Dude! So you've read just about everything you could possibly get your hands on about the Forex. Now you want to get your feet wet but aren't sure where to start. Well then this blog is for you! Follow along as I take a simple system and apply it to an unsimple market. If you're new to the blog you should Cowabunga System Daily Update: 08/12/07
If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= The trend remained down the entire day
Today's Surf
10:00 am ET- 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 2.0129 with a stop at the most recent swing high which was at 2.0155. Since I was 29 pips away from the nearest 00 level I decided to put my target at 2.0100.
Entry: Short at 2.0129
Stop: 2.0155
Initial Target: 2.0100
4:00 pm ET- Unfortunately my target was not hit by this time so I manually exited my trade at breakeven.
Trade Result: +0 pips
