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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
1:00am ET– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 2.0550 with a stop at the most recent swing low at 2.0538. Since I was 50 pips away from the nearest 50 or 00 level, I decided to put my target at 2.0600.
Entry: Long at 2.0550
Stop: 2.0538
Initial Target: 2.0600
6:45am ET– My target was hit. Price did not make a clean break of my target so I took my final profit. I was able to exit at 2.0600.
11:00am 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 2.0606 with a stop at the most recent swing low at 2.0571. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my target at 2.0650.
Entry: Long at 2.0606
Stop: 2.0571
Initial Target: 2.0650
4:00pm ET– My target was not hit by this time and according to my rules, I close out all trades at this time whether I’m negative or positive. Luckily I was positive and managed to get out at 2.0634.
Trade Result: +50 +28= +78 pips; R-Multiple: 4.16, 0.80
Tomorrow’s news events to watch out for:
- No important news events tomorrow
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