The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today:
2:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.
The entry was at the close of the candle at 1.2777 with a stop at the most recent swing high at 1.2785. Since I was 27 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.2750.
Entry: Short at 1.2777 Stop: 1.2785 Target: 1.2750
2:30am EST– Unfortunately I was stopped out of my trade. (-8 pips)
9:15am EST- Didn’t consider this possible signal because it was before the 10:00am EST news event.
Trade Result: -8 pips R-Multiple: -1.00