Cowabunga System Daily Update: Monday, 12/10/07

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Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades.

Today’s Surf

12:00am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 2.0325 with a stop at the most recent swing low at 2.0309. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 2.0350.

Entry: Long at 2.0325

Stop: 2.0309

Initial Target: 2.0350

1:00am EDT- Unfortunately I was stopped out of my trade.

Trade Result: -16 pips; R-Multiple: -1.00

News events to watch for tomorrow :
  • 5:00am EDT- German ZEW Economic Sentiment
  • 2:15pm EDT- US Interest Rate Statement

For a list of all of tomorrow’s news events, check out our Forex Calendar

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  • ringup

    hi,dude!Why my chart is different then yours?INCOREKT broker or….?Verify him,because in my chart stop loss is not hit.

  • ringup

    hi,dude!Why my chart is different then yours?INCOREKT broker or….?Verify him,because in my chart stop loss is not hit.