The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
3:15am 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 1.5848 with a stop at the most recent swing low at 1.5805. Since I was only 2 pips away from the nearest 50 or 00 level (1.5850), I decided to go for the same amount of pips I was risking on the trade, which in this case was 43. This put my initial target at 1.5891.
Entry: Long at 1.5848 Stop: 1.5805 Target: 1.591
3:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.5886 (+38 pips)
Trade Result: +38 pips R-Multiple: 0.88
News events to watch for Friday: