The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 4:30am EST– BOE MPC Minutes released; Claimant Count Rate; Average Earnings; Claimant Count Change; ILO Unemployment Rate
2:30am 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 1.6480 with a stop at the most recent swing low at 1.6467. Since I was 20 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.6500.
Entry: Long at 1.6480 Stop: 1.6467 Target: 1.6500
2:45am EST– Unfortunately I was stopped out of my trade. (-13 pips)
4:30am EST– There was a signal here but because it was a news candle I did not enter.
Trade Result: -13 pips R-Multiple: -1.00
News events to watch for Thursday:
- 6:00am EST– CBI Distributive Trades
- 8:30am EST– US Initial Claims
- 9:00am EST– US FHFA House Price Index
- 10:00am EST– US Existing Home Sales