Dude! So you've read just about everything you could possibly get your hands on about the Forex. Now you want to get your feet wet but aren't sure where to start. Well then this blog is for you! Follow along as I take a simple system and apply it to an unsimple market. If you're new to the blog you should Cowabunga System Daily Update: 05/02/07
If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
Today's Surf
2:15 am ET- There was a moving average for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle which was at 1.9945 with a stop at the most recent swing low at 1.9969. Since I was 45 pips away from the nearest 00 level I decided to put my target at 1.9900.
6:45 am ET- My target is hit. Price does make a slight break of 1.9900 but I decided to go ahead and take my final profit.
Trade Result: +45 pips ; R-Multiple= 1.87
