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: Wednesday, 04/23/08
If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= The trend remained up until 8am EST. From 4am - 8am EST, a new trend change candle formed and changed the trend from up to DOWN. After 8am EST, the trend remained down the rest of the day.
Today I only looked for long trades until 8am EST. After 8am EST, I only looked for short trades.
News events to watch for today :
- 4:30am EST- MPC Meeting Minutes
Today's Surf
1:00am EST- There was a moving average crossover for a long trade. Stochastics were trending up and MACD was negative and gaining value, but RSI was less than 50. This cancelled out the signal and I did not enter.
4:30am EST- There was a valid signal here, but because it was a news candle, I did not enter.
Trade Result: +0 pips : R-Multiple: N/A
News events to watch for tomorrow :
- 4:30am EST- UK Retail Sales
- 8:30am EST- US Durable Goods Orders
- 10:00am EST- US New Home Sales
