The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- 4:30am EST– UK Public Sector Borrowing
- 7:00am EST– UK BOE Haldane Speaks
- 10:00am EST– US Existing Home Sales
1:30am 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 1.2629 with a stop at the most recent swing high at 1.2634. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2600.
Entry: Short at 1.2629 Stop: 1.2634 Target: 1.2600
3:00am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.2602. (+27 pips)
10:00am EST– Didn’t consider this possible signal because it was on a news candle.
Trade Result: +27 pips R-Multiple: 5.40
News events to watch for Thursday:
- 6:00am EST– UK CBI Industrial Trends
- 8:30am EST– US Unemployment Claims
- 10:00am EST– US Fed Powell Speaks