The trend was UP until 11am EST. From 7am – 11am EST a new trend change candle formed and changed the trend from up to DOWN. After 11am EST, the trend remained down the rest of the day.
Today I only looked for long trades until 11am EST. After 11am EST I only looked for short trades.
News events to watch for today :
- 10:00am EST– US IBD Consumer Optimism
6:30am 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 from the previous candle. 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 Trade Balance