If you haven't done so already , go check out BabyPips' newest creation, FreshPips.com !

Freshpips.com delivers to your e-door step the most relevant Forex news and research on the Web. The stories you see on FreshPips are submitted by site members – you and your fellow Forex traders. You then decide what's “fresh” and what, well, sucks. Top honors – submissions placed on the main page – are given to the stories deemed fresh by the FreshPips.com community as a whole.

Check it out, register, and start submitting cool Forex stories today!

If this is your first time visiting this blog, read this first! 

Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades.

News events to watch for today :

• 4:30am EST- UK Retail Sales
• 8:30am EST- US Unemployment Rate

Today's Surf

2:45am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. 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 low at 1.9697. Since I was 16 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9750.

Entry: Long at 1.9734
Stop: 1.9697
Initial Target: 1.9750

3:00am EST- My target is hit. Price did not make a clean break so I took my final profit. I managed to get out at 1.9745.

4:30am EST- There was a signal here but because it was a news candle, I did not enter.

Trade Result: +11 pips : R-Multiple: 0.29

News events to watch for Monday :

• 4:30am EST- UK Revised GDP
• 10:00am EST- US Existing Home Sales

For a complete list of news events check out our News Section

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.