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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
4:30 am 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. However, this was a news candle for the GBP PPI report. According to my rules, I do not take signals if it forms from a news candle. No entry.
8:45 am 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 which was at 9926 with a stop at the most recent swing low which was at 9895. Since I was 24 pips away from the nearest 50 level I decided to set my target at 9950.
10:00 am ET– Unfortunately I am stopped out of my trade.
11:30 am 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 which was at 9914 with a stop at the most recent swing low which was at 9883. Since I was 36 pips away from the nearest 50 level I decided to set my target at 9950.
4:00 pm ET– My target is not hit at this time and I manually close out my trade at 9900.
Trade Result: -31 -14= -45 pips; R-multiple= -1.00; -0.45