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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
1:45 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 trade. The entry was at the close of the candle which was at 2.0032 with a stop at the most recent swing low which as at 2.0020. Since I was 18 pips away from the nearest 50 level I decided to set my target for 2.0050.
2:00 am ET– . My target was hit. Price did not make a clean break of the 2.0050 level so I decided to take my final profit.
4:00 am ET– There was a valid signal but because it was a news candle (German IFO) I did not take it.
10:15 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 2.0049 with a stop at the most recent swing low which as at 2.0012. Since I was only 1 pip away from the nearest 50 level (2.0050) I decided to go for the same amount of pips I was risking, which in this case was 37. This put my target at 2.0086.
3:00 pm ET– Unfortunately I am stopped out of my trade.
Trade Result: +18 -37 = -19 pips; R-Multiple= 1.00, -1.00