The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :
3:00am 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 entry.
The entry was at the close of the candle at 1.5098 with a stop at the most recent swing high at 1.5114. Since I was 48 pips away from the nearest 50 or 00 level I put my initial target at 1.5050.
Entry: Short at 1.5098 Stop: 1.5114 Target: 1.5050
7:00am EST– Unfortunately I was stopped out of my trade. (-16 pips)
Trade Result: -16 pips R-Multiple: -1.00
News events to watch for Wednesday:
- 6:00am EST– UK CBI Distributive Trades