Cowabunga System Daily Update: Tuesday, 01/25/11

January 25, 2011 11:20 AM UTC in Trading Systems

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Main Trend

Current Trend

The trend was up until 7am EST. From 3am – 7am EST, a new trend change candle formed and changed the trend from up to DOWN. After 7am EST, the trend remained down the rest of the day.

Today I only looked for long trades until 7am EST. After 7am EST, I only looked for short trades.

News events to watch for today :

4:30am EST– UK GDP
9:00am EST- US S&P Case-Shiller Home Price
10:00am EST– US Consumer Confidence

Today’s Surf

10:00am EST– No entry because this was a news candle.

Trade Result: +0 pips R-Multiple: N/A

News events to watch for Wednesday:

10:00am EST– US New Home Sales
2:00pm EST– US FOMC Interest Rate Statement

For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.

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About Pip Surfer

Dude! So you've read just about everything you could possibly get your hands on about the forex. Follow along as I take a simple forex trading system and apply it to an unsimple market. If you're new trader, you should read this first.. Then check out the Cowabunga System FAQs.