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Main Trend
Current Trend= There was a new trend change candle that formed from 12am ET – 4am ET. This trend change candle changed the trend from down to UP. The trend remained up the rest of the day.
Today I only looked for long trades.
Today’s Surf
6:15 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 entry. The entry was at the close of the candle which was at 9736 with a stop at the most recent swing low which was at 9693. Since I was only 14 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 43. This put my target at 9779..
1:45 pm ET– My target is hit. Price doesn’t make a clear break of my target so I take my final profit.
Trade Result: +43 pips; R-multiple= 1.00