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Main Trend
Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
Today’s Surf
3:30 am ET– 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 which was at 2.0359 with a stop at the most recent swing low which was at 2.0339. Since I was 41 pips away from the nearest 00 level, I decided to put my target at 2.0400.
7:15 am ET– My target was hit at 2.0400.
9:45 am ET– 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 which was at 2.0386 with a stop at the most recent swing low which was at 2.0365. Since I was only 14 pips away from the nearest 00 level I decided to go for the same amount of pips I was risking which in this case was 21. This put my target at 2.0407.
10:45 am ET– Unfortunately I was stopped out.
Trade Result: +41 -21= +20 pips; R-Multiple: 2.05, -1.00