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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 :
- 4:30am EST- UK CPI
- 8:30am EST- US CPI
- 9:15am EST- US Industrial Production; Capacity Utilization
- 10:00am EST- US NAHB Builders Survey
Today's Surf
7:30am 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 a valid entry.
The entry was at the close of the candle at 1.6105 with a stop at the most recent swing low at 1.6070. Since I was 45 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.6150.
Entry: Long at 1.6105 Stop: 1.6070 Target: 1.6150
8:15am EST- My target wasn't hit by this time. Since news was coming out at 8:30am EST, I decided to go ahead and exit my trade. I got out at 1.6127. (+22 pips)
Trade Result: +22 pips R-Multiple: 0.62
News events to watch for Wednesday:
- 4:30am EST- UK ILO Unemployment Rate; Claimant Count Change; Average Earnings; Claimant Count Rate
- 8:30am EST- US Housing Starts; Building Permits
For a complete list of news events check out our Forex Economic Calendar.
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Related Posts:
- Cowabunga System Daily Update: Wednesday, 01/18/12 13:12 18 January 2012
- Cowabunga System Daily Update: Tuesday, 05/15/2012 15:48 15 May 2012
- Cowabunga System Daily Update: Tuesday, 05/17/11 12:57 17 May 2011
- Cowabunga System Daily Update: Tuesday, 01/18/11 11:56 18 January 2011
- Cowabunga System Daily Update: Tuesday, 04/17/2012 16:55 17 April 2012
