The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 8:30am EST– US GDP
8:00am EST– Didn’t consider this possible signal because it was right before the 8:30am EST news event.
10:45am 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 1.4569 with a stop at the most recent swing low at 1.4540. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4600.
Entry: Long at 1.4569 Stop: 1.4540 Target: 1.4600
11:45am EST– Unfortunately my target wasn’t hit by this time. Since it was close to 12pm EST, I decided to close out my trade. I got out at 1.4591. (+22 pips)
Trade Result: +22 pips R-Multiple: 0.75
News events to watch for Friday:
- 4:30am EST– UK BOE Mortgage Approvals
- 8:30am EST– US Core PCE Price Index
- 9:45am EST– US Chicago PMI
- 10:00am EST– US Univ. of Mich. Sentiment