Cowabunga System Daily Update: Tuesday, 06/14/11

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Main Trend

Current Trend

The trend was up the entire day.

Today I only looked for long trades.

News events to watch for today :

Today’s Surf

6:30am 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 valid entry.

The entry was at the close of the candle at 1.6408 with a stop at the most recent swing low at 1.6376. Since I was 42 pips away from the nearest 50 or 00 level I decided to put my target at 1.6450.

Entry: Long at 1.6408 Stop: 1.6376 Target: 1.6450

8:15am EST- Unfortunately my target wasn’t hit by this time. Since news was coming out at 8:30am EST I decided to manually exit my trade. I closed out at 1.6417. (+9 pips)

10:15am EST- 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 valid entry.

The entry was at the close of the candle at 1.6415 with a stop at the most recent swing low at 1.6380. Since I was 35 pips away from the nearest 50 or 00 level I decided to put my target at 1.6450.

Entry: Long at 1.6415 Stop: 1.6380 Target: 1.6450

11:15am EST- Unfortunately I got stopped out of my trade. (-35 pips)

entry2

Trade Result: +9 -35= -26 pips R-Multiple: 0.28; -1.00

News events to watch for Wednesday:

For a complete list of news events check out our Forex Economic Calendar.
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  • Gargrave67

    sorry for this…

    do you execute market order pending order?

    palstikman