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: Tuesday, 08/26/08
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 down the entire day.
Today I only looked for short trades
News events to watch for today :
- 10:00am EST- US Consumer Confidence, US New Home Sales
- 2:00pm EST- FOMC Minutes
Today's Surf
4:00am EST- There was a moving average crossover for a short trade, RSI was less than 50, MACD went from positive to negative, but stochastics was trending up which cancelled out the signal. Also, although it wasn't news for the GBP or USD, the German Business Climax Index showed a contracting economy for the first time in a very long time which had a ripple effect across the board. Because of this I would not have traded it even if it was a valid signal because I would've considered a news candle.
Trade Result: 0 pips R-Multiple: N/A
News events to watch for tomorrow :
- 8:30am EST- US Durable Goods
For a complete list of news events check out our News Section
