The trend was DOWN until 11am EST. From 7am – 11am EST, a new trend change candle formed and changed the trend from down to UP. After 11am EST, the trend remained up the rest of the day.
Today I only looked for short trades until 11am EST. After 11am EST, I only looked for long trades.
News events to watch for today:
- 4:30am EST– UK BOE Mortgage Approvals
5:45, 10:30am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, but MACD was already negative from the previous candle. This cancelled out my signal and I did not enter.
Trade Result: +0 pips R-Multiple: N/A
News events to watch for Thursday:
- 4:30am EST– UK CIPS Market Services PMI
- 8:15am EST– US ADP Employment Survey
- 10:00am EST– US ISM Non Manufacturing