The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today:
2:45am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.
The entry was at the close of the candle at 1.3979 with a stop at the most recent swing high at 1.4000. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3950.
Entry: Short at 1.3979 Stop: 1.4000 Target: 1.3950
3:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I got out at 1.3952. (+27 pips)
11:30am EST– Didn’t consider this possible signal because it was right before 12 noon EST.
Trade Result: +27 pips R-Multiple: 1.28