Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
News events to watch for today :
12:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.9791 with a stop at the most recent swing high at 1.9801. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9750.
Entry: Short at 1.9791
Initial Target: 1.9750
2:30am EST- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.9752.
Trade Result: +39 pips : R-Multiple: 3.90
News events to watch for tomorrow :
- 4:30am EST- UK GDP
- 10:00am EST- US Consumer Sentiment
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- Cowabunga System Daily Update: Tuesday, 04/22/08 12:05 22 April 2008
- Cowabunga System Daily Update: Thursday, 04/17/08 12:27 17 April 2008
- Cowabunga System Daily Update: Wednesday, 04/23/08 11:44 23 April 2008
- Cowabunga System Daily Update: Tuesday, 02/26/08 12:42 26 February 2008
- Cowabunga System Daily Update: Monday, 05/05/08 13:34 05 May 2008
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