Cowabunga System Daily Update: Tuesday, 05/10/11

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Main Trend

Current Trend

The trend was down the entire day.

Today I only looked for short trades.

News events to watch for today :

Today’s Surf

9:15am EST– There was a signal here but because it was close to the 10am EST news event I did not enter.

10:30am 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 trending up. This cancelled out the signal and I did not enter.

entry2

Trade Result: +0 pips R-Multiple: N/A

News events to watch for Wednesday:

For a complete list of news events check out our Forex Economic Calendar.
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