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 :
- 4:30am EST– UK CIPS Construction PMI
- 10:00am EST– US ISM Manufacturing
Today’s Surf
2:45am 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 1.5557 with a stop at the most recent swing low at 1.5536. Since I was 43 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5600.
Entry: Long at 1.5557 Stop: 1.5536 Target: 1.5600
4:15am EST – My target wasn’t hit by this time. Since news was coming out at 4:30am EST I decided to manually exit my trade. I got out at 1.5393. (+36 pips)
Trade Result: +36 pips R-Multiple: 1.71
News events to watch for Wednesday:
- 4:30am EST– UK CIPS Services PMI
- 8:30am EST– US Trade Balance
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.
