The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- 8:30am EST– US Philly Fed Survey
9:45am 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. This was a valid entry.
The entry was at the close of the candle at 1.2812 with a stop at the most recent swing low at 1.2787. Since I was 38 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2850.
Entry: Long at 1.2812 Stop: 1.2787 Target: 1.2850
11:45am EST– Unfortunately my target wasn’t hit by this time. Since 12 noon EST was approaching I decided to manually exit my trade. I got out at 1.2838. (+26 pips)
Trade Result: +26 pips R-Multiple: 1.04