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 GDP
- 8:30am EST– US Durable Goods
- 9:00am EST– US FHFA House Price Index
Today’s Surf
1:00am 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 1.3930 with a stop at the most recent swing high at 1.3953. Since I was 30 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3900
Entry: Short at 1.3930 Stop: 1.3953 Target: 1.3900
3:00am EST– Unfortunately I was stopped out of my trade. (-23 pips)
4:00am EST– Didn’t consider this possible signal because it was right before the 4:30am EST news.
9:00am EST– Didn’t consider this possible signal because it was right on a news candle.
Trade Result: -23 pips R-Multiple: -1.00
News events to watch for Friday:
- 8:30am EST– US GDP
- 10:00am EST– US Univ. Of Mich. Sent
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.
