The trend was DOWN until the entire day today.
Today I only looked for short trades.
News events to watch for today:
- 6:00am EST– US NFIB Small Business Optimism
- 7:15am EST– UK BOE Carney Speaks
- 10:15am EST– US Fed Williams participates in panel
2:30am 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 1.2846 with a stop at the most recent swing high at 1.2883. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2800.
Entry: Short at 1.2846 Stop: 1.2883 Target: 1.2900
5:45am EST– Unfortunately I my target wasn’t hit by this time. Since news was coming out at 6:00am EST, I decided to manually exit my trade. I got out at breakeven at 1.2846.
Trade Result: +0 Pips R-Multiple: N/A
News events to watch for Wednesday:
- 4:30am EST– UK CPI
- 7:15am EST– US Fed Bostic Speaks
- 8:30am EST– US CPI
- 8:50am EST- US Fed Mester Speaks