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 :
- 4:30am EST– UK Manufacturing Production
- 10:00am EST– US IBD Consumer Optimism
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 1.4522 with a stop at the most recent swing high at 1.4535. Since I was 22 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4500.
Entry: Short at 1.4522 Stop: 1.4535 Target: 1.4500
3:15am EST– Unfortunately I was stopped out of my trade. (-13 pips)
4:15am EST– Didn’t even consider this possible signal because it was right before a news event.
Trade Result: -13 pips R-Multiple: -1.00
News events to watch for Wednesday:
- None
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.