The trend was UP until 7am EST. From 3am – 7am EST, a new trend change candle formed and changed the trend from up to DOWN. After 7am EST, the trend remained down the rest of the day.
Today I only looked for long trades until 7am EST. After 7am EST I only looked for short trades.
News events to watch for today :
- 4:30am EST– UK Trade Balance
1:15am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive. This cancelled out the signal and I did not enter.
Trade Result: +0 pips R-Multiple: N/A
News events to watch for Thursday:
- 4:30am EST– UK Manufacturing Production; Industrial Production
- 7:00am EST- UK MPC Interest Rate Announcement; Base Rate
- 8:30am EST– US Retail Sales; Initial Claims
- 10:00am EST– US Business Inventories; UK NIESR GDP Est.