Partner Center Find a Broker

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 :

Today’s Surf

2:45am 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 1.5482 with a stop at the most recent swing high at 1.5494. Since I was 32 pips away from the nearest 50 or 00 level I put my initial target at 1.5450.

Entry: Short at 1.5482 Stop: 1.5494 Target: 1.5450

3:15am EST- Unfortunately I was stopped out of my trade. (-12 pips)

5:45am 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 1.5487 with a stop at the most recent swing high at 1.5530. Since I was 37 pips away from the nearest 50 or 00 level I put my initial target at 1.5450.

Entry: Short at 1.5487 Stop: 1.5530 Target: 1.5450

9:30am EST- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.5452. (+35 pips)

entry2

Trade Result: -12 +35= +23 pips R-Multiple: -1.00; 0.81

News events to watch for Thursday:

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.