The trend was DOWN until the entire day today.
Today I only looked for short trades.
News events to watch for today:
- 8:30am EST– US Unemployment Claims
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 1.2680 with a stop at the most recent swing high at 1.2695. Since I was 30 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.2650.
Entry: Short at 1.2680 Stop: 1.2695 Target: 1.2650
8:15am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 8:30am EST, I decided to manually close out my trade. I got out at 1.2690. (-10 pips)
11:15am EST– Didn’t consider this possible signal because it was close to 12 noon EST.
Trade Result: -10 Pips R-Multiple: -0.67
News events to watch for Friday:
- 8:30am EST– US Retail Sales
- 9:15am EST– US Industrial Production
- 10:00am EST– US UoM Consumer Sentiment