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: Tuesday, 11/13/07
If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
Today's Surf
11:30am EDT- There was a moving average crossover for a short trade but RSI was not less than 50 and MACD was already negative. This cancelled out the signal and I did not enter.
Trade Result: +0 pips.
News events to watch for Monday :
- 4:30am EDT- GBP Average Earnings Index
- 5:30am EDT- BOE Inflation Report
- 8:30am EDT- US Retail Sales
- 8:30am EDT- US PPI
- 9:10am EDT- US Fed Chairman Bernanke Speaks
For a list of all of tomorrow's news events, check out our Forex Calendar
Cowaboi- Stoch was pointing up but you also have to have a moving average crossover for a trend change candle. On the 4hr chart, there was no moving average crossover for an upward trend even though the majority of the day the pair moved up. Does that make sense?