The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :
- 4:30am EST– UK Public Borrowing
- 8:30am EST– US CPI; Initial Claims
- 10:00am EST– US Philly Fed Survey; Existing Home Sales
3:15am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid signal. I entered at the close of the candle at 1.5173 with a stop at the most recent swing high at 1.5198. Since I was 23 pips away from the nearest 50 or 00 level, I put my initial target at 1.5150.
Entry: Short at 1.5173; Stop: 1.5198; Target: 1.5150
3:30am EST- Unfortunately I was stopped out of my trade. (-25 pips)
9:45am EST– I didn’t even consider this as a possible trade since it was right before the 10:00am EST news candle.
Trade Result: -25 pips R-Multiple: -1.00
News events to watch for Friday: