The trend was DOWN the entire day.
Today I only looked for short trades..
News events to watch for today :
1:00am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid signal. I entered at the close of the candle at 1.5233 with a stop at the most recent swing high at 1.5249. Since I was 33 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5200.
Entry: Short at 1.5233; Stop: 1.5249; Target: 1.5200
2:15am EST- Unfortunately I was stopped out of my trade. (-16 pips)
7:30am EST- Did not enter because it was right before the 8:30am EST news event, and MACD was already negative from the previous candle.
11:15am EST- Did not enter because it was close to 12 noon EST.
Trade Result: -16 pips R-Multiple: -1.00