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Main Trend
Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
Today’s Surf
2:00 am ET – There was a moving average crossover for a short trade. RSI was less than 50, Stochastics were trending down, and MACD was positive and losing value. This was a valid trade. The entry was at the close of the candle which was at 1.9966 with a stop at the most recent high which as at 1.9982. Since I was 16 pips away from the nearest 50 level I decided to set my target for 1.9950.
5:00 am ET– . Unfortunately I am stopped out of my trade
12:15 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 trade. The entry was at the close of the candle which was at 2.0010 with a stop at the most recent high which as at 2.0044. Since I was only 10 pips away from the nearest 00 level, I decided to go for the same amount of pips I was risking, which in this case was 34. This put my target at 1.9976.
4:00 pm ET – My target is not hit by this time so I manually close out my trade at 2.0014.
Trade Result: -16 -4 = -20 pips; R-Multiple= -1.00, -0.12