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Main Trend
Current Trend= Trend remained down for the entire day.
Today I only looked for short trades.
Today’s Surf
7:00 pm ET-There was a moving average crossover for a short trade. RSI<50, Stochastics were trending down, and MACD was positive and losing value. This is a valid entry. Entry was at the close of the candle which was at 9582 with a stop at the most recent swing high which was at 9613. Since I was 32 pips away from a 50 level, I decided to set my initial target for 9550.
9:15 am ET- Price hits 9550. The market had come close to hitting that price a few times before that, and with limited fundamentals today, I decided that 9550 would be the final target and closed my trade.
Trade Result:+32 Pips; R-Multiple= 1.03