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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 went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.7174 with a stop at the most recent swing high at 1.7195. Since I was 24 pips away from the nearest 50 or 00 level, I decided to put my target at 1.7150
Entry: Short at 1.7174
Initial Target: 1.7150
1:15am EST- My target was hit. Price did not make a clean break of my target so I took my final profit. I exited at 1.7155.
9:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, MACD was positive and losing value, but stochastics were still trending up. This cancelled out the signal and I did not enter.
Trade Result: +19 pips (NOT INCLUDING SPREAD) R-Multiple: 0.90
News events to watch for tomorrow :
- 4:30am EST- UK MPC Minutes
For a complete list of news events check out our News Section
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- Cowabunga System Daily Update: Monday, 08/11/08 20:28 11 August 2008
- Cowabunga System Daily Update- Wednesday, 08/27/08 15:49 27 August 2008
- Cowabunga System Daily Update: Thursday, 09/11/08 14:07 11 September 2008
- Cowabunga System Daily Update: Tuesday, 10/07/08 13:03 07 October 2008
- Cowabunga System Daily Update: Tuesday, 12/02/08 14:36 02 December 2008
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