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 m/m
• 8:30am EST- US Unemployment Claims
• 10:00am EST- US Philly Fed Manufacturing Index

Today's Surf

2:15am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry.

The entry was at the close of the candle at 1.5784 with a stop at the most recent low at 1.5754. Since I was 16 pips away from the nearest 50 or 00 level, I put my initial target at 1.5800.

Entry: Long at 1.5784 Stop: 1.5754 Target: 1.5800

2:30am EST- My target was hit. Price did not make a clean break so I took my final profit. I managed to exit at 1.5795.

8:15am EST- This was not a signal because MACD was already positive and it was right before news.

Trade Result: +11 pips (NOT INCLUDING SPREAD) R-Multiple: 0.36

News events to watch for tomorrow:

• 4:30am EST- UK Revised GDP q/q

For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forex Forums.