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 down the entire day.

Today I only looked for short trades.

News events to watch for today :

  • 5:30am EST– UK Retail Sales
  • 8:30am EST– US GDP; Unemployment Report

Today’s Surf

2:45am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending up but MACD was already negative which cancelled out the signal. No entry!

5:15am EST– There was a potential signal here but because it was right before news, I did not enter.

9:45am 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 1.4541 with a stop at the most recent high at 1.4633. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4500.

Entry: Short at 1.4541

Stop: 1.4633

Target: 1.4500

10:00am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.4505.

entry2

Trade Result: +36 pips (NOT INCLUDING SPREAD) R-Multiple: 0.39

News events to watch for tomorrow :

  • 5:30am EST– UK Current Account
  • 8:30am EST- US Core PCE Price Index m/m
  • 9:55am EST– US Revised UoM Consumer Sentiment

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.