The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
3:00am 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 1.4253 with a stop at the most recent swing low at 1.4220. Since I was 47 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4300.
Entry: Long at 1.4253 Stop: 1.4220 Target: 1.4300
4:30am EST– My target was hit. Price didn’t make a clean break so I took my final profit and got out at 1.4298. (+45 pips)
Trade Result: +45 pips R-Multiple: 1.36
News events to watch for Friday:
- 10:00am EST– US Univ. Of Mich. Sentiment