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Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
News events to watch for today :
- 5:30am EST- UK Retail Sales
- 8:30am EST- US GDP; Unemployment Report
2:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending up but MACD was already negative which cancelled out the signal. No entry!
5:15am EST- There was a potential signal here but because it was right before news, I did not enter.
9:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.4541 with a stop at the most recent high at 1.4633. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4500.
Entry: Short at 1.4541
10:00am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.4505.
Trade Result: +36 pips (NOT INCLUDING SPREAD) R-Multiple: 0.39
News events to watch for tomorrow :
- 5:30am EST- UK Current Account
- 8:30am EST- US Core PCE Price Index m/m
- 9:55am EST- US Revised UoM Consumer Sentiment
For a complete list of news events check out our News Section