Current Trend= The trend remained down the entire day.
Today I only looked for short trades
News events to watch for today :
- 7:00am EST- UK Bank Rate Statement
- 8:30am EST- US Prelim Non Farm Productivity
12:30 am 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 1.5815 with a stop at the most recent swing high at 1.5851. Since I was 15 pips away from the nearest 50 or 00 level, I decided to put my target at 1.5800.
Entry: Short at 1.5815
Initial Target: 1.5800
12:45 am EST- Unfortunately, I was stopped out of my trade.
Trade Result: -36 pips (NOT INCLUDING SPREAD) R-Multiple: -1.00
News events to watch for tomorrow :
- 8:30 am EST- US Employment Report
- 10:00 am EST- US Pending Home Sales