Cowabunga System Daily Update: Friday, 01/11/08

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Main Trend

trend2

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

Today’s Surf

12:00am EDT– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, but MACD was already negative which cancelled out the signal.

9:00am EDT– There was a moving average crossover for a short trade. RSI was less than 50, MACD was positive and losing value, but stochastics were already in oversold territory which cancelled out the signal.

entry2

Trade Result: +0 pips ; R-Multiple: N/A

News events to watch for Monday :
  • 4:30am EDT- GBP PPI Input
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