Cowabunga System Daily Update: Thursday, 09/08/11

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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

12:15am 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 still trending up. This cancelled out the signal and I did not enter.

12:00pm EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. Also, because it was 12 noon EST it gave me more reason not to enter this trade.

entry2

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

News events to watch for Friday:

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