The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :
3:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.
The entry was at the close of the candle at 1.5134 with a stop at the most recent swing high at 1.5154. Since I was 34 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5100.
Entry: Short at 1.5134 Stop: 1.5154 Target: 1.5100
8:00am EST– My target wasn’t hit by this time. Since news was coming out at 8:15am EST, I decided to manually exit my trade. I got out at 1.5117. (+17 pips)
Trade Result: +17 pips R-Multiple: 0.85