Cowabunga System Daily Update: Tuesday, 10/22/2013

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Main Trend

Entry

Current Trend

The trend was DOWN the entire day.

Today I only looked for short trades.

News events to watch for today :

Today’s Surf

4:30am EST– There was a signal here but because it was a news candle I did not enter.

6:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.6123 with a stop at the most recent swing high at 1.6136. Since I was 23 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6100.

Entry: Short at 1.6123 Stop: 1.6136 Target: 1.6100

7:15am EST – Unfortunately I was stopped out of my trade. (-13 pips)

Trend

Trade Result: -13 pips R-Multiple: -1.00

News events to watch for Wednesday:

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

    i like your system but unfortunately i can’t zoom attached pictures and i cannot determined wich pare did you trade!

    tnx
    Mitja

  • srhn

    hi,
    There was a down crossover in 4h chart since yesterday, but all time after it stochastic was in oversold, therefore according to the system there isn’t any trend for today, Until 16:00 GMT that an uptrend come in. Am I right?