The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
2:30am 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 1.3154 with a stop at the most recent swing low at 1.3142. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.
Entry: Long at 1.3154 Stop: 1.3142 Target: 1.3200
4:15am EST– My target wasn’t hit by this time. Since news was coming out at 4:30am EST, I decided to manually exit my trade. I got out at 1.3197. (+43 pips)
Trade Result: +43 pips R-Multiple: 3.58
News events to watch for Friday:
- 4:30am EST– UK Public Finances