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 :
- 8:30am EST– US Building Permits; Housing Starts; Initial Claims; CPI
- 10:00am EST– US Philly Fed Index
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 went from positive to negative. This was a valid signal. I entered at the close of the candle at 1.5217 with a stop at the most recent swing high at 1.5234. Since I was 17 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5200.
Entry: Short at 1.5217; Stop: 1.5234; Target: 1.5200
2:00am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.5202. (+15 pips)
6:45am 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 signal. I entered at the close of the candle at 1.5211 with a stop at the most recent swing high at 1.5234. Since I was 11 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5200.
Entry: Short at 1.5211; Stop: 1.5234; Target: 1.5200
7:30am EST- Unfortunately I was stopped out of my trade. (-23 pips)
Trade Result: +15 -23= -8 pips R-Multiple: 0.88; -1.00
News events to watch for Friday:
- 9:55am EST– US Univ. Of Mich. Sentiment
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.
