The trend was DOWN the entire day until 7am EST. From 3am – 7am EST a new trend change candle formed and changed the trend from down to UP. After 7am EST, the trend remained up the rest of the day.
Today I only looked for short trades until 7am EST. After 7am EST I only looked for long trades.
News events to watch for today :
- 4:30am EST– UK Claimant Count Rate; Average Earnings; Claimant Count Change; ILO Unemployment Rate; BOE minutes Released
- 6:00am EST– UK CBI Distributive Trades
- 8:30am EST– US Building Permits; Housing Starts
12:45, 1:15, 3:00am EST – There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out the signal and I did not enter.
Trade Result: +0 pips R-Multiple: N/A
News events to watch for Thursday:
- 4:30am EST– UK Retail Sales
- 8:30am EST– US Initial Claims
- 10:00am EST- US Philly Fed Survey; Existing Home Sales