The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
6:15am 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 1.5206 with a stop at the most recent swing low at 1.5149. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5250.
Entry: Long at 1.5206 Stop: 1.5149 Target: 1.5250
8:00am EST– My target wasn’t hit by this time. Since news was coming out at 8:15am EST, I decided to close out my trade. I got out at 1. 5236. (+30 pips)
Trade Result: +30 pips R-Multiple: 0.52
News events to watch for Thursday:
- 8:30am EST– US Initial Claims