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Main Trend
Current Trend
The trend was down until 7am EST. From 3am – 7am EST a new trend change candle formed and changed the trend from down to UP. After 7am EST, the trend remained up the rest of the day.
Today I only looked for short trades until 7am EST. After 7am EST, I only looked for long trades.
News events to watch for today :
- 4:30am EST- UK CIPS Manufacturing PMI ; Secured Lending ; Mortgage Approvals ; Net Consumer Credit
Today’s Surf
9:15am EST– There was a moving average crossover for a short trade. RSI was less 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 Wednesday:
- 4:30am EST– UK CIPS Construction PMI
- 10:00am EST– US ISM Non Manufacturing
For a complete list of news events check out our Forex Economic Calendar.
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