Partner Center Find a Broker
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.

News events to watch for today :
  • 5:30am EST– UK MPC Meeting Minutes

Today’s Surf

1:00am 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 entry. The entry was at the close of the candle at 2.0080 with a stop at the most recent swing high at 2.0123. Since I was 30 pips away from the nearest 50 or 00 level, I decided to put my initial target at 2.0050.

Entry: Short at 2.0080
Stop: 2.0123
Initial Target: 2.0050

3:15am EST– Unfortunately I was stopped out of my trade.

4:45am EST– There was a valid signal here but because it was close to an important news report I did not enter.

entry2

Trade Result: -43 pips; R-Multiple: -1.00

News events to watch for tomorrow :
Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forums.