The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- 5:30am EST– UK Retail Sales
- 8:00am EST– UK BOE Bank Rate
- 8:30am EST– US Unemployment Claims
- 9:00am EST– US FHFA House Price Index
3:15am 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 1.4172 with a stop at the most recent swing low at 1.4139. Since I was 28 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4200.
Entry: Long at 1.4172 Stop: 1.4139 Target: 1.4200
5:15am EST– My target wasn’t hit by this time. Since news was coming out at 5:30am EST, I decided to manually exit my trade. I got out at 1.4172 (+0 pips)
7:30am EST– Didn’t consider this possible signal because it was right before the 8:00am EST news.
Trade Result: +0 pips R-Multiple: N/A