The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :
4:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.
The entry was at the close of the candle at 1.5330 with a stop at the most recent swing high at 1.5353. Since I was 30 pips away from the nearest 50 or 00 level I put my initial target at 1.5300.
Entry: Short at 1.5330 Stop: 1.5353 Target: 1.5300
5:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.5304. (+26 pips)
9:15am EST- There was a good signal here but because it was right before the 10:00am EST I did not enter.
Trade Result: +26 pips R-Multiple: 1.13
News events to watch for Wednesday:
- 8:15am EST– US ADP Employment Survey
- 8:30am EST– US GDP; Core PCE Price Index; Employment Cost Index
- 9:00am EST– US Quarterly Refunding Announcement
- 9:45am EST– US Chicago PMI