The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 8:30am EST– US Housing Starts
4:45am 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.
The entry was at the close of the candle at 1.4319 with a stop at the most recent swing low at 1.4283. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4350.
Entry: Long at 1.4319 Stop: 1.4283 Target: 1.4350
5:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.4349. (+30 pips)
Trade Result: +30 pips R-Multiple: 0.83