The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST– UK CIPS Market Services PMI
- 10:00am EST- US IBD Consumer Optimism; ISM Non-Manufacturing
12:45am EST- 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 at 1.6867 with a stop at the most recent swing low at 1.6861. I was 33 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6900.
Entry: Long at 1.6867 Stop: 1.6861 Target: 1.6900
2:30am EST– Unfortunately I was stopped out of my trade. (-6 pips)
4:30am EST- Didn’t consider this possible signal because it was a news candle.
10:45am EST- Didn’t enter here because it was close to 12pm EST.
Trade Result: -6 pips R-Multiple: -1.00
News events to watch for Wednesday:
- 4:30am EST– UK Manufacturing Production; Industrial Production
- 8:30am EST– US Trade Balance
- 10:00am EST– UK NIESR GDP Est.