The trend was 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 short trades until 8am EST. After 8am EST, I only looked for long trades.
News events to watch for today :
- 4:30am EST– UK CPI
- 8:30am EST– US Housing Starts ; Building Permits
- 9:15am EST– US Capacity Utilization ; Industrial Production
7:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out the signal and I did not enter.
Trade Result: +0 pips R-Multiple: N/A