The trend was up until 4am EST. From 12 midnight to 4am EST, a new trend change candle formed and changed the trend from up to DOWN.
The trend stayed down until 8am EST. From 4am – 8am EST a new trend change candle formed and changed the trend from down to UP.
After 8am EST, the trend remained up the rest of the day.
Today I only looked for long trades from 12 midnight to 4am EST. I only looked for short trades from 4am EST to 8am EST, and I only looked for long trades from 8am EST on out.
News events to watch for today :
8:30am EST– There was a valid signal here but because it was a news candle I did not enter.
Trade Result: +0 pips R-Multiple: N/A
News events to watch for Thursday:
- 8:30am EST- US Initial Claims ; GDP Annualized; Core PCE Price Index
- 10:00am EST– US Pending Home Sales