Partner Center Find a Broker


Start your own blog and share your trades at MeetPips.com

If you haven’t done so already , go check out BabyPips’ newest creation, FreshPips.com !

Freshpips.com delivers to your e-door step the most relevant Forex news and research on the Web. The stories you see on FreshPips are submitted by site members – you and your fellow Forex traders. You then decide what’s “fresh” and what, well, sucks. Top honors – submissions placed on the main page – are given to the stories deemed fresh by the FreshPips.com community as a whole.

Check it out, register, and start submitting cool Forex stories today!

If this is your first time visiting this blog, read this first! 

Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades

News events to watch for today :

  • 7:00am EDT– UK Official Bank Rate
  • 8:30am EDT– US Unemployment Claims

Today’s Surf

4:00am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 1.4445 with a stop at the most recent low at 1.4365. Since I was only 5 pips away from the nearest 50 or 00 level (1.4450), I decided to go for the same amount of pips I was risking on the trade, which in this case was 80. This put my initial target at 1.4525.

Entry: Long at 1.4445

Stop: 1.4365

Target: 1.4525

1:30pm EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4520.

entry2

Trade Result: +75 pips (NOT INCLUDING SPREAD) R-Multiple: 0.93

News events to watch for tomorrow :

  • 4:30am EDT– UK Manufacturing Production m/m; PPI Input m/m
  • 8:30am EDT– US Non-Farm Employment Change; Unemployment Rate; Average Hourly Earnings m/m

For a complete list of news events check out our News Section

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.