The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :
- 4:30am EST– UK BOE MPC Minutes
12:00am 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 1.5513 with a stop at the most recent swing high at 1.5523. Since I was 13 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5500.
Entry: Short at 1.5513 Stop: 1.5523 Target: 1.5500
12:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.5502. (+11 pips)
11:30am EST– Didn’t consider this possible signal because it was right before 12 noon EST.
Trade Result: -+11 pips R-Multiple: 1.10