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Main Trend
Current Trend
The trend was UP the entire day until 7am EST. From 3am – 7am EST a new trend change candle formed and changed the trend from up to DOWN. After 7am EST, the trend remained down the rest of the day.
Today I only looked for long trades until 7am EST. After 7am EST I only looked for short trades.
News events to watch for today :
- 4:30am EST– UK CIPS Markit Services PMI
- 8:15am EST– US ADP Employment Survey
- 8:30am EST– US Trade Balance
- 10:00am EST- US ISM Non Manufacturing; New Home Sales
Today’s Surf
1:15, 6:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.
8:15am EST – Didn’t even consider this possible signal because it was a news candle.
Trade Result: +0 pips R-Multiple: N/A
News events to watch for Thursday:
- 7:00am EST– UK BOE MPC Base Rate
- 8:30am EST– US GDP; Initial Claims
- 10:00am EST– US Factory Orders
For a complete list of news events check out our Forex Economic Calendar.
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