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Main Trend
Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
Today’s Surf
2:00 am ET– 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 which was at 9750 with a stop at the most recent swing high which was at 9771. Since I was 50 pips away from the nearest 00 level, I set my target for 9700.
6:45 am ET– Unfortunately I was stopped out of my trade.
9:45 am ET– This was a news candle (Chicago PMI). Therefore I did not enter even though we had a valid signal.
Trade Result: -21 pips ; R-Multiple= -1.00