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Main Trend
Current Trend= There was a trend change candle from 8pm ET- 12am ET. After that, the trend remained down the entire day.
Today I only looked for short trades.
Today’s Surf
2:30 am ET- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle which was at 9296 with a stop at the most recent swing high which was at 9325. Since we’ve been having such choppy conditions I decided to set my target for the same amount of pips I was risking on the trade which was 29. This put my target at 9267.
9:30 am ET– Unfortunately I am stopped out of my trade. Bummer!
1:00 pm ET– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle which was at 9313 with a stop at the most recent swing high which was at 9347. Once again I set my target for the same amount of pips I was risking in the trade which was 34. This put my target at 9279.
4:00 pm ET– Unfortunately my target is not hit by this time and I manually close out my trade. I exited at 9291.
Trade Result: -29 +22= -7 pips; R-Multiple= -1, .64