The trend was UP until 3am EST. From 11pm – 3am EST, a new trend change candle formed and changed the trend from UP to DOWN. After 3am EST, the trend remained DOWN the rest of the day.
Today I only looked for long trades until 3am EST. After 3am EST, I only looked for short trades.
News events to watch for today:
- 10:00am EST– US ISM Manufacturing
1:00am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.
9:30am EST– Didn’t consider this possible signal because it was close to the 10:00am EST news.
Trade Result: +0 pips R-Multiple: N/A