The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST– UK Trade Balance
6:30am 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 1.5680 with a stop at the most recent swing low at 1.5646. Since I was 20 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5700.
Entry: Long at 1.5680 Stop: 1.5646 Target: 1.5700
8:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I got out at 1.5699. (+19 pips)
Trade Result: +19 pips R-Multiple: 0.55