The trend was UP until 7am EST. From 3am – 7am EST, a new trend change candle formed and changed the tredn from up to DOWN. After 7am EST, the trend remained DOWN the rest of the day.
Today I only looked for long trades until 7am EST. After 7am EST, I only looked for short trades.
News events to watch for today:
8:30am EST– Didn’t consider this possible signal because it was on a news candle.
10:15am EST– There was a moving average crossover for a short trade. RSI was less than 50, MACD was positive and losing value, but stochastics were still trending up. This cancelled 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 Claimant Count Rate
- 8:30am EST- US Retail Sales
- 9:15am EST– US Capacity Utilization
- 10:00am EST– US Business Inventories