The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today:
- 9:00am EST– US FHFA House Price Index
- 9:15am EST– US Fed Kashkari Speaks
- 10:00am EST– US New Home Sales
1:15am 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 1.2981 with a stop at the most recent swing high at 1.2990. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2950.
Entry: Short at 1.2981 Stop: 1.2990 Target: 1.2950
3:15am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.2951 (+30 pips)
10:45am EST– Didn’t consider this possible signal because it was close to 12 noon EST.
Trade Result: +30 pips R-Multiple: 3.33