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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 :
- 8:30am EST- US Trade Balance
- 10:00am EST- US IBD Consumer Optimism; Wholesale Inventories
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 gainingThis was a valid signal. I entered at the close of the candle at 1.6084 with a stop at the most recent swing low at 1.6068. Since I was 16 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.6100.
Entry: Long at 1.6084; Stop: 1.6068; Target: 1.6100
7:45am EST- My target was hit. Price didn't make a clean break so I took my final profit. I exited at 1.6098. (+14 pips)
Trade Result: +14 pips R-Multiple: 0.87
News events to watch for Wednesday:
For a complete list of news events check out our Forex Economic Calendar.
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Related Posts:
- Cowabunga System Daily Update: Wednesday, 12/12/2012 11:49 12 December 2012
- Cowabunga System Daily Update: Tuesday, 11/13/2012 14:30 13 November 2012
- Cowabunga System Daily Update: Tuesday, 09/11/2012 14:24 11 September 2012
- Cowabunga System Daily Update: Tuesday, 07/12/11 13:05 12 July 2011
- Cowabunga System Daily Update: Wednesday, 04/18/2012 11:18 18 April 2012
