The trend was DOWN until 11am EST. From 7am – 11am EST, a new trend change candle formed and changed the trend from down to UP. After 11am EST, the trend remained UP the rest of the day.
Today I only looked for short trades until 11am EST. After 11am EST, I only looked for long trades.
News events to watch for today:
- 4:30am EST– UK BOE Mortgage Approvals
- 8:30am EST– US GDP
- 9:00am EST– US S&P Case-Shiller Home Price
- 10:00am EST– US Consumer Confidence
12:15am EST– There was a moving average crossover for a short trade. RSI was less than 50, MACD was positive and losing value, but stochastics were still trending up. This cancelled out the signal and I did not enter.
8:45am EST– Didn’t consider this possible signal because it was right before the 9am EST news event.
Trade Result: +0 pips R-Multiple: N/A
News events to watch for Wednesday:
- 8:15am EST– US ADP Employment Survey
- 8:30am EST– US Core PCE Price Index
- 9:45am EST– US Chicago PMI
- 10:00am EST– US Pending Home Sales