Cowabunga System Daily Update: Wednesday, 02/26/2014

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Main Trend

Trend

Current Trend

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

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

News events to watch for today :

Today’s Surf

12:15am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.

3:45am EST– There was a valid signal here but because it was right before the 4:30am EST news, I did not enter.

Entry

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

News events to watch for Thursday:

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

    The simplest trading system I’ve ever seen. Thanks for sharing it.