The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- 4:30am EST– UK Public Finances
6:30am 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 1.2835 with a stop at the most recent swing low at 1.2811. Since I was 15 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2850.
Entry: Long at 1.2835 Stop: 1.2811 Target: 1.2850
9:15am EST– My target was hit. Price closed right at 1.2850 so I went ahead and took my final profit. (+15 pips)
Trade Result: +15 pips R-Multiple: N/A
News events to watch for Wednesday:
- 10:00am EST– US Existing Home Sales