Cowabunga System Daily Update: Wednesday, 12/18/2013

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Main Trend

Trend

Current Trend

The trend was DOWN the entire day until 7am EST. From 3am – 7am EST a new trend change candle formed and changed the trend from down to UP. After 7am EST, the trend remained up the rest of the day.

Today I only looked for short trades until 7am EST. After 7am EST I only looked for long trades.

News events to watch for today :

Today’s Surf

12:45, 1:15, 3:00am 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 Thursday:

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