Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
News events to watch for today :
- 4:30am EST– UK Services PMI
6:45am 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 entry. The entry was at the close of the candle at 1.9683 with a stop at the most recent swing high at 1.9716. Since I was 33 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9650.
Entry: Short at 1.9683
Initial Target: 1.9650
7:45am EST– Unfortunately I was stopped out of my trade.
Trade Result: -34 pips : R-Multiple: -1.00
News events to watch for tomorrow :
- 4:30am EST– UK Industrial Production
- 8:30am EST– US Non Farm Productivity Q/Q
- 10:00am EST– US Pending Home Sales