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: 05/16/07
If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= The trend remained up until 12pm ET. From 8am - 12pm ET, a new trend change candle formed and changed the trend from up to DOWN. After 12pm ET, the trend remained down for the rest of the day.
Today I looked for long trades until 12pm ET. After 12pm ET I only looked for short trades
Today's Surf
12:30 am ET- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle which was at 9850 with a stop at the most recent swing low which was at 9846. Since I was 50 pips away from the nearest 00 level I set my target at 9900.
4:30 am ET- Unfortunately I was stopped out of my trade.
Trade Result: -4 pips ; R-Multiple= -1.00
