The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today:
2:45am 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 1.2744 with a stop at the most recent swing high at 1.2760. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my target at 1.2700.
Entry: Short at 1.2744 Stop: 1.2760 Target: 1.2700
4:15am EST– Unfortunately I got stopped out of my trade. (-16 pips)
9:15am EST– I didn’t consider this possible signal because it was right before the 10am EST news event.
Trade Result: -16 pips R-Multiple: -1.00