The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :
6:45am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.
The entry was at the close of the candle at 1.4421 with a stop at the most recent swing high at 1.4484. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4400.
Entry: Short at 1.4421 Stop: 1.4484 Target: 1.4400
7:15am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4402. (+19 pips)
Trade Result: +19 pips R-Multiple: 0.30