Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
12:45am EDT- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.9734 with a stop at the most recent swing high at 1.9762. Since I was 34 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9700.
Entry: Short at 1.9734
Initial Target: 1.9700
2:00am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.9702.
Trade Result: +32 pips; R-Multiple: 1.14
News events to watch for Monday :
- 4:30am EDT- GBP Trade Balance
- 7:00am EDT- GBP Interest Rate Statement
- 8:30am EDT- US Unemployment Claims
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- Cowabunga System Daily Update: Friday, 04/11/08 12:48 11 April 2008
- Cowabunga System Daily Update: Thursday, 01/17/08 14:34 17 January 2008
- Cowabunga System Daily Update: Tuesday, 04/29/08 14:56 29 April 2008
- Cowabunga System Daily Update: 01/02/08 13:40 02 January 2008
- Cowabunga System Daily Update: Thursday, 04/17/08 12:27 17 April 2008
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