The trend was DOWN until 8am EST. From 4am – 8am EST, a new trend change candle formed and changed the trend from down to UP. After 8am EST, the trend remained up the rest of the day.
Today I only looked for short trades until 8am EST. After 8am EST, I only looked for long trades.
News events to watch for today:
- 8:30am EST– US PPI
6:00am EST– There was a moving average crossover for a short trade. Stochastics were trending down, and MACD was positive and losing value, but RSI crossed above 50. This cancelled out my signal and I did not enter.
Trade Result: +0 pips R-Multiple: N/A