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Main Trend
Current Trend= Trend remained up for the entire day
Today I only looked for long trades
Today’s Surf
7:45 pm ET– There was a moving average crossover for a long trade. RSI>50, Stochastics were trending up, and MACD was negative and gaining value. This is a valid entry. Entry was at the close of the candle which was at 9673 with a stop at the most recent swing low which was at 9664. Since the entry was before midnight I decided to set my initial target for the same amount of pips I was risking. However this is only a 9 pip target and if you factor in the spread, that isn’t big at all. I decided that I would trail my stop once the initial target was hit and go for 9700.
8:00 pm ET– I am stopped out of my trade.
9:30 pm ET– There was a moving average crossover for a long trade. RSI>50, Stochastics were trending up, and MACD was negative and gaining value. This is a valid entry. Entry was at the close of the candle which was at 9669 with a stop at the most recent swing low which was at 9663. Since the entry was before midnight I decided to set my initial target for the same amount of pips I was risking. However this is only a 6 pip target and if you factor in the spread, that isn’t big at all. I decided that I would trail my stop once the initial target was hit and go for 9700.
1:45 am ET– I am stopped out at breakeven.
4:30 am ET– There is a moving average crossover for a long trade but RSI is not greater than 50. No entry.
4:45 am ET– RSI crosses above 50 and the rest of the criteria is still met. I enter long at the close of the candle which is at 9671 with my stop at the most recent swing low at 9654. Since this signal was after midnight and because I was 29 pips away from a 00 level, I decided to set my target for 9700.
8:15 am ET– NFP is about to come out in 15 minutes. The price shoots past my target and because I know that I’m about to exit my trade anyway I try to exit at as high of a price I can. I ended up getting out at 9720.
8:30 am ET– NFP is released. I am already out of my trade.
Trade Result: -9, +0, +49= +40 Pips; R-Multiple= 2.88