Current Trend= The trend remained up until 12pm ET. From 8am – 12pm ET a new trend change candle formed which changed the trend from up to DOWN. The trend remained down the rest of the day.
I looked for long trades until 12pm ET. After 12pm ET, I only looked for short trades.
4:15 am ET– There was a moving average crossover for a long trade. RSI was greater than 50 but stochastics were flat and MACD was negative. This cancelled out the signal and there was no trade. Even if there was a signal I wouldn’t have taken it because it was right before a major news event (GBP Industrial Production).
Initial Target: None
Trade Result: +0 pips