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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
5:00am 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 at 2.0454 with a stop at the most recent swing low at 2.0406. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my target at 2.0500.
Entry: Long at 2.0454
Stop: 2.0406
Initial Target: 2.0500
8:30am ET– My target was hit at 2.0500. The price made a clean break of that level so I moved my stop loss to 2.0500 and set my next target for 2.0550.
9:30am ET– Unfortunately I was stopped out at 2.0500.
Trade Result: +46 pips; R-Multiple: 0.96