Cowabunga System Daily Update: Thursday, 11/21/2013

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Main Trend

Trend

Current Trend

The trend was DOWN until 11am EST. From 7am – 11am EST, a new trend formed and changed the trend from DOWN to UP. After 11am EST, the trend remained up the rest of the day.

Today I only looked for short trades until 11am EST. After 11am EST, I only looked for long trades.

News events to watch for today :

Today’s Surf

4:15am EST- I didn’t even consider this possible signal because news was coming out at 4:30am EST.

9:15am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out the signal and I did not enter.

Entry

Trade Result: +0 pips R-Multiple: N/A

News events to watch for Friday:

  • None

For a complete list of news events check out our Forex Economic Calendar.
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