If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= The trend remained down the entire day.
I only looked for short trades.
Today’s Surf
2:30 am 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 entry. The entry was at the close of the candle which was at 9661 with a stop at the most recent swing high which was at 9681. Since I was only 11 pips away from the nearest 50 level I decided to go for the same amount of pips I was risking which in this case was 20. This put my target at 9641.
4:15 am ET– Unfortunately I was stopped out.
6:15 am 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 entry. The entry was at the close of the candle which was at 9665 with a stop at the most recent swing high which was at 9682. Since I was 15 pips away from the nearest 50 level I decided to set my target at 9650.
8:00 am ET– Unfortunately I was stopped out.
9:15 am 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 entry. The entry was at the close of the candle which was at 9664 with a stop at the most recent swing high which was at 9692. Since I was 14 pips away from the nearest 50 level I decided to set my target at 9650.
11:15 am ET- Unfortunately I was stopped out.
Trade Result: -20 -17 -28= -65 pips; R-multiple= -1.00; -1.00; -1.00