If this is your first time visiting this blog, read this first!
Main Trend
Current Trend
The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :
- 8:30am EST– US PPI; Initial Claims
Today’s Surf
3:15am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry.
The entry was at the close of the candle at 1.6115 with a stop at the most recent swing low at 1.6100. Since I was 35 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.6150.
Entry: Long at 1.6115 Stop: 1.6100 Target: 1.6150
7:00am EST– Unfortunately I was stopped out of my trade. (-15 pips)
10:45am EST– 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 1.6115 with a stop at the most recent swing low at 1.6083. Since I was 35 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.6150.
Entry: Long at 1.6115 Stop: 1.6083 Target: 1.6150
11:45am EST– My target wasn’t hit by this time. Since it was about to be 12 noon EST, I decided to go ahead and exit my trade. I closed out at 1.6127. (+12 pips)
Trade Result: -15 +12= -3 pips R-Multiple: -1.00; 0.37
News events to watch for Friday:
- 8:30am EST– US CPI; Retail Sales
- 9:15am EST– US Capacity Utilization; Industrial Production
- 10:00am EST– US Univ Of Mich. Sent; Business Inventories
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.
