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Main Trend
Current Trend= The trend remained up until 12pm ET. There was a new trend change candle that formed from 8am-12pm ET that changed the trend from up to DOWN. After that, the trend remained down the rest of the day.
Today I only looked for long trades until 12pm ET. I was already in a trade at that time so I didn’t bother looking for short trades.
Today’s Surf
3:30 am 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 trade. The entry was at the close of the candle which was at 2.0040 with a stop at the most recent low which as at 1.9983. Since I was only 10 pips away from the nearest 50 level I decided to go for the same amount of pips that I was risking, which in this case was 57. This put my target at 2.0097.
4:00 pm ET- Unfortunately my target is not hit by this time so I manually close out my trade. I exited at 2.0015.
Trade Result: -25 pips; R-Multiple= -0.43