The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
4:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.
8:15am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive
The entry was at the close of the candle at 1.4393 with a stop at the most recent swing low at 1.4367. Since I was only 7 pips away from the nearest 50 or 00 level (1.4400), I decided to go for the same amount of pips I was risking on the trade, which in this case was 26. This put my initial target at 1.4419.
Entry: Long at 1.4393 Stop: 1.4367 Target: 1.4419
9:45am EST– My target wasn’t hit by this time. Since news was coming out at 10am EST, I decided to manually exit my trade. I got out at 1.4402. (+9 pips)
Trade Result: +9 pips R-Multiple: 0.34