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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
9:45 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 was a valid entry. Entry was at the close of the candle which was at 9701 with a stop at the most recent swing low which was at 9684. Since the entry was before midnight I decided to set my initial target for the same amount of pips I was risking. It ends up being a 17 pip target which is a reasonable win so you could’ve chosen to take your profit there, but I wanted to see if I could grab more pips, so I decided to trail my stop once my 17 pip target was hit and try to grab as many pips as possible.
2:30 am ET– My initial target is hit at 9718 and I move my stop to breakeven. My next target is set for the nearest 50 level which was at 9750.
3:45 am ET– Unfortunately I am stopped out at breakeven.
5:30 am 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 was a valid entry. Entry was at the close of the candle which was at 9710 with a stop at the most recent swing low which was at 9672. Since the entry was after midnight I decided to set my initial target for the nearest 50 level which was at 9750.
3:45 pm ET– Unfortunately my target is not hit by this point and by following my system rules, I manually closed my trade out at 4 pm ET. I exited at 9696.
Trade Result: +0 pips; -14 pips