The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- 8:15am EST– US ADP Employment Report
- 8:30am EST– US Unemployment Claims
- 10:00am EST– US Durable Goods
3:15am 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. This was a valid entry.
The entry was at the close of the candle at 1.2921 with a stop at the most recent swing high at 1.2895. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2950.
Entry: Long at 1.2921 Stop: 1.2895 Target: 1.2950
8:00am EST– My target was hit. Price made a clean break but news was coming out at 8:15am EST so I decided to manually exit my trade. I got out at 1.2954. (+33 pips)
11:00am EST– Didn’t consider this possible signal because it was close to 12 noon EST.
Trade Result: +33 pips R-Multiple: 1.26
News events to watch for Friday:
- 8:30am EST– US NFP