Very Nice!
Two trades. My first trade I believe was my most profitable in one trade since I started this blog. 201 pips! unfortunately I went on to give back 54 of them on the next trade..but still, 147 pips to close out the morning is not at all bad. And it isn't even noon yet...I am early!
Today's Trades:
1:15am EST- 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 entry. The entry was at the close of the candle at 1.9617 with a stop at the most recent swing high at 1.9736 . Since I was 17 pips away from the nearest 50 or 00 level (1.9600), I decided to to set my target at that price.
Entry: Short at 1.9617
Stop: 1.9736
Initial Target: 1.9600
2:00am EST: My first target was hit, and because I learnt from yesterday's mistake I waited to see if it made a clean break. It just kept going so I put my stop at 1.9600 and set a new target of 1.9550
New target: 1.9550
3:20am EST: My second target was hit and I exited the trade at 1.9550
When I moved my stop I never thought it would hit my second target so I set a limit order and just went to sleep. I woke up when my Alarm sounded telling me something was filled and my first thought was..."oh well, so I got stopped out for a 17 pips gain per lot" It was a moment of joy to see I hit the second target.
7:15am EST- 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 entry. The entry was at the close of the candle at 1.9545 with a stop at the most recent swing high at 1.9578 . Since I was 45 pips away from the nearest 50 or 00 level (1.9500), I decided to to set my target at that price.
Entry: Short at 1.9545
Stop: 1.9578
Initial Target: 1.9500
8:00am EST: News was coming out at 8:15 so I had to close my trade at the end of the candle. I got filled at 1.9563.
In retro, I should not have gone into a trade with less than 1 hour before news. I guess I just thought everything was going my way. Thank you Trade Gods for keeping me humble.
Results: 2 trades......+49 pips...3 lots....+147 pips
Here is my chart for the day.
Talk to you soon.
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