The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
2:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.
The entry was at the close of the candle at 1.2673 with a stop at the most recent swing low at 1.2649. Since I was 27 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2700.
Entry: Long at 1.2673 Stop: 1.2649 Target: 1.2700
3:45am EST– Unfortunately I was stopped out of my trade. (-24 pips)
9:15am EST– Didn’t consider this possible signal because it was right before the 10am EST news event.
Trade Result: -24 pips R-Multiple: -1.00
News events to watch for Thursday:
- 4:30am EST– UK Retail Sales
- 6:00am EST– UK BOE Bank Rate
- 7:00am EST– UK BOE MPC Minutes
- 8:30am EST– US Philly Fed Survey