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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 :
- 8:30am EST- US Initial Claims; Housing Starts; Building Permits
- 10:00am EST- US Philadelphia Fed Survey
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)
Trade Result: -20 pips R-Multiple: -1.00
News events to watch for Friday:
- 4:30am EST- UK Retail Sales
- 9:55am EST- US Univ of Mich Sentiment
For a complete list of news events check out our Forex Economic Calendar.
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- Cowabunga System Daily Update: Wednesday, 01/16/2013 13:40 16 January 2013
- Cowabunga System Daily Update: Tuesday, 11/20/2012 14:45 20 November 2012
- Cowabunga System Daily Update: Wednesday, 10/19/2011 13:33 19 October 2011
