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: 04/05/07
If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= The trend remained up until 8am ET. From 4am-8am ET, a new trend change candle formed and changed the trend from up to DOWN. After 8am ET, the trend remained down for the rest of the day.
I only looked for long trades until 8am ET. After 8am ET, I only looked for short trades.
Today's Surf
3:00 am ET - 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 which was at 9755 with a stop at the most recent swing low which was at 9733. Since I was 45 pips away from the nearest 00 level, I decided to set my target for 9800.
4:30 am ET- Unfortunately I am stopped out.
Trade Result: -22 pips; R-Multiple= -1.00
