If this is your first time visiting this blog, read this first! 

Main Trend

Current Trend

The trend was UP the entire day.

Today I only looked for long trades.

News events to watch for today :

• 8:30am EST- US PPI; Initial Claims

Today's Surf

3:15am 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 1.6115 with a stop at the most recent swing low at 1.6100. Since I was 35 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.6150.

Entry: Long at 1.6115 Stop: 1.6100 Target: 1.6150

7:00am EST- Unfortunately I was stopped out of my trade. (-15 pips)

10:45am 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 a valid entry.

The entry was at the close of the candle at 1.6115 with a stop at the most recent swing low at 1.6083. Since I was 35 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.6150.

Entry: Long at 1.6115 Stop: 1.6083 Target: 1.6150

11:45am EST- My target wasn't hit by this time. Since it was about to be 12 noon EST, I decided to go ahead and exit my trade. I closed out at 1.6127. (+12 pips)

Trade Result: -15 +12= -3 pips R-Multiple: -1.00; 0.37

News events to watch for Friday:

• 8:30am EST- US CPI; Retail Sales
• 9:15am EST- US Capacity Utilization; Industrial Production
• 10:00am EST- US Univ Of Mich. Sent; Business Inventories

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.