Current Trend= The trend remained down until 3am EDT. From 11pm EDT – 3am EDT, a new trend change candle formed and changed the trend from down to UP. After 3am EDT, the trend remained up the rest of the day.
Today I only looked for short trades until 3am EDT. After 3am EDT, I only looked for long trades.
News events to watch for today :
- 9:00am EDT- Fed Chairman Ben Bernanke Speaks
8:30am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, MACD was negative and gaining value, but stochastics were trending down. This cancelled out the signal and I did not enter.
Trade Result: +0 pips; R-Multiple: N/A
News events to watch for tomorrow :
- 4:30am EDT- GBP Services PMI
- 8:15am EDT- ADP Non Farm Employment Change
- 8:30am EDT- US Nonfarm productivity
- 10:00am EDT- US ISM Non-Manufacturing Composite
- 2:00pm EDT- US Beige Book