The trend was UP the entire day until 7am EST. From 3am – 7am EST a new trend change candle formed and changed the trend from up to DOWN. After 7am EST, the trend remained down the rest of the day.
Today I only looked for long trades until 7am EST. After 7am EST I only looked for short trades.
News events to watch for today :
- 4:30am EST- UK CIPS Markit Services PMI
- 8:15am EST- US ADP Employment Survey
- 8:30am EST- US Trade Balance
- 10:00am EST- US ISM Non Manufacturing; New Home Sales
1:15, 6:30am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.
8:15am EST - Didn’t even consider this possible signal because it was a news candle.
Trade Result: +0 pips R-Multiple: N/A