3450 and set my next target for 1.3500.
11:15am EST– Didn’t consider this possible signal because it was close to 12 noon EST.
Trade Result: +19 pips R-Multiple: 1.72
News events to watch for Friday: