Cowabunga System Daily Update: Thursday, 01/17/2013

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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

2:45am 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 signal. I entered at the close of the candle at 1.5988 with a stop at the most recent swing high at 1.6008. Since I was 38 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5950.

Entry: Short at 1.5988; Stop: 1.6008; Target: 1.5950

3:30am EST- Unfortunately I was stopped out of my trade. (-20 pips)

entry2

Trade Result: -20 pips R-Multiple: -1.00

News events to watch for Friday:

For a complete list of news events check out our Forex Economic Calendar.
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  • Braden1

    Hey pipsurfer. Wondered if you would mind sharing your .lua code. I read you were using fxcm somewhere. Also wondered if you were getting alerts sent to your iPhone 5 and how? I can’t get it to work for me…Thanks for everything you do

  • Braden1

    Also, wasn’t sure about the valid entry sign the morning as it was mlk day. Are holidays generally safe trades in your experience. It was a winner, even almost went to target price 2 !