Cowabunga System Daily Update: Wednesday, 06/11/08

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Main Trend

Current Trend= The trend remained up until 4am EST. From 12am – 4am EST a new trend change candle formed and changed the trend from up to DOWN. After 4am EST, the trend remained down the rest of the day.

Today I only looked for long trades until 4am EST. After 4am EST, I only looked for short trades.

News events to watch for today :
  • 4:30am EST– UK Claimant Count Change

Today’s Surf

2:15am EST- 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 1.9534 with a stop at the most recent swing high at 1.9555. Since I was 34 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9500.

Entry: Short at 1.9534
Stop: 1.9555
Initial Target: 1.9500

2:30am EST- Unfortunately I was stopped out of my trade.

4:15am EST- There was a signal here, but it was right before news so I did not enter.

entry2

Trade Result: -21 pips (THIS DOES NOT INCLUDE SPREAD): R-Multiple: -1.00

News events to watch for tomorrow :

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

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