If this is your first time visiting this blog, read this first!
Main Trend
Current Trend
The trend was down the entire day.
Today I only looked for short trades.
News events to watch for today :
- 9:00am EST– US TICS
- 9:15am EST– US Industrial Production ; Capacity Utilization
- 10:00am EST- US NAHB Builders Survey
Today’s Surf
1:45am EST– There was a moving average crossover 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 at 1.5922 with a stop at the most recent swing high at 1.5950. Since I was 22 pips away from the nearest 50 or 00 level, I decided to put my intial target at 1.5900.
Entry: Short at 1.5922 Stop: 1.5950 Target: 1.5900
2:00am EST- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.5903. (+19 pips)
7:45am EST– There was a moving average crossover 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 at 1.5873 with a stop at the most recent swing high at 1.5903. Since I was 23 pips away from the nearest 50 or 00 level, I decided to put my intial target at 1.5850.
Entry: Short at 1.5873 Stop: 1.5903 Target: 1.5850
8:15am EST- Unfortunately I was stopped out of my trade. (-30 pips)
10:30am EST– There was a moving average crossover 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 at 1.5872 with a stop at the most recent swing high at 1.5915. Since I was 22 pips away from the nearest 50 or 00 level, I decided to put my intial target at 1.5850.
Entry: Short at 1.5872 Stop: 1.5915 Target: 1.5850
11:45am EST- My target wasn’t hit by this time. Since it was already 12pm EST, I decided to go ahead and exit my trade. I closed out at 1.5890 (-18 pips)
Trade Result: +19 -30 -18= -29 pips R-Multiple: 0.67; -1.00; -0.41
News events to watch for Tuesday:
- 8:30am EST- US Building Permits ; Housing Starts
For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forex Forums.
