The trend was DOWN the entire day.
Today I only looked for short trades.
News events to watch for today :
- 4:30am EST- UK Public Borrowing
- 8:30am EST- US CPI; Initial Claims
- 10:00am EST- US Philly Fed Survey; Existing Home Sales
3:15am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid signal. I entered at the close of the candle at 1.5173 with a stop at the most recent swing high at 1.5198. Since I was 23 pips away from the nearest 50 or 00 level, I put my initial target at 1.5150.
Entry: Short at 1.5173; Stop: 1.5198; Target: 1.5150
3:30am EST- Unfortunately I was stopped out of my trade. (-25 pips)
9:45am EST- I didn't even consider this as a possible trade since it was right before the 10:00am EST news candle.
Trade Result: -25 pips R-Multiple: -1.00
News events to watch for Friday:
- Cowabunga System Daily Update: Wednesday, 02/20/2013 14:29 20 February 2013
- Cowabunga System Daily Update: Thursday, 03/21/2013 14:50 21 March 2013
- Cowabunga System Daily Update: Wednesday, 09/21/11 13:42 21 September 2011
- Cowabunga System Daily Update: Monday, 06/20/11 14:19 20 June 2011
- Cowabunga System Daily Update: Thursday, 05/19/11 14:40 19 May 2011