Cowabunga System Daily Update: Tuesday, 11/13/2012

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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

3:45am EST- There was a valid signal here, but because it was close to the 4:30am EST news event I did not enter.

8:00am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.

The entry was at the close of the candle at 1.5878 with a stop at the most recent swing high at 1.5915. Since I was 28 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5850.

Entry: Short at 1.5878 Stop: 1.5915 Target: 1.5850

9:45am EST- My target wasn’t hit by this time. Since news was coming out at 10:00am EST, I manually exited my trade. I got out at 1.5875. (+3 pips)

entry2

Trade Result: +3 pips R-Multiple: 0.08

News events to watch for Wednesday:

For a complete list of news events check out our Forex Economic Calendar.
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  • Sebastian van Marwin

    great! thanks for update PipSurfer, if you have time you can be so kind and little more often updates your awesome blog :) cheer