Start your own blog and share your trades at MeetPips.com

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 until 11am EDT. From 7am -11am EDT, a new trend change candle formed and changed the trend from up to DOWN. After 11am EDT, the trend remained down.

Today I only looked for long trades until 11am EDT. After 11am EDT, I only looked for short trades.

News events to watch for today :

• 4:30am EDT- UK Retail Sales


• 8:30am EDT- US Initial Claims


• 10:30am EDT- US Philly Fed Index

Today's Surf

5:00am EDT- 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 1.5477 with a stop at the most recent swing low at 1.5356. Since I was 23 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5500.

Entry: Long at 1.5477

Stop: 1.5356

Initial Target: 1.5500

6:00am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.5493.

Trade Result: +16 pips (NOT INCLUDING SPREAD) R-Multiple: 0.13

News events to watch for tomorrow :

• None

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.